Gaming News

Continent 8 Shelves Float Plan

CANADA – As reported by the Australian: "The US crackdown on gambling has claimed another victim as Continent 8 Technologies opted to pull its planned float amid continued turbulence in the market.

"The company, which provides internet infrastructure to online gaming sites, is postponing an initial public offering on concerns it would not achieve the expected price from investors.

"Although it is not known to be a factor in delaying Continent 8's float, the company may also be scrutinized by potential investors as to the legality of its operations in Canada, which - given an apparent waning in appetite for risky gaming stocks - is likely to be a stumbling block.

"Most of Continent 8's operations are handled in the Mohawk reservation of Kahnawake in Canada.

"…Continent 8 and its broker said this week: 'Collins Stewart and Continent 8 have concluded that, in view of the market's reaction to the issues facing BetonSports, it is in the company's interest to postpone its admission to the Alternative Investment Market until the autumn, by which time Continent 8 will have further demonstrated its strengths and progress via interim results.'…"

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