Pagebet a British sports betting company which is both land based as well as online, has committed its online gambling venture into a receivership, according to the local newspaper The Northern Echo. Nevertheless, the company is in agreement with Tenon Recovery who is the receiver manager, to buy out the resources of its online outfit to at least safeguard nine careers within its headquarters which are situated in Durham.

The company has also gone ahead to assure customers that all online investments will be protected and fail safe.

Pagebet now intends to devote its total attention to developing its string of major betting establishments, together with its upcoming telebetting venture, and has plans to inaugurate a 57th outlet at Shiremoor. It also has advanced plans to obtain as many as 25 new outlets by raising the sum of around GBP 2 million, through an anticipated public offering.

Clients will still be able to receive direct access to information regarding a wide variety of gambling markets and prices full through pagebet.com, although they won’t be able to place online bets.

Pagebet CEO Austin Carney justified the resolution to quit the lucrative betting sector commented that the company required a heavy amount of investment, in order to grow during the time of recession. This was however conflicted with the board of director’s vision for the company, as well as the business’s’ equity partner.

Hundreds of computers confiscated during the online gambling clampdown.
Malaysian police were once again become active in their anti- online gambling clampdown this week. Several cyber cafes were raided and a significant amount of computers were confiscated during the raid.
Three cyber cafes and 90 computers were seized in Subang Jaya, a residential town in the Klang Valley in Selangor Malaysia during a surprise raid last Tuesday night when they received tip-offs from a local source. These three premises have computers containing gambling chips, according to Police director Mohd Zulkurnain Che Ali. When policemen broke in, operators and clients had already escaped through a back door.
On Monday morning, similar raid happened Puchong Utama, Puchong Perdana, Puchong Prima and Puchong Indah. Police claimed that it was the biggest anti- gambling raid they had carried out so far this year. 13 cybercafes with 281 sets of computers and gambling software were seized during the operation. Policemen force their way into the premises as they tried to close their centers when they saw them approaching. Some of these cybercafes had already been raided in the past several times and still continue their operations, Police spokesman said.
But he assured that they won’t let it continue to happen. Closing down of these premises and confiscated their equipments already caused a substantial lost to the operators.