AngelCiti Stock Split and New Ticker Symbol
AngelCiti Entertainment, Inc. (OTCBB:AGEL), a provider of online casino software, enacted a 4-for-1 forward stock on Wednesday. The company has also been given a new ticker symbol by the NASD and now trades under the symbol AGEL (previously AGLC). The company expects the new capital structure to attract a wider variety of investor interest.
Holdings Company Buys Interest in Scientific Games
MacAndrews & Forbes Holdings Inc. has acquired the entire interest in Scientific Games Corp. (SGMS) that had been held by Cirmatica Gaming, S.A., a subsidiary of Lottomatica S.p.A. in Italy. The interest, which is held in the form of Series A convertible preferred stock and Series B preferred stock, represents about 24 percent of the equity and voting power of Scientific Games. The interest was purchased for about $194 million. At the closing, which will occur before Dec. 5, MacAndrews & Forbes will be able to nominate four members to the board of directors and will have the same voting and governance arrangements Cirmatica had.
The Federal Trade Commission has granted early termination of the Hart Scott Rodino waiting period, allowing Scientific Games to proceed with its acquisition of IGT OnLine Entertainment Systems, Inc., an online lottery subsidiary of International Game Technology, for US$143 million in cash. Scientific Games says the merger will be completed within 30 days.
CryptoLogic to Release Results Next Month
CryptoLogic Inc. (CRY.TO) on Nov. 5 will release its financial results for the third quarter ended Sept. 30, 2003. A conference call will be held Nov. 6 at 8:30 a.m. (EST) with a live webcast. CryptoLogic's management will discuss the third-quarter financial results and recent developments. The event will be concluded by a question and answer period.
Intralot's Shareholders Receive Larger Dividend
Last week Intralot S.A.'s board of directors declared an interim dividend of $0.41 per share for the fiscal year of 2003, which is an increase of 20.7 percent over last year's dividend. All shareholders as of Oct. 15 are entitled to the dividend. Intralot, a Greece-based developer of integrated systems and a provider of many services for the lottery industry, says its decision is based on the strong financial position of the company and its successful results.
Reports Released
The annual report for New Zealand's Lotteries Commission, which obtained the right to put games online last month with the passing of the country's new gambling bill, was tabled in the House this week. The commission experienced a significant turnaround in sales performance during the fourth quarter ended June 30, 2003, with sales of NZ$95.9 million, up 2.2 percent over the same quarter the previous year and up 11.8 percent on the previous quarter this year. The commission's net profit for the year, $74.6 million, was $1.9 million above budget.
New Zealand Lotteries Commission - 2002/2003 Annual Report