BoS, US Government Set to Negotiate

The temporary restraining order against BetOnSports (BoS) has been extended another 30 days, as attorneys in St. Louis negotiate a settlement of the civil and criminal charges against the company.

"What we are interested in doing is resolving this matter," BoS Attorney Jeffrey Demerath told U.S. District Judge Carol Jackson in court on Tuesday.

Demerath said discussions between the parties were aimed at resolving both the civil and criminal charges relating to racketeering, money laundering and fraud.

Assistant U.S. Attorney Michael Fagan agreed, telling Jackson, "I think we can resolve matters."

Jackson extended the TRO order until Oct. 16 to allow the parties to negotiate, noting that it remains in full effect until that time.

Yesterday was the first appearance by BoS representation since the charges were brought in July, which BoS Communications Director Kevin Smith said is a show of good faith.

"Clearly this shows that we have been properly served," Smith said.

He took yesterday's ruling as a good sign.

"We're making progress on a daily basis, both commercially and legally," he said. "Everyday we get closer to reaching a settlement with the Department of Justice and refunding our customers."

Meanwhile, ex-CEO David Carruthers remains on house arrest in St. Louis. His trial is set to begin in January 2007.