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Investors Place their Bets on Net Gaming4 July 2000AUSTRALIA – July 4, 2000 – As reported by theage.com: "Online casino eBet is flush with funds following a $4.48 million share placement to institutional and professional investors, providing the dot-com with capital to expand its gaming products and boost marketing efforts. "The placement was completed by Southern Cross Equities and CIBC World Markets late on Monday night at an issue price of 38 cents a share - an 11.6 per cent discount to yesterday's closing price of 43 cents. The company said 14 million ordinary shares were issued as part of the placement. "eBet managing director Keith Cullen said the company had cash reserves of $6 million as at June 30 - on a pro forma basis - which ideally positioned it to introduce new products and leverage off the group's growing client base. "…Its Gaming Systems division develops and markets networked gaming-machine management solutions, and is also busy creating player loyalty and magnetic-stripe cashless gaming systems through eBet's Netcash division..." |