Daily Nambling Notes - July 19, 2002

19 July 2002

Names and Faces -- David Craven was named the newest CEO of World Gaming plc on Friday. The company made the announcement through a press release and is hoping that Craven's previous experience in e-commerce and the gaming industry will help lead the company to new heights. Craven is the founder and former CEO of 24dogs, an Internet and digital TV greyhound-racing business owned by global gaming giant Wembley plc. In its first year, he took the company from a start-up position to an organization with 20,000 customers, £11 million in gross revenue and a valuation by Merrill Lynch of £125 million. Craven moved from an award-winning career in journalism into the world of the Internet in 1994 with the launch of the United Kingdom's first online tabloid newspaper, The Daily Record and Sunday Mail. Subsequently, he launched Europe Online, followed by LineOne, a consumer Internet service from News International and British Telecom, and then NetChannel, the United Kingdom's first TV set-top box Internet service.

Tidbits from the US -- Six months into the rollout of its advance deposit wagering system, the California Horseracing Board released new figures for the three licensees who offer the service via the Internet and telephone. Through July 6, $66.3 million was bet through ADW, representing 5.7 percent of total California wagering of $1.1 billion since Jan. 25. California residents bet $28.2 million, or 42.66 percent of the ADW handle, through TVG; $21.2 million, or 32 percent of the total, through Magna Entertainment’s XpressBet; and $9.4 million, or 14.2 percent of the total, through Youbet.com. Out-of-state betting was 11.13 percent of ADW. ... The U.S. House of Representatives voted Wednesday against a bill that would have created a commission to study the Indian gaming industry. The bill, which failed 273-151, would have created a probe similar to the two-year federal inspection of casinos, lotteries and other gambling that was conducted in 1999. Nevada's two representatives were split on the issue, with Rep. Jim Gibbons, R-Nev., for it and Rep. Shelley Berkley, D-Nev., against it.

Tidbits from the UK -- As part of a renewed interest in the gaming market, Xworks plc plans to reorganize its share capital and change its name to Gaming Corp. plc. The U.K.-based firm said its online casino business, casino.co.uk, has outperformed other aspects of the company. ... Not even two months into its operation, Ladbrokespoker.com announced that on Monday it will deal its millionth hand. The site has grown beyond expectations, according to company executives, with players from 68 countries keeping the site busy around the clock. Players can purchase chips in up to 15 currencies without any currency exchange costs. Ladbrokes said it will be rewarding the customer who receives the millionth hand.

Tidbit from Down Under -- The Australian Bureau of Statistics released its findings on Friday of how Australians spent their money gambling throughout last year. According to the figures, nearly $14 billion was spent on slot machines, lotto, horse racing and other forms of legal gambling last year. On average, each Australian adult gambled $944 in 2000-01, up 21 percent since 1997-98.