Yoomedia's Shares Recover
Interactive services company Yoomedia Plc (YOO.L) has agreed to terms with its large shareholders for a £7 million placing, causing its shares to bounce back from the sharp fall they took a couple of weeks ago when the company first announced that it would issue 28 million new shares at 25p each to raise the £7 million. Chief executive David Doherty said, "This fundraising gives us the firepower to continue on our growth path. We have very exciting opportunities opening up for us in the public sector and in wireless."
Bingo.com's Debenture Conversion
Portal Operator Bingo.com (BIGR.OB) has completed converting a debenture and its accrued interest into the company’s share capital. The debenture of $1.25 million was converted into 10,000 shares of the company at a rate of $0.125 per share. The accrued interest of $400,667 on the debenture was converted into 2,003,334 shares at a rate of $0.20 per share. The conversion will significantly reduce the Bingo.com's interest expense and reduce its stockholders’ deficit.
Upcoming Reports
CryptoLogic Inc (CRYP) will release its financial results on May 10 for the first quarter ended March 31, 2004. The company will host a conference call that may be accessed via webcast. More information is available on the company’s website. Last week CyrptoLogic announced that it had expanded its shareholder base. Andrew Rivkin, a founder and former CEO of the company, sold a portion of his interest in the company. Rivkin sold 825,000 shares at CA$24.00 per share to institutional investors in North America. He still retains an interest in 950,000 shares, which is about 7 percent of the entire outstanding shares in the company.
ukbetting Plc(UKB.L) on May 11, will announce its financial results for the year ended December 31, 2003. In advance of the financial report, the company has issued a trading update, stating that the company’s gaming division has already experienced a significant increase in turnover in 2004, with average gross win up ten percent. ukbetting also says its content division, which is composed of many new acquisitions, is performing well, while advertising revenue continues to grow solidly.
Reports Released
Scientific Games Corporation (SGMS) has posted its financial results for the first quarter ended March 31, 2004, showing a 51 percent rise in revenue to $185.5 million compared to last year’s first quarter revenue of $123.2 million. The company's income before the preferred stock dividend was $20.4 million, an 80 percent increase over last year’s value. EBITDA for the quarter has risen 52 percent to $53 million.
Scientific Games Corporation - First Quarter Report