Market Briefs - Sep 29 - Oct 3, 2003

Betinternet's Profit Warning

Denham Eke, Chairman of betinternet.com plc (BET.L), gave notice of company struggles at its annual general meeting Sept. 25. Eke said the company's profitability has been negatively affected by poor margins and a lack of major soccer competitions this summer. Profit is waning so the company has hired consulting agency Sports Gaming to assist in reviewing its risk management strategy.

Sportingbet's Bad Luck

Sportingbet plc (SBT.L) has lost about £2 million in the past two weeks because of streaks of victories from favorites. According to a spokesperson, "The three major sides in each of the top five European leagues have played about 120 games, and only three have resulted in wins for the underdog, with just eight draws." The company expects to report about £500,000 for the half-year to Sept. 30, about £2 million below its previous expectations.

AngelCiti Stock Split

AngelCiti Entertainment, Inc. (AGLC.OB) has says it will implement a 4-for-1 stock split Oct. 16. It has also obtained a new CUSIP number and will change the par value of its shares. To benefit from the stock split, shareholders must return their existing share certificates.

Resignations and De-registration

dot com Entertainment Group, Inc (DCEG) announced Friday that it wants to de-register its common stock. An SEC rule allows companies to avoid costly filing requirements by de-registering, but as a consequence the company will no longer be quoted on the OTC Bulletin Board. The company's shares will continue to be quoted on the Pink Sheet Electronic Quotation Service under the present DCEG symbol. The company intends to file a Form 15, which immediately suspends its obligation to file periodic reports with the SEC, including Forms 10-KSB and 10-QSB. De-registration becomes effective 90 days after the filing of the Form 15. DCEG has also postponed its application for a listing on the TSX Venture Exchange in Canada. Several members of the board, including Chairman Robert Olsen and CEO David Outhwaite, have resigned.

Reports Released

Sportech plc's (SPO.L) financial report for the six months ended June 30, 2003 boasts a 30 percent increase in pre-tax profit from last year's £4.7 million to this year's £6.1 million and a 10 percent increase in turnover from £96.7 million to £106.3 million, as well as a 34 percent increase in betting turnover. The company, who operates Littlewoods Pools, is reporting a £1.8 million loss in betting operations, due to poor horse racing results that have adversely affected the entire industry. Earnings per share have risen 16 percent to 0.73p and net debt has been reduced by £6.3 million to £119 million. Sportech anticipates even more growth from its ITV services next period after having launched an attheraces channel in August and successfully completing a trial test of its betting system for the television show I'm a Celebrity Get Me Out of Here.