GAMM Returns to OTC/BB
Global Entertainment Inc.'s (GAMM) stock has been lifted from the pink sheets and is trading on the OTC/BB. Company officials received final clearance Jan. 23, and shares began trading on the bulletin board Jan. 25.
CRYP to Announces Fourth-Quarter Results Thursday
Coinciding with the release of its fourth-quarter and year-end results , Cryptologic Inc. (CRYP) will hold an analyst conference call Thursday. Interested parties can participate by calling 416-695-5806 or
1-800-273-9672. The call will commence at 5:30 PM EST.
TTLN Customer Base Grew During December
Officials at Total Entertainment (TTLN) reported huge customer growth last year, with a 325 percent surge in membership, mostly on the company's OnlineSportsbook.com site. The company expects revenues to reflect the membership increase in the company's soon-to-be released financials.
Sportingbet.com Breaks the IPO Trend
Sportingbet.com succeeded where numerous other dot-coms have failed, by successfully floating its stock on the London Exchange. While many I-gaming companies have seen their IPO plans go down the drain, Sportingbet.com managed to raise £18 million last week during its flotation. It fell short, however, of its £30 million goal. Shares began trading today, initially valued at 120 pence each.
MDI Releases Reports, Enrolls in PAR Program
Lottery game provider MDI Entertainment, Inc. (LTRY) last week reported its second-quarter and six-months results for the period ended November 30, 2000 of its shortened fiscal year originally ending May 31, 2001. (Previously, the company announced that it was changing its fiscal year of June 1 to May
31 to a calendar year, commencing January 1, 2001. As a result, this quarter and six-month period will be the last such period in the fiscal year originally ending May 31, 2001. The company has designated a seventh-month stub period, which concluded December 31, 2000, for this shortened fiscal year.)
MDI's quarterly revenue was $927,200 as compared to $1,467,100 in fiscal year 2000. Its net loss was $719,800 or $0.11 per share on a fully diluted basis as compared to $11,800 and $.00 per share the same time in fiscal year 2000. MDI officials also indicated that the company has a contract backlog exceeding $16 million. "This quarter and the forthcoming December stub period reflect the bottom of the downward financial performance of the company. Commencing with our new fiscal year, which began on January 1,
2001, we are expecting significant revenue growth and a return to substantial profitability," said
Steve Saferin, MDI president and CEO. He added, "There were many very positive developments during this quarter from which the company has already begun to reap benefits. Chief among them was the extension of our New Jersey contract for two years with the addition of a minimum of six new games and
the signing of our first contract with the California Lottery. Also, our strategic alliance with eLot, Inc. (ELOT) was consummated and has begun to pay dividends with the launching of MDI's Internet Platforms in Kentucky, New Jersey and Indiana. The expansion and reorganization of our sales and marketing department is also contributing to our increased backlog. Fortunately, starting in late December, that backlog has begun to translate into actual revenue, yet the backlog continues to grow as we contract with
lotteries for new games. We also are continuing to build on the strong foundation of our strategic alliance with Scientific Games International, a wholly owned subsidiary of Autotote Corporation (TTE). That relationship is stronger than ever and they have assisted greatly in helping us to achieve our goals."
MDI additionally announced that analyst coverage for the company will soon be initiated by the Investrend Research I-Gaming team headed by John M. Dutton. When issued, the report will be available at Investrend's site, www.investrend.com, and other investment-related portals.
Stanley Leisure Releases Figures, Officials Maintain Positive Attitude
Officials at Stanley Leisure Plc (SLY.L) said that they were "comfortable" with the company's trading position, even after reporting that it spent £1.4 million on Internet start-up costs. Figures show that the company had a pre-tax profit for the first six months of £15 million after paying the Internet start-up costs. Further, the company reported an 11 percent increase in betting turnover, hitting £323 million. At the same time, the betting division had a 27 percent increase in profits, while the gaming division saw a five percent increase in turnover. "The betting and gaming industry is in the process of considerable change and Stanley Leisure is well placed to benefit from this change and strengthen its position within the industry," a company press release stated. Among those changes have been the launch of its U.K.-based and Malta-based sports-betting sites, as well as three online casinos. Another casino, targeting upper-scale clientele, is currently under development and will use the Crockford's casino name.
Click here to view Stanley Leisure's annual report.