Daily Nambling Notes - July 24, 2002

24 July 2002

Names and Faces Changing Places -- For the second time in two weeks, CryptoLogic is saying goodbye to a high-ranking member of its management team. The gaming software company announced Tuesday afternoon that effective Aug. 2, David Outhwaite will resign his position as COO. "The decision to move on was a difficult and personal one," Outhwaite said in a press release. "However I believe that the accomplishments during my time here and the world-class team we have in place position CryptoLogic to capitalize on the rapidly growing and international gaming market." CryptoLogic's CEO, Jean Noelting, resigned July15. Yesterday the company also said Vice Chairman Robert Stikeman will be overseeing its regulatory compliance team along with John Chalmers, who began working for the company in April.

New Stuff -- InterCasino.com reports today that one of its recent winners is considering taking his $119,936 winnings in euros instead of U.S. dollars because of the dollar's shrinking value. "You can earn yourself thousands extra in a volatile exchange rate market by making informed payout decisions," the online casino said in a press release. ... BETonSports is launching a new customer loyalty program that consists of a VIP Club at its headquarters in San Jose. The club will open on Aug. 24 and will include a restaurant, bar, rooftop pool, steam room, massage services and land-based casino. The telephone and Internet gaming company said "celebrities, athletes and media" like Carmen Electra and The Pussycat Dolls will be visiting the club.

Tidbits from the UK -- A committee of MPs is recommending that gaming companies be required to pay an extra tax that would fund problem gambling organizations and research about gambling addiction. While the U.K. gambling industry already pays into a fund that supports programs that assist problem gamers, the committee is saying that those organizations should not have to rely on the voluntary help of the industry. The committee is calling for the "simply prescription of polluter pays." Between 275,000 and 370,000 people in the United Kingdom are estimated to be addicted to gambling. ... U.K. bookmakers are reportedly sighing in relief after Tiger Woods lost the British Open last weekend. Ladbrokes Spokesman Dave Greenwood said that if Woods had won all four major tournaments, it would have cost the company £750,000.

Anne Lindner can be reached at anne@rivercitygroup.com.