Daily Nambling Notes - June 25, 2002

25 June 2002

Tidbit from Down Under -- The Australian Federal Court today dismissed an appeal to a court case between gaming company Jupiters and the Australian Taxation Office. Jupiters said it has set aside $10 million to use in case the appeal did not turn out in its favor. The case concerned the tax deductibility of the lease on a Jupiters hotel-casino complex. Rob Hines, Jupiters managing director and CEO, said the final legal fee will be $12.2 million and that the company will not appeal again.

Names and Faces -- Christopher Stoddart is resigning his position as chief executive of attheraces less than one year after the company began. Stoddard said he will stay with the company for the next six months to help with the launch of interactive features on the attheraces TV channel, which has already been postponed by a month. Youbet.com is hiring Investor Relations International to consult on its new investor communications program. David Marshall, Youbet.com's CEO, said his company would like to increase investment interest.

Makin' Deals -- Boss Media today said it has signed a deal with bet365 Ltd. , the telephone and Internet betting section of bet365 Group. Boss will be supplying the U.K.-based bookmaker with an Internet casino in Spanish, English and Cantonese; bet365 will use its own payment system and player support. Peter Bertilsson, CEO and president of Boss Media, said his company has signed several deals with Internet bookmakers who wish to add casino games to their sites. "This is another contract with a big sports book operator," he said. "We've seen high demand from these operators to add an Internet casino to their sports book, since the conversion of players is high." Boss Media has also provided casino games to Victor Chandler Group and Sportingbet.com. Ladbrokes, the giant U.K.-based bookmaker, announced a deal today that will give its customers a wireless payment solution. The company has partnered with paybox, a leading provider of wireless payment solutions and transactions. The deal will create a system that will allow any customer in the United Kingdom with a bank account and mobile phone to pay for bets at Ladbrokes.com. As an alternative to using a credit or debit card when placing a bet online, paybox users are simply requested to enter their four-digit PIN to authorize payment. Besides offering Ladbrokes' customers simplicity and convenience, paybox provides security by eliminating the need for consumers to provide banking details online. Ladbrokes said the paybox system will be integrated into the Ladbrokes Web site immediately.

Quote Worthy -- "When an institution survives that long, you can be sure that whoever is managing that institution is a very intelligent, canny businessman, and Stanley Ho certainly meets that description." -- Steve Wynn giving a little tycoon-to-tycoon appreciation to Stanley Ho, as well as acknowledging the competition in Macau, in an Associated Press article, June 25