AngelCiti Win and Handle Up
Worldwide Management, a subsidiary of AngelCiti Entertainment (OTC: AGEL), says its gross net win rose to $355,478 in the third quarter of 2003, up 102 percent from last year's $175,451. Net handle rose 53 percent to $10,536,663.
Chimera Splits Stock
Internet gaming software provider Chimera Technology Corp. (OTC-Pink Sheets: CMRD) announced that its board of directors has approved a 5-for-1 stock split payable to shareholders of record at the close of business on Nov. 5, 2003. The split is designed to improve trading liquidity and to attract more investors. There will be 50,500,000 outstanding shares after the split. The company says more news releases will be issued before the pay date to advise shareholders about the company's new trading symbol and new CUSIP number.
Rank Sells Slots Unit to Cut Debt
Rank Group PLC (RNK.L) said Thursday it would sell its slot-machine unit, Rank Leisure Machine Services, to Gamestec Leisure Ltd. for £30 million to cut the company's debt. Rank has a debt-to-equity ratio of 0.78.
Tabcorp's Yearly Revenue Down
Tabcorp Holdings Ltd. (ASX:TAH) Managing Director Matthew Slatter said Thursday at the company's annual general meeting that total gaming division revenue for the company was down 12.1 percent for the year to date, but it had increased 0.2 percent in September and 4.7 percent in October. Tabcorp attributes the decrease to the smoking bans that took effect in Victorian casinos last September. Wagering revenue, however, has grown 5.2 percent for the year to date.
Reports Released
Magna Entertainment Corp. (MECA) announced Thursday its financial results for the third quarter of 2003. The company's revenues for the term rose 59.7 percent to $104.5 million; revenue for the first three quarters combined rose 27.2 percent to $562.9 million. Net loss for the third quarter increased to $15.4 million, compared to last year's third-quarter loss of $9.7 million.
Magna Entertainment Corp. - Third Quarter Report
Scientific Games Corp.'s (SGMS) financial report for the third quarter and nine months ended Sept. 30, 2003 show that revenue for the third quarter increased to $132.1 million, 15 percent better than last year's $115.2 million. EBITDA rose 21 percent to $37.9 million from $31.3 million last year. Revenue for the first three quarters combined increased to $384.1 million, 14 percent greater than last year's $336.4 million.
Scientific Games Corp. - Third Quarter Report
Youbet.com, Inc. (UBET), the largest provider of horse racing content in the United States, has produced positive net revenue growth for the sixth consecutive quarter. The company's gross handle has increased to $72.5 million in the third quarter 2003, rising 57 percent higher than last year's third quarter mark of $46.3 million. The gross handle for the first three quarters of 2003 combined is $206.8 million, which is 83 percent better than last year's $112.9 million. Net revenue has grown from $2.6 million last year to $4.8 million this year. Net revenue for the first three quarters combined has improved to $13.3 million, doubling last year's $6.6 million.
Youbet.com Inc. (UBET) says it will soon reissue a proxy statement and announce the date of its rescheduled annual meeting. The meeting was scheduled to take place in September, but was postponed by a court order after TVG filed suit, claiming that Youbet was attempting to pass resolutions that would amend the company's charter and by-laws, thereby nullifying a contract with TVG, who operates as ODS Technologies. Youbet, which is going to arbitration to address its dispute with TVG, says the new proxy will contain the same key proposals as before and will fully comply with the court order.
Youbet.com Inc. - Third Quarter Report