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All bets on Fiji

15 August 2001

Australian company, Southern Equity Holdings, recently proposed to investors the company’s plan to purchase a chain of Fijian betting shops and an inactive Internet gaming licence, licensed in Vanuatu. According to the investor’s shareholders, the proposal was “fair and reasonable”. Although not yet final as the company’s shareholders are yet conduct the final vote to acquire the betting and gaming assets from racing identities Bill and Robbie Waterhouse in return for 32.5 million shares and a $2.5 million convertible note, covering another 12.5 million shares. According to experts, the move will provide a backdoor listing for WaterhouseBet, in addition to providing the initial framework for an online horse racing and sports betting enterprise, targeting Asian gamblers.

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