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Emily D. Swoboda
 

Nambling Notes - Nov. 26, 1999

26 November 1999

The 'Kyl' Effect -- "Prohibition '99" has surged into congressional acceptance, and it's time to commence the spewing of analysis as the dust settles. While western online gambling execs reach for the aspirin, the passing of the Kyl bill and the progression of the Goodlatte bill have garnered mixed reactions in Europe and Australia. Mark Blanford, managing director of Alderney-based Sportingbet.com, is tickled by the possibility of fattening his American customer base. "If any bill were to be passed, I believe sportingbet.com would be in an advantageous position," Blanford said. "Any law passed in the USA would be unenforceable on sportingbet.com as we are British owned, based, managed and regulated by British law. In addition, Sportingbet.com has a First World license and therefore we can provide customers with the security of betting with a regulated, experienced operator. We would anticipate that we would be a natural home for customers from the USA. ... As a company we believe that this may provide us with opportunities to obtain databases from American off-shore operators, who will undoubtedly feel the heat if this legislation completes its passage through the Senate."

Meanwhile, the reaction of Australian-based Lasseters Casino was uncharacteristically tentative, but firm in its stance that it operates legally. Chief Executive Peter Bridge, who was comically added to the U.S. government's 'uninvited' list upon the launching of Lasseters Online, indicated that the company will approach accepting bets from U.S. players carefully. "If the Kyl bill and the Goodlatte bill result in a final bill passed by the President, then we will seek legal advice on the implications for Lasseters Online," Bridge said. "However, we operate within a legal environment within Australia and it is therefore up to our players to comply with the laws within their own countries concerning online gaming.

New Stuff -- Gambling software provider Boss Media has officially released its brand-spankin' new 2.0 version casino software. The new enhanced games are available for download at www.goldclubcasino and will soon be available at all Boss Media online casinos.

Wheelin' & Dealin' -- Amid the usual turmoil, Starnet Communications International continued its aggressive expansion into the racing biz last week with the announcement of a simulcast agreement between its World Gaming Services Inc. subsidiary and Louisiana's Delta Downs. Through the agreement, Starnet will offer inter-raceway and live Internet horse racing broadcasts. Starnet CEO Melton Ellis says more simulcast agreements are on the way.

Speaking of aggressive expansion, Vancouver-based Poker.com turned its advertising blitz up a notch last week by signing a key-word marketing contract with Excite@Home spanning the entire calendar year 2000. The $345,000 deal delivers Poker.com premium ad placement for 10 gambling related keywords (including 'poker', 'blackjack', and 'bingo')on the www.excite.com portal search engine.

E-commerce provider eConnect (ECNC) announced Tuesday that it has signed a letter of Intent to acquire 50 percent of the Dominican Republic business of Top Sports SA, which currently owns and operates 12 Dominican land-based licensed sports books that generate $1.7 million in yearly revenue. The partnership plans to add an additional 48 Dominican Republic locations over the next 14 months using new laws passed in the last month by the Dominican Republic government to streamline the industry. The partnership will also focus on expanding the Top Sports SA business to include Irish and Dominican Republic homes sending Internet cash payments to a Top Sports Internet Sports website. eConnect says a major (unnamed) Irish land-based sports betting firm, through an alliance with Top Sports SA, has agreed in principle to implement Irish-based Internet cash payments.

dot com Entertainment Group, Inc., a fully-reporting Internet technology company, announced Tuesday that its wholly owned subsidiary, dot com Antigua Inc., has signed a deal with an unnamed private group, owner of a license to use dot com's CyberBingoTM software system, to promote and develop a French language gaming portal. dot com considers the deal a key step in the "execution of its proprietary 'sub-license' business model." dot com "sub-licensees" are marketing and promotions experts focused on generating game traffic to the company's licensee in St. John's, Antigua. The sub-license concept is designed to create the world's largest online Bingo hall at www.cyberbingo.net. Sub-licensees receive a royalty fee for introducing entirely new player-bases into the CyberBingoTM software system.

Investors' Corner -- Total Entertainment Inc. (TTLN), a global entertainment and information provider announced November 22 that its net gaming revenue for the period December 31, 1998 was $169,993. The company had a net loss of $605,486 or .01 cent per share. The 1998 loss included approximately $273,000 of research and development costs, for the purchasing, testing and evaluation of software, hardware and other technologies for our web-sites, and $145,000 of costs related to the merger transaction in February 1998. For the six months ended June 30, 1999, Net gaming revenue was $303,695, $500,000 relating from the sale of a 50 percent interest in the profits and losses of the Slotsvegas.com website, which was recorded as deferred revenue. TTLN Chairman and CEO Sandy Masselli said the company intends to file its SEC Form 10-SB, updated through September 30, 1999 and become a fully reporting company.

Boss Media has released an interim financial report for January 1 to September 30, 1999. The report shows Boss Media's net sales have increased for the period 69 percent to $8.02 million, compared to $4.8 million last year. Profit after financial items was up $2 million, compared to last year's loss of $900,000, for a profit margin this period of 25.7 percent. The company reports that four of the five licenses sold during the period have actually been delivered, with an additional three licenses having been sold since period's end.

Nambling Notes - Nov. 26, 1999 is republished from iGamingNews.com.
Emily D. Swoboda
Emily D. Swoboda