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Youbet Reaches Settlement in IRG Deals

Youbet Reaches Settlement in IRG Deals

Youbet.com said Nov. 19 it has settled several disputes with the former owners of defunct off-shore wagering entity International Racing Group, a deal which features both cash and stocks changing hands, and mentions that a federal investigation into IRG may still be active.

Youbet: 2007 Loss Now $28.4 Million

Youbet: 2007 Loss Now $28.4 Million

Youbet.com has restated its earnings for 2007 due to a recalculation of an earn-out payment to the former owners of defunct subsidiary International Racing Group, increasing its annual loss for the year to $28.4 million.

IRG Faces License Suspension in Oregon

IRG Faces License Suspension in Oregon

The Oregon Racing Commission has notified International Racing Group that it intends to suspend its state operating license as an advance deposit wagering company, but parent company Youbet.com says it is working to prevent such an event.

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