Market Briefs (Nov. 4-8)

Net Income Falls At Crypto

Online gambling software provider CryptoLogic Inc. (CRYP) announced a fall in net income to $1.3 million in this year's third quarter from $4.4 million in the same quarter last year.

The drop translates to a loss of 19 cents per share. Executives say that even though net income fell, the company still beat management's expectations of $1.2 million in profits.

Third-quarter revenue totaled $8 million, down from $10.7 million during last year's third quarter. Lewis Rose, the company's interim president and CEO, said the company made good on its commitments.

"CryptoLogic performed well, achieving solid earnings and cash flow in what is traditionally the slowest quarter for Internet gaming," he said. "We continued to demonstrate leadership in regulatory compliance with the certification of our casino software to the Isle of Man's exacting standards. We also delivered exciting new products and customer sites that should have a significant impact on CryptoLogic's international growth in 2003 and beyond."

Stanley Leisure Achieves Targets

Stanley Leisure (SLY.L), which plans to publish its interim results for the period ending Oct. 27 on Jan. 23, said so far this year its performance is in line with the expectations of its board of directors.

Financial trading has seen improvements in both the betting and gaming divisions in the six-month time frame, the company said.

In addition to having an online betting site, Stanley Leisure operates 600 betting shops and 40 land-based casinos.

Kerzner and Kersaf Reach Settlement

Kersaf Investments Ltd., an investor in Kerzner International Ltd. (KZL.L), will have until Feb. 28 to sell at least 2 million shares of Kerzner in a registered public offering. The deadline of the sale was extended last week from the previous deadline of Oct. 31.

Kerzner said on Nov. 6 that it has reached a settlement with Kersaf on a number of matters, including the share sale and non-compete agreements.

In addition, Kerzner lifted Kersaf's obligation to make a yearly $3 million "contribution payment" after Dec. 31 of this year.

Kerzner said it has also agreed to end all of its existing lawsuits involving Kersaf.

Multimedia Games Conference Call Nov. 13

Multimedia Games Inc. (MGAM) will hold its yearend 2002 earnings conference call at 8 a.m. on Nov. 13. The company's fiscal year ended Sept. 30. To participate in the conference call, visit www.shareholder.com/mgam/medialist.cfm at least 15 minutes before the conference starts. A replay of the call will be available at the same site two hours after the call has ended.

Reports Released

British Sky Broadcasting Group plc (BSY.L), which hosts the interactive betting channel attheraces, reported that its operating profit before goodwill has increased a record 69 percent to $117 million. The company's profit before tax and goodwill for the three months ended Sept. 30 was $67 million. Advertising revenue is up 12 percent to $93 million.