Online Gambling Surges In Oz
-- According to Lottery Insider
(www.lotteryinsider.com.au), the word out of Australia's Northern Territory is that Lasseters Online
, launched in April, is already turning over more money than the company's land-based casino in Alice Springs is making on table games. The company announced in early October that its online casino saw a turnover of $13.5 million since launching. In September alone it recorded a $4.3 million turnover. Lottery Insider also reported that Lasseters will perform a $3 million overhaul to its website, thanks to the revenue generated in the past six months; the company's online arm is expected to generate 37 percent of its earnings this fiscal year; and the company has 12,600 registered players, with 82 percent of its customers coming from overseas.
Investors' Corner -- The redundantly reduntantly named GIC Global Intertainment Corporation (GGNC) announced today the establishment of its newest wholly owned sudsidiary, Global-Broadcast.com. The new company intends to offer dozens of live audio and video informational and entertainment channels, covering everything from live sporting events, horse racing, dog racing, entertainment and news, to handicapping related programming. The company also announced that its combined revenue for the month of September was $2,452,291.50.
Trident Media Group, Inc. (TDNT), a provider of integrated telecommunications and television network services to the entertainment, sports and wagering industries, reported this week revenue and earnings increases for the third quarter and nine months ended September 30, 1999. For the first nine months of 1999, consolidated revenues from ongoing operations reached $7.3 million as compared to $5.9 million for the first nine months of 1998 (an increase of 25 percent). EBITDA (earnings before interest, taxes, depreciation and amortization) for the nine months ended September 30, 1999 will approximate $1.2 million as compared to $0.4 million for the same period of the prior year. Consolidated revenues from ongoing operations for the third quarter of 1999 increased 4 percent to $3.1 million from $2.9 million in the corresponding period last year. The company says EBITDA for the three months ended September 30, 1999 will approximate $0.8 million as compared to $0.5 million for the same period of 1998.
Interactive Gaming & Communications Corporation announced Thursday that it expects to show consolidated profits for the third quarter of operations ending September 30th 1999. The company expects that its consolidated operating income for the third quarter to be approximately $650,000 on revenues in excess of $2 million or about a 30 percent return on revenues. Year to date figures for the nine months were $1.3 million operating income on revenues of $9 million.
Wheelin' & Dealin' -- Germany-based gambling software developer Q-Seven Systems, Inc. remains aggressive in its pursuit of licensees. The company announced Tuesday that a company called Setec Astronomy will soon be launching an online casino, "Seaside Online Casino," using Q-Seven's User Management Software. On Wednesday, Q-Seven announced that ABBA-1 Investment Inc. will develop three online casinos using Q-Seven software. The company says that the three new sites--Grand Tower Casino, Win-Major-Cash and Royal Dice Casino--are under construction and the first will open its doors shortly.
Poker.com, Inc. has sold its first gaming software sub-license to Antico Holdings SA of Costa Rica. Antico has already launched its multi-player "Texas Hold-em" poker card room for real money wagering. The software was designed by ASF Software Inc. Poker.com, Inc. will earn a marketing and licensing fee of 20 percent for each deposit made by a player. The company also recently announced a marketing agreement with Vote Publishing Inc. in which Vote Publishing's www.galore.com portal and search engine will send approximately 1.5 million unique visitors per month to the www.poker.com site.
New Stuff -- The International Association of Gaming Regulators (IAGR) has launched a website at http://www.iagr.org. The new site features news, event information, a list of members and information on how to become a member.
The aforementioned redundantly redundantly named GIC Global Interntainment Corporation announced this week that its www.y2klottery.com site is now translated to seven different languages.
GalaxiWorld.com has pushed back the release of its multi-language website. The new site will enable speakers of Spanish, German, Portuguese, French, Dutch and Italian to play at GalaxiWorld's online casino. It was supposed to make its debut at the beginning of October 1999, but the company now projects the launch to happen around the end of the year.
On the Advertising Front -- In the big race for Web exposure, it appears that Casino On Net is getting the job done. The online casino managed to crack the Nielsen//NetRatings "Top Ten Ad Banners Viewed" list for the month of September. It sneaked onto the list at No. 9, just behind eBay/First USA.
What Others Are Saying -- In a rare instance in which a mainstream publication takes a pro-Net betting position, The National Post recently published a story blasting Canadian and U.S. authorities for raiding Starnet Communications in August. Here's a taste of writer George Bragues had to say: "Imagine if Donald Trump had a police force at his disposal to rough up anyone who decided to compete with his casinos. He'd be charged with a crime, of course. But say the government does the same thing to defend its gambling interests. What would happen? Why nothing, of course -- it's defending justice." The article goes on to argue that Net betting should be legal and that prohibition is wrong. Visit www.nationalpost.com for the full story.
Quote Worthy -- "Visa has acknowledged that Visa is not everywhere you want to be when it comes to Internet gambling transactions."
-- Ira Rothken, counsel for Cynthia Haines, following a legal settlement in which Visa agreed to forgive online gambling debts acquired by his client and subsequently was required to warn cardholders that online gambling might not be legal where they are located.