Sportingbet.com Reports Impressive Financials
Sportingbet.com has seen a sizeable upswing in its turnover, according to Financial Times, which reported the company's financials for 12 months to March 31 as £27.4m compared to the previous year's £614,347. Spending rose as well, climbing from £768,000 the previous year to £26.6m. Pre-tax losses were £5m, less administration expenses that included £1.2m for software development and an exceptional charge of £1.2m to secure an eight-year Asian marketing agreement. FT also reported that the re-branding of Betmaker.com, which the company purchased in May, should be completed in early 2001.
Crypto Releases Second Quarter Results
"CryptoLogic continues to show its strength and profitability within the global Internet arena," says the company's CEO Andrew Rivkin, commenting on the company's second quarter results. The company is reporting a 15.2 percent increase over the same period in 1999. Total revenue for the second quarter ended June 30, 2000 increased to $9.1 million, up 15.2% from the second quarter of 1999. Net income was $4.7 million, compared to $4.9 million in the same period in 1999. On a fully diluted basis, earnings per share were $0.31 for the second quarter of 2000, compared to $0.32 in 1999. For the six months ended June 30, 2000, the Company's revenue rose 11.7% to $18.1 million compared to $16.2 million in the prior year period. Net income for the six-month period was $8.8 million versus $10.3 million in the same 1999
period.
Go Call Files Amended 10-SB
Looking to get back off the Pink Sheets, Go Call Inc. has filed an amended form 10-SB with the Security and Exchange Commission. Company officials hope for a quick turnaround to begin moving toward a Bulletin Board (BB) listing. According to CEO James Palmer , Go Call officials have
worked hard to answer the SEC's questions and hope to eventually be fully listed on the Nasdaq.
PENN Extends Closing for Tender Offer
Penn National Gaming has extended the closing date of its tender offer for outstanding 10-5/8 percent senior notes due 2004 until 2:00 p.m. on August 4, 2000. The tender offer was originally scheduled to expire on August 1,but company officials wanted to accommodate the execution and funding of a
new group of lenders.
PlayandWin Extends Agreement with Thomson Kernaghan & Co.
PlayandWin Inc., the exclusive license holder for Internet Racingo (R), as well North American on-course and off-course versions, has entered into a best efforts agreement with Thomson Kernaghan & Co. Ltd. to raise $1.5 million minimum and $3 million maximum. Price of issuance is $1.50 per share with
a $2.25 whole warrant attached.
Three-for-One Splits
A few weeks removed form Congress's failure to pass the Goodlatte bill, United Casino Corp. and Poker.com last week separately announced three-for-one stock splits.
The Penny Stock Picker
Investors in Internet gambling properties are no strangers to penny stocks. For those who fancy playing the penny stocks, investment analyst Steve Reid has launched a free newsletter that focuses specifically on the penny stock market. You can check it out at thepennystockpicker.com.
New Service Provides One-on-One Advice
iAnalyst.com has unveiled a new online financial service that enables individual investors to consult personally with professional equity research analysts. Investors using the service, which is free of charge through August, can utilize direct, live interaction with qualified stock market experts, a privilege normally reserved for institutional investors with multi-million dollar accounts. For more information, visit www.ianalyst.com.
Two Busted in Online Stock Fraud
The Associated Press reports that a Richardson, Texas woman and a Los Angeles
man were arrested Wednesday on charges of fraudulently using confidential information to
drain $1.5 million from online stock trading accounts and various credit card companies. The two are accused of stealing more than $700,000 from the online stock trading accounts of eight U.S.-based employees of Swedish telecommunications giant Telefonaktiebolaget LM Ericsson.