BetonSports will be closing down its U.S. facing online betting business, following an agreement to accept a Permanent Injunction with the District Court of Eastern Missouri, which replaces the former restraining order that U.S. officials put on the company in July when Chief Executive Officer, David Caruthers, was arrested in New York. With the injunction in place, BetonSports will be forced to shut down its Costa Rica and Antiguan offices, and return all outstanding funds to its U.S. online account holders.

The company said it agreed to the injunction following legal counsel from both U.K. and U.S. sources who advised that by doing so, BetonSports would facilitate the legal process and help to settle and minimize any outstanding criminal allegations against BetonSports. And while BetonSports agreed to give back all outstanding funds to U.S. bettors, they said this would be contingent on the company's own collection of outstanding debts owed to them.

BetonSports made it publicly known that although having agreed to the injunction, it has been done so without declaring any admittance whatsoever of having committed any of the allegations in the restraining order. The company further stated they are still in negotiations with the Department of Justice in order to settle all criminal charges once and for all.

In the meantime, BetonSports sold their Hooball sportsbook and online casino back to the sites former owners for £1.2 million in cash on Thursday. Having originally paid US$10 million in cash for the site, which was marketed in Asia through BetonSport's Malaysia-based EasyBet's platform, the company said it had no other choice but to take a loss on the deal in order to help pay outstanding collections related to the actions of the U.S. Department of Justice.

BetonSports was able to acquire nearly 4 million shares back from the deal, which in itself sheds light at the end of the tunnel for this embattled online sports betting and casino gambling operation.