The price of shares in online gambling website Sportingbet tumbled 41% when trading in the stock resumed in London this morning after suspension last week owing to the arrest of the company's chairman.
Sportingbet slumped to 141p, wiping about £400m off the group's value. Sportingbet chairman Peter Dicks was arrested at JFK Airport in New York last Thursday under laws covering 'gambling by computer'.
The 64-year-old was released on Friday after he put up bail of $50,000. The arrest came two months after the chief executive of gaming website BetOnSports, David Carruthers, had been charged under the 1961 Wire Act, which bans the placing of bets on sporting events via the telephone in the US.
