Online Poker Business Sold for a Dollar

As the poker world watches, many poker industry players are making some drastic moves to restructure their business strategy, including selling off their online poker and other online gambling deparments - at least, those that operate in the US. One company, Excapsa, may come under fire for the way they went about it - the company recently sold off its US facing operations for $130 million. The kicker is that $120 million of the price is deferred until after the bill becomes law. To avoid that problem, Sportingbet sold off their US facing operations for a token $1. The move actually saved them some $14 million, the cost of shutting down the US operations.