Market Briefs - Feb 28 - March 4, 2005

World Gaming Appoints Advisors for AIM Float

U.K.-based I-gaming software provider World Gaming Plc (WGMGY.OB), has appointed London-based Investment bank Daniel Stewart & Co. as its advisor for listing on the Alternative Investment Market of the London Stock Exchange. The company already trades on the over-the-counter bulletin board of the NASDAQ exchange, but it believes that trading shares on a more stable and liquid trading platform should be an important part of its strategic development. The company expects to complete the listing before the end of the second quarter.

Share Placement Raises £10 Million for Gaming Corp

Gaming Corporation Plc (GMC.L) has raised £10 million by placing 71.5 million new ordinary shares of 1p each at 14p per share. Existing shareholders are placing 30,492,049 ordinary shares to further increase liquidity in the company's shares. The existing shareholders' placement will result in a 50 percent reduction in management shareholdings.

Cherry Acquires 100 Percent of Betsson

Swedish gaming company Cherryforetagen (CHERb.ST) two weeks ago purchased 100 percent of the outstanding shares in Internet betting company Betsson.com Limited. Betsson's core offering is a betting exchange, but the company also operates a casino and poker room in the English, Swedish, German, Italian, Norwegian, Finnish, Dutch and Czech languages. The company has over 80,000 registered customers, with 29,200 of them joining during the fourth quarter of 2004 and 12,000 joining in January 2005. Cherry has been investing in Betsson since 2003, but until recently held only a 30 percent stake in the company. Cherry is also the owner of gaming software provider Net Entertainment, which provides Betsson's casino platform.

NETeller Acquires Chinese Payment Processor

NETeller Plc (NLR.L) has acquired Macau-based debit card payment processing firm Quick Access for US$12.5 million. Quick Access is the operator of 1Pay, an online payment transaction system that serves a large number of online gambling operators targeting the Chinese market. For the last two months, however, the Chinese government has taken a vigorous approach toward eradicating online gambling, and as a result, 1Pay has reportedly stopped accepting new customers (although it is still facilitating transactions). NETeller recently appointed Benjamin Lee, a former deputy trade minister in the Hong Kong government, as vice president and general manager of Asian operations. The company's shares soared ahead 33p on the day, reaching an all-time high of 655.5p.

Reports Released

I-gaming software provider Chartwell Technology Inc (CWH.TO) has announced its financial results for the first quarter of 2005, reporting $4.8 million in revenue compared to just $2.2 million during the same period last year. The company also received net income of $1.5 million or $.08 per diluted share during the quarter, while last year it received only $386,000 or $.03 per diluted share.