Market Briefs (Aug. 5-9)

Youbet.com Switched to Nasdaq SmallCap Market

The stock of Youbet.com Inc. (UBET) was transferred to the Nasdaq SmallCap Market from the Nasdaq National Market at the start of trading on Friday.

The company will still trade under the ticker symbol "UBET." Youbet.com said investors should not notice any difference in how they get quotes on the company's stock or in the trading of it.

Ainsworth Estimates Downgraded

Ainsworth Game Technology (AGI) received AU$17.3 million in customer receipts, according to its recent financial statement. The company manufactures land-based gaming machines and announced in January that it is providing exclusive games for Kerry Packer's Crowngames.com.

The Australian company's net operating cash flow was negative AU$26.4 million, partly due to having to pay AU$4.6 million in costs relating to an IPO. Revenue of AU$55 million was predicted for the year, but that prediction has been downgraded to AU$28 million. Analysts are also downgrading the company's 2003 revenue projections of AU$66 million.

ukbetting Sells Stake in Radio Tara

Online gambling and sports content company ukbetting plc (UKB) unloaded its holding in Radio Tara on Wednesday.

The group sold its 80-percent stake in Radio Tara to RTE for a nominal amount of money. RTE had already owned 20 percent of Radio Tara and will now be its sole owner. ukbetting took possession of its share of Radio Tara a few weeks ago when it purchased TEAMtalk Media Group plc for £14 million.

On Wednesday, ukbetting released a statement saying that after TEAMtalk acquired Radio Tara, a mere nine months before ukbetting bought it, Radio Tara lost 60 percent of its audience and had losses of £2.2 million.

Xworks Reports EBITDA Profit

London-based company Xworks plc experienced a profit in EBITDA during its third quarter. The company said the result is from strong cost controls and good financial performance of Casino.co.uk, one of its trading subsidiaries.

The company said it will change its name to Gaming Corp to more accurately reflect its focus on Casino.co.uk. Justin Drummond, chief executive, said the company expects continued success.

"With the group having achieved a profit at the EBITDA level, and by continuing to focus on the considerable opportunities within the gaming sector, the prospects for the business remain very exciting," he said.

Wembley To Concentrate on Track Gaming Business

Wembley plc (WMY) said Wednesday that it has sold Wembley (London) Ltd. to Quintain Estates and Development for £48 million cash.

In doing so, Wembley parts with the 44-acre site next to Wembley Stadium, all of operations on the Wembley site, Wembley Arena, Wembley Conference and Exhibition Centre, office buildings and car parks.

Wembley said it wants to concentrate on its core business, track-based gambling. The company will receive its payment in three between the day of the sale and Dec. 1, 2004.

CryptoLogic Conference Call Aug. 14

CryptoLogic Inc. (CRYP) will hold a conference call to discuss its second-quarter results on Aug. 14 at 8:30 a.m. EST. The call will be Webcast on CryptoLogic's Web site, www.cryptologic.com and on www.Q1234.com and www.newswire.ca/webcast/. A replay of the conference will be available on the latter two sites. To access the call by telephone, call 416-695-5806 or 1-800-273-9672. Until Aug. 21, a replay of the call is accessible by calling 416-695-5800 or 1-800-408-3053 and entering the code 1230235.

Youbet.com Conference Webcast Aug. 15

Youbet.com (UBET) will hold a conference Webcast to discuss its second-quarter results at 5 p.m. EST on Aug. 15. The conference will be accessible via the company's Web site, www.youbet.com. A reply of the conference will be available for 90 days on the Web site or until Aug. 22 by calling 1-800-642-1687 in the United States or 1-706-645-9291 internationally. The conference identification number is 4977356.

Reports Released

Kerzner International Ltd. (KZL), formerly Sun International Hotels Ltd., has announced second-quarter recurring income of $21.5 million and earnings per share of 75 cents. In the period last year, recurring earnings were $21 million and earnings per share were 75 cents.