Chimera Secures Financing
Las Vegas-based I-gaming software company Chimera Technology Corp. (CNOC) announced that it has secured a private placement equity financing of $500,000 in addition to the $250,000 private placement financing on Jan. 13. The financing involves the purchase of restricted common stock in Chimera that includes a minimum one-year hold period and restrictions on maximum dispositions for every quarter thereafter. The proceeds of the financing will go toward the company's rapid expansion plans.
AngelCiti Receives Loan
AngelCiti Entertainment (AGEL) has entered into a loan and security agreement for a credit facility of up to US$2.43 million with Bermudan investment company Finanzinvest, Ltd. Florida-based AngelCiti intends to appropriate the proceeds towards the continuing development of its online gambling platforms and its expansion into Asia and Europe.
Vegas Casino Profit Statistics
Following are the gross and net profits on Nevada casinos by area according to the Gaming Control Board.
Statewide: Grossed $18 billion, had EBITDA of $3.68 billion and $845.4 million net income.
Las Vegas Strip: Grossed $10.45 billion and had net income of $513.7 million.
Downtown Las Vegas: Grossed $1.09 billion and reported net profits of $23.9 million.
Interactive Gaming to Collect I-Gaming Sites, then List on AIM
Interactive Gaming, a company that seeks to acquire ownership in many I-gaming portals, services, and sites, announced that it wants to list on the Alternative Investment Market. The company expects to be admitted Feb. 27. Insinger de Beaufort has been nominated as advisor and Insinger Townsley has been appointed as company broker.
Upcoming Reports
Toronto-based software developer CryptoLogic Inc. (CRY.TO) on Feb. 26 will release its financial results for the fourth quarter and year ended Dec. 31, 2003. The company will host a conference call that same day at 8:30 a.m. (EST) and will also provide a live webcast.
Reports Released
Interactive Systems Worldwide Inc. (ISWI), reported its un-audited financial results for the three months ended Dec. 31, 2003, showing revenue of US$8,000. The company received no revenue during the same period last year. ISWI took a net loss of $1,225,000 and a loss per share of $0.13 on the quarter, compared to $1,257,000 and $0.14 during the third quarter last year. The company does not currently generate positive cash flow and does not expect to during the year ended Sept. 30, 2004. Its existing resources should be able to fund its capital and operating requirements for the next 18 months.
Interactive Systems Worldwide, Inc. - Third Quarter Report
The year-end financial report for Swedish gaming systems supplier Boss Media (BOSS.ST) shows that the company has improved in almost every category. Boss raked in $18 million in net sales on the year, up from last year's $15.9 million. $4.5 million in net sales came from the fourth quarter performance in 2003, while $3.9 million was earned in fourth quarter 2002. The company took a $5 million net profit in 2003 after taking a $542,000 loss in 2002. Boss expects that its strong performance will continue in 2004.
Boss Media - Year-end Report
Youbet.com, Inc. (UBET), the California-based horse race wagering company and supplier of horse racing content, received net revenue growth for the eighth consecutive quarter in the fourth quarter of 2003, drawing $5.1 million. However, the company still has not shown a profit in any of its quarters of operation since its launch in 1995. The company experienced yearly increases in gross handle (up 69 percent to $276 million), net revenue (up 89 percent to $18.5 million), and EBITDA (up to $2.1 million after -$3.2 million last year).
Youbet.com, Inc. - Year-end Report
With the help of its sale of its stake in Manchester United, British Sky Broadcasting Group plc (BSY.L) nearly tripled its pre-tax profits for the six months ended December 31st, 2003 to £236 million. The company's sales are up 17 percent for the interim to £1.77 billion. Interactive services soared 62 percent higher on a year-on-year basis to £147 million. In the last quarter of 2003 Sky gained 193,000 more subscribers, bringing its total to 7.2 million. The company announced it will pay a 2.75p dividend per share.
British Sky Broadcasting Group plc - Interim Report