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Bwin Fined $10,000 in New Jersey

Internet betting firm Bwin.Party has been fined $10,000 by the New Jersey Division of Gaming Enforcement because of a breach by one of its shareholders in part of a divestiture agreement that was part of the licensing process in the Garden State.

The violation comes after shareholders Ruth Parasol and Russel DeLeon agreed to put in shares of their company into trusts that would be divested over a period of three years once the company was granted a New Jersey gaming license. The NJDGE says that the agreement was breached because the company did not: "...provide notification to the division, which could increase the duration of the disposal period and have the unintended consequences of affecting the independence of the trustees in the performance of their duties."

Bwin currently teams up with the Borgata casino hotel in Atlantic City to provide online gaming services to customers in New Jersey.

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