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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Global Market | LSE:GMC | London | Ordinary Share | KYG3927E1145 | ORD USD0.0002 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 50.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Gaming Corporation PLC 6th April 2005 Acquisition of Got2bet.com ("Got2bet" or "Go2bet.com") The Board of Gaming Corporation plc ("Gaming Corp" or "the Company"), the owner of the UK's number 1 gaming site www.casino.co.uk, announces the acquisition of Got2bet.com, a leading international Gaming portal. Got2Bet is one of the most recognized and innovative online gambling portals. Established in March 2000, Got2Bet is a key source of online casino information in English and Chinese, with extensive online casino reviews and ratings, news, and message boards. For the six months ending 31 January 2005, Got2bet.com generated a net profit of US$106,340. Consideration of US$270,000 for the acquisition will be satisfied in cash with an initial payment of US$120,000 and three equal instalments of US$50,000 payable two months, four months and six months after completion. Further payments calculated as 50% of the first 6 months profits will also be paid as part of the consideration. Got2Bet's pioneering concepts include the progressive jackpot tickers and pull downs which are now seen all over the internet. Special contests and promotions are staged on the site such as the Mystery Casino promotion (in conjunction with Casinomeister.com). Got2Bet was also the first gaming portal to feature a free Flash-based casino. Its latest innovation was the online ad space auction (with Casinomeister.com) in which the two sites raised $111,000 from winning bidder Intercasino.com for tsunami relief efforts. The founder of Got2Bet, Ted Loh is recognized as one of the leading experts in the online gambling industry, and in particular for his extensive knowledge of the Asian market. He has spoken and moderated sessions at more than 15 gaming conferences in the past three years on topics ranging from Asian marketing to mobile gambling and affiliate marketing, and has made presentations on Asian land-based gambling as well. Justin Drummond, commenting on the acquisition, said; "Got2bet has an international customer base which opens a new market place for Gaming Corporation; the application of our technology, marketing and sales infrastructure will allow Got2bet to grow substantially over the coming months." "We are very excited to be working with Ted, who is widely regarded as an industry expert; his advice and knowledge of the online gaming market with be of significant benefit to the Group". Ted Loh Commented: "Got2Bet will benefit strongly from the extensive resources that Gaming Corporation has at its disposal." "I am excited at the prospect of working closely with Gaming Corp to take Got2Bet to new heights which simply would not have been possible without their support." Further to our stated strategy of acquiring profitable online gaming operations the Company will be seeking shareholder approval for authority to issue and allot further new Ordinary Shares. Notice of an Extraordinary General Meeting of the Company at which the appropriate resolutions will be proposed is therefore being posted to shareholders today. For further information please contact: Justin Drummond, Chief Executive, 020 7618 9000 Damion Greef, Communications Director, 07736 381 030 Trevor Phillips, Holborn PR, 020 7929 5599 Mark Ashurst. Canaccord Capital, 020 7518 2777
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