Tab Speculation
UNiTAB Ltd. (UTB.AX) announced in a profit guidance last week that its net profit after tax for the six months ending Dec. 31, 2003 should be in excess of AU$27.5 million. Last year the company earned AU$22.34 million in excess during the corresponding period. The $27.5 million does not take into consideration the $5 million that would be paid to UNiTAB if Tab ltd. were to break its merger agreement.
Tab Ltd. also announced last week that it is experiencing favorable trading conditions and expects strong growth in its operating earnings and cash flow. Tab expects to take in a net profit of over $41 million for the six months ending Dec. 31, 2003, an increase of 10.9 percent over last year's first six months figure.
Meanwhile, on Monday several newspapers reported that analysts predict that Tab will break its agreement with UNiTAB so that it may accept the financially superior offer from Tabcorp. Tab has since then replied to the papers that it is still following through on its agreement with UNiTAB, though it is also investigating further Tabcorp's offer.
GTECH to Hold Conference Call
GTECH Holdings Corp. (GTK) is holding its Fiscal Year 2004 third-quarter earnings conference call this morning at 8:30 a.m. EST. Interested parties are invited to listen to the call through the Web site at www.gtech.com or by dialing in via phone at 612-332-0228.
e-bet Satisfied with Solid Year
Australian gaming company eBet Ltd. (EBT.AX) announced at its annual general meeting on Nov. 28, that its consolidated group revenue for the 2003 financial year was $12.3 million, 35 percent more than last year's mark. The company says its most significant development was the acquisition of Turbo Bonus, a company that was Australia's largest supplier of card-based loyalty systems for gaming venues.
Reports Released
Gaming Corporation PLC (GMC.L), a U.K.-based online casino operator and owner of the www.casino.co.uk gaming portal, recently announced its financial figures for the year ended Sept. 30, 2003. The group's turnover has risen to £8.6 million, while last year it was just £842,593. Gaming Corporation also boasts that its online casino at www.play.casino.uk is trading profitably and that over 100,000 unique visitors have flocked to its gambling portal at www.casino.co.uk. The group has year-end assets of £1,473,077, a little less than last year's £1,689,077.
On Nov. 26, Gaming Corporation placed 26,000,000 new ordinary shares of 1p each at a price of 2p per ordinary share. The company says the £520,000 in gross proceeds of the placing will be used toward funding acquisitions and continuted growth. The shares represent about 19.5 percent of the group's enlarged issued share capital.
Gaming Corporation plc - 2003 Yearly Report