Daily Nambling Notes - June 13, 2001

13 June 2002

Tidbits from the UK -- At its annual general meeting today, the British Horseracing Board will address allegations that many U.K. horse races are fixed. The allegations resulted from a television documentary called "Kenyon Confronts." The show featured interviews with three trainers who said horses could be stopped from winning to affect betting handicaps. At William Hill's initial public offering, which is scheduled to begin next week, shares will be selling for between 220 and 230 pence, Dow Jones reports. That price is higher than the initial price range, which the betting company said last month would be in the 190 to 240 pence range. The U.K.-based company could net £750 million if the shares cost 230 pence each.

Makin' Deals -- Television Games Network announced today that it has bought 16.6 percent of Youbet.com's outstanding common shares. TVG, a subsidiary of Gemstar-TV Guide International, was given the option of buying 3.8 million shares of Youbet.com as per a licensing agreement made on May 18, 2001. It has a second warrant to buy up to 51 percent of Youbet.com's outstanding common shares, which expires on May 18, 2004.

New Stuff -- MGM Mirage launched a new Web site today that is aimed at getting more minority-owned and woman-owned business included in its vendor database. The site is part of MGM Mirage's commitment to diversity in the gaming industry, the company said. U.K.-based horse racing group attheraces launched a telephone betting service on Wednesday. Customers will be able to use the same account number to bet via attheraces' Internet platform, digital television platform and telephone platform. Antico Holdings S.A. , a Poker.com licensee, says it is counting down to its 7 millionth hand to be dealt. The company, which implemented second-generation poker software at the beginning of the year, reached its millionth hand on May 21.

Names and Faces Changing Places -- Global Entertainment Holdings/Equities Inc. is appointing Richard Orcutt as the sales director of its subsidiary, Interactive Gaming & Wagering. Orcutt was most recently a regional vice president of sales at ProcureNet/ePlus Systems. Patrick Kehoe, a senior adviser to New York Gov. George Pataki, is being appointed as general counsel to the New York Racing Association. He starts July 1.

World Cupdate -- U.K. bookmakers are raking in the profits as World Cup underdogs win matches, ala the U.S. match against Portugal, reports the Wall Street Journal. However, the newspaper quotes Simon Clare, a spokesman for Coral Eurobet, as saying that slowly, more and more punters are betting on underdogs.

Legal Stuff -- New York regulators have determined that PayPal is operating illegally as a bank. The New York Banking Department is urging the company to apply for a license to be a money transfer agent, which PayPal said it would do by the end of June. Almost 7 percent of PayPal's business comes from New York state. An illegal gambling ring in Israel is taking wagers on the location of the next Palestinian suicide bombing, the Associated Press reports. A representative with the police said an investigation has been opened. A betting ring in the town of Kiryat is offering odds of 1:1.5 that the next target will be Jerusalem, which has already had numerous suicide bombings.

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