Interactive Gaming Share Discussion Threads

[woofy4] 03/6/2007 13:29

Taken from the Sunday Times

Interactive Gaming Holdings asked for trading in its shares to be suspended because of a delay in publishing its accounts but refused to comment on speculation that John Heaton, its chief executive, had left the company.

Could explain some of the 'logistical' problems re signing off the accounts .....

[woofy4] 03/6/2007 13:19

oh dear ... oh dear
Takne from Sunday Express

Boss leaves as Interactive shares suspended
By
Geoff Ho
INTERACTIVE Gaming Holdings, owner of Heathorns, the world's oldest bookmaker, has suffered a double blow - its chief executive John Heaton has left and its shares have been suspended.

A source close to the company confirmed Heaton has departed, but declined to reveal why. The shares, which trade on the Alternative Investment Market, were suspended on Friday because Interactive had failed to produce its annual results on time. According to a statement from the firm, its results have been delayed due to "unforeseen logistical issues".

Heathorns was established in 1890 by Alfred Heathorn and on his death it was acquired by rival bookmaker Hunter Simmonds. The Simmonds family retained control of Heathorns until 2005 when it was acquired by Interactive for approximately £700,000.

The company serves high net worth gamblers and has 6,600 international clients.

Aside from Heathorns, Interactive owns the fixed odds bookmaker PremierBet.

Last month Interactive, which is worth £3.5million, arranged a £600,000 credit facility with venture capital outfit General Capital Venture Finance.

In exchange for the cash, Interactive issued General Capital with warrants for 12million shares.

[overvaluedtrash] 03/6/2007 11:12

I won about 5k off Premierbet and they closed my account.

My mate also won about 8k.


I don't expect a relisting.

Administration probably.

[woofy4] 02/6/2007 13:11

Think the guru may have hit it on the head .... could be a large end-of-season football accumulator .... Man U Premiership .... Chelsea FA Cup ... Sunderland Championship ... Milan Champions league type thing ..... hence the need for the 600k when all was finished ... likelyhood the accountants wouldnt sign off until IGH could prove it was 'still an on-going concern' .... not sure about comparison with HCL as thought that was reverse takeover ... though if share price reacts in same manner who cares !!!!

[quinan] 02/6/2007 09:01

Morning all well I didn't manage to get hold of anyone yesterday nor did anyone reply to my e-mails but then I didn't expect them to. I am confident that IGH will re-list after they have sorted out this hiccup ( total balls up) as said before I don't think GCVF would have splashed out £600k on a dead duck they must have see some evidence that things are going well, so lets hope they can sort the results out ASAP.

Mind you I did receive a letter from the inland revenue this morning stating my year end accounts are due the 30th of June, and I have not even started them yet, so maybe that's what happened with IGH someone forgot to do the accounts????????????????????????????

[theshareguru] 02/6/2007 08:51

what ever the outcome, if igh are in trouble, they will be taken out by a big
boy, to me it smells of a large win by someone, and they have a cash flow problem, hence the 600k !
I was tempted to buy on results but when I saw the 600k borrowing I didn't,
I will watch with interest when they are relisted this could be a hcl situation
and look what happenned to them in the last two weeks, came back at 10p went
to 8p and then up to 25p plus, only to fall back to 20ish

[woofy4] 01/6/2007 17:51

Still no overly worried .... you dont grant a 50% unsecured facility unless prospects are reasonably good .... FD is a naughhty boy though ... does not take 6 months to produce a set of Statutory accounts !

[senator] 01/6/2007 17:40

funny how we were all anticipating the results with optimism and now the mood has turned.

It does not matter any longer how long this takes, the results are as they are. What is more important is what the company say about the future.

Sigh...at least football is on tonight.

[woofy4] 01/6/2007 12:46

take it now one has heard anything yet

[woofy4] 01/6/2007 08:34

FWIW ... FYI

Just spoken to Paul (someone) at Arbuthnots and he is not allowed to say anything other than the RNS announcement this morning .... feel free to ring the company was his advice !

[jailbird] 01/6/2007 08:10

yep,

i have also emailed the company.

[woofy4] 01/6/2007 08:06

At least we are getting a few posts on here JB .... for the wrong reasons admittadly .... not hugely worried at moment bit it is a good talking point !

[jailbird] 01/6/2007 08:01

i think we should calm down a bit..we are jumping the gun a bit..let us see what transpires.

[rbonnier] 01/6/2007 08:00

Looks like the draw down facility has saved shareholders bacon for now.Will probably collapse when it relists however.

[quinan] 01/6/2007 07:54

Morning Woof its all very disappointing as you say I will probably get the run around but will keep trying.

[sir josephs mate] 01/6/2007 07:50

I hear they are going to change company name to UNinteractive Gaming Holdings


the Epic code is UGH!!!!!!!!!

[saravanan] 01/6/2007 07:47

31st November 2006 ???????????
Perhaps one should advise the Board that there are only 30 days in November.
No wonder their accounting is in shambles.

[woofy4] 01/6/2007 07:41

Good luck with the phone call Quin but I will be very surprised if you dont get automated response ..... will try Arbuthnots but they dont open till 8 ... got the night call porter 1/2 hour ago

[jailbird] 01/6/2007 07:30

that is the only thing going for them...the GVCF financing...it
is a good deal!

But if you read the interims..it sounds very upbeat!

Highlights:

- turnover increased to #8.85 million (H1 2005: #1.66 million) with an EBITDA
loss of #0.77 million

- John Heaton, former Chief Executive of the Tote, appointed as Chief
Executive Officer

- new Orbis back end software platform implementation complete

- redesigned websites launched for PremierBet and Heathorns

- PremierBet Casino launched

- over #5 million of bets taken over the World Cup with new registrations
increasing threefold, returning an 8% gross profit margin

* strong current trading, Group expected to be profitable at the EBITDA level
in Q3 2006

* Arbuthnot Securities appointed nominated adviser and broker to the Company
with immediate effect



Commenting on the results, John Heaton, Chief Executive Officer, said: "The
first half of our financial year was a period of significant change at IGH with
the creation of an infrastructure to enable us to drive future growth, the
implementation of the new Orbis software platform and the development and launch
of our Casino. The costs of these investments were in line with expectations
and place the Group in an extremely strong position going forward, with the
benefits already being felt. We have two strong brands in PremierBet and
Heathorns and we are ideally placed to drive profitable growth."