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Damages Deal is Still Working

There’s quite a bit of unrest in the US betting market right now – and the entire situation is only propelling the debate against legalizing online casinos in the United States. The US has been a battleground for the debate about legalizing forms of internet gambling with full regulations. The cases being brought against YouBet and Churchill Downs though are just giving the opposition more opportunity to claim corruption – but it’s also giving the supporters a chance to point at the YouBet situation and argue that tighter regulatory control in the US market would likely fix these claims that the pending merger between YouBet and Churchill Downs undervalues the company and unfairly penalizes shareholders.

YouBet is a US based online casino betting service that has continued to operate in the US market without federal intervention even though there are fine lines of understanding about the exact nature of the US regulations. At this point though, YouBet announced plans to enter into a merger of sorts with Churchill Downs to offer even wider internet betting services – the only problem is that YouBet shareholders were not getting paid the right amount to justify the merger. Five shareholders have filed a case in Los Angeles against YouBet executives because the shareholders claim YouBet undervalued the company and did not slipped in their fiduciary duty to the company’s shareholders. Damages are sought by the shareholders of the online casino betting company.

YouBet is fighting the case, alleging that the deal has not yet even taken place. The horserace betting industry is hugely lucrative in the US because there are few other forms of legal online casino gambling, so with that in mind YouBet and Churchill Downs ARE in talks about a merger, but YouBet claims that company will sell for a fare value once the merger does take place. This one is going to have to play out in the courts before real clarity is found.