Youbet making changes

[billrock]

Nov 30 (Reuters) - Online wagering company Youbet.com Inc (UBET.O: Quote (http://www.reuters.com/stocks/quote?symbol=UBET.O), Profile (http://www.reuters.com/stocks/companyProfile?symbol=UBET.O), Research (http://www.reuters.com/stocks/researchReports?symbol=UBET.O)) said Charles Champion is stepping down as chief executive and chairman, effective Dec 11, to pursue other opportunities.

The company named Gary Sproule as the interim CEO. (Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by Pratish Narayanan)

[Spendabuck85]

From DRF.com
Champion, 53, is stepping down at a time when customers of Youbet’s wholly owned offshore rebate shop, International Racing Group, are under investigation by the U.S. Department of Immigration and Customs Enforcement. In addition, Youbet’s stock has recently been trading at its lowest point in five years, in part because of the investigation and in part because of investor uncertainty over the continuing role of third-party companies in account wagering.
http://www.drf.com/news/article/90708.html

[trigger]

From DRF.com
Champion, 53, is stepping down at a time when customers of Youbet’s wholly owned offshore rebate shop, International Racing Group, are under investigation by the U.S. Department of Immigration and Customs Enforcement. In addition, Youbet’s stock has recently been trading at its lowest point in five years, in part because of the investigation and in part because of investor uncertainty over the continuing role of third-party companies in account wagering.
http://www.drf.com/news/article/90708.html


'bout time

[Form W-2G]

'bout time

I could write for hours why I agree wholeheartedly (UT, IRG, Bruen?) but would simply be rehashing numerous posts on Yahoo message board.

As a long-term shareholder (idiot, I know :bang: ) I hope the change at the top and a quick resolution of IRG mess rights the ship.