MTG Enters I-Gaming Space
Modern Times Group AB (MTGb.ST), an international media group with operations in more than 30 countries and principal broadcasting businesses in Scandinavia, the Baltic States, Hungary and Russia, has taken its first venture into interactive gaming by acquiring 19.9 percent of the company that operates www.bet24.com. Launched in 2001, Bet24 has about 20,000 registered customers in Denmark and plans to expand into new territories and to launch more products this year.
YooMedia Issues New Shares
YooMedia plc (YOO.L), a digital TV and wireless entertainment company that provides various services including gambling products, has issued and allotted 240,002 new ordinary shares of 1p each to certain employees and ex-employees after the exercise of EMI share options. The shares were admitted for trading Friday on the AIM.
Chimera Places Private Equity Financing, Prepares for Launch
Chimera Technology Corp. (OTC:CNOC), a Las Vegas-based I-gaming software and e-commerce services company, has completed a private placement equity financing of $250,000 and is in the process of negotiating another private placement equity financing of $500,000 that involves the purchase of Chimera's restricted common stock. Chimera has already begun receiving revenues from Market System, Inc., which became Chimera's first licensee in December, and plans to soft launch www.724sportsbook.com between Jan. 27 and Feb. 3. Chimera has installed a backup power plant at its facilities in San Jose, Costa Rica and has formed a partnership with an online payment solutions provider in Europe.
America Tab Flourishes After Losing Magna's Signal
America Tab, a race wagering provider licensed by the Oregon Racing Commission, has seen its handle soar 50.5 percent in the first days of 2004 after Magna Entertainment Corp. stopped sending its signals from the Santa Anita and Gulfstream tracks on Dec. 26 and Jan. 3. America Tab received $3,172,564 in bets in the first 12 days of 2004 without the signals, but only received $2,106,872 in the first 12 days of last year with Magna's transmissions. The success is due partly to a group of punters that have organized a boycott against Magna and partly to rebates that America Tab has offered on certain signals that have been less popular in the past. Some speculate that Magna pulled its signals to catalyze growth at its XpressBet Internet betting platform.
Upcoming Reports
Stanley Leisure Organization plc (SLY.L) on Thursday will announce its interim results for the half-year ended Oct. 26, 2003 amid speculation that the company will post a pre-tax profit somewhere between £19 million and £22 million due to heavy losses at its Crockfords Casino.
Harrah's Entertainment, Inc. (HET) will discuss its fourth-quarter and full-year results for 2003 in a conference call on Feb, 4 at 9 a.m. (EST). See the company's Web site for more information.
Reports Released
Horse Racing Ireland (HRI) figures for 2003 show that the organization achieved an 8.5 percent increase in attendance and a 14 percent increase in betting, due in part to an extra 24 race meetings this year. HRI also increased its number of fixtures this year by nine percent, from 279 to 303. Chief executive Brain Kavanagh noted that sponsorship was a big part of HRI's success. "The growth of race sponsorship in 2003 is perhaps the best indicator of future prospects for the industry," Kavanagh said. "We expect continuing support from existing sponsors and we look forward to welcoming some exciting newcomers in the year ahead. Given an encouraging start to the year, the quality of horses in training and the implementation of further racecourse capital development plans we can look forward to continuing growth across all of racing’s key performance indicators this year."
Horse Racing Ireland - 2003 Yearly Results