Attached files
| file | filename |
|---|---|
| 8-K - OPTIMAL GROUP 8-K 10-30-2009 - OPTIMAL GROUP INC | form8k.htm |
| EX-10.1 - EXHIBIT 10.1 - OPTIMAL GROUP INC | ex10_1.htm |
Exhibit 99.1
 |
 |
FOR
IMMEDIATE RELEASE
Optimal
Group Enters into Non-Prosecution Agreement with Office of the United States
Attorney
Montreal, Quebec, October 30,
2009—Optimal Group Inc. (NASDAQ:OPMR) today announced that it has entered
into a non-prosecution agreement with the Office of the United States Attorney
for the Southern District of New York.
Following
announcements by the Office of the United States Attorney for the Southern
District of New York relating to its investigation of the U.S. Internet gambling
industry, the Company announced on May 8, 2007 that it had initiated discussions
with the U.S. Attorney’s Office and it was in the process of responding to a
voluntary request for information issued by the U.S. Attorney’s Office. In
connection with such ongoing investigation, the Company announced on May 11,
2007 that it had received a copy of warrants of seizure issued by the U.S.
Attorney’s Office against funds of certain payment processors that were on
deposit with two U.S. banks, which included $19,182,418.18 on deposit to the
credit of the Company's affiliates.
Under the
terms of the non-prosecution agreement, a total of $19,182,418.18 will be
forfeited to the United States by the Company and its subsidiaries, as
disgorgement of property involved in and proceeds received from the payment
processing services that were provided by the Company’s subsidiaries to Internet
gambling merchants in relation to U.S. customers of such merchants. Optimal and
the U.S. Attorney’s Office have agreed that the $19,182,418.18 previously
seized, which is presented as restricted cash on the Company’s consolidated
balance sheets, shall be applied to satisfy the forfeiture
obligation.
A copy of
the non-prosecution agreement will be electronically filed with Canadian
securities regulators and the United States Securities and Exchange Commission
as soon as reasonably practicable and will thereafter be available on SEDAR at
www.sedar.com
and on EDGAR at www.sec.gov.
About
Optimal Group
Optimal
Group Inc. has operated and, through various subsidiaries, has actively managed
a variety of businesses.
Optimal
Group Inc. currently operates:
The
WowWee group of companies, with operations in Hong Kong, Carlsbad, California,
Brussels, Belgium and Montreal, Quebec. WowWee Group Limited, based
in Hong Kong, is a leading designer, developer, marketer and distributor of
technology-based consumer robotic, toy and entertainment products.
For more
information about Optimal, please visit the Company's website at
www.optimalgrp.com.
Leon
Garfinkle
Senior
Vice President, General Counsel and Secretary
Optimal
Group Inc.
(514)
738-8885
leon@optimalgrp.com