Got2Bet Portal Bought By Gaming Corporation

Published: Friday, April 08, 2005 Online-Casinos.com

GOT 2 BET PORTAL BOUGHT BY GAMING CORPORATION

Ted Loh ('Spearmaster") to remain on board for now

Surprise of the week was the announcement by London-based portal group Gaming Corporation that it had bought the popular Got 2 Bet portal from industry personality Ted Loh.

Got2Bet is one of the most recognised and innovative online gambling portals and was founded by Loh in March 2000. The site is a key source of online casino information in English and Chinese, with extensive online casino reviews and ratings, news and message boards.

Gaming Corporation owns and operates the leading British portal Casino.co.uk and agreed to a consideration of US$270,000 for the acquisition, to 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 percent 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 a regular feature, and Got2Bet was also the first gaming portal to feature a free Flash-based casino.

Founder Ted Loh is respected 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.

Gambling Corporation CEO 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."

Coinciding with the Got2Bet deal, Gaming Corporation also announced changes to its board of directors.

New appointment William Grimes was formerly a senior executive of London Clubs International plc ("London Clubs"), having joined in 1978. London
Clubs is a publicly quoted company on the London Stock Exchange.

With over 35 years experience in the gaming industry, Grimes was a Director of London Clubs and Head of International Development for London Clubs (Overseas) Limited. He was responsible for identifying gaming opportunities outside the UK, establishing joint-venture partnerships in over 20 countries and applying successfully for gaming licenses in the UK and abroad. He was a Director of London Clubs' Mayfair casino (The Casanova) and he managed the opening of several casinos both in the UK and abroad.

David Rogers and Charles Black are stepping down as Directors. Rogers has served the Company as a non-executive Director since the initial
flotation and is retiring as a Director. Black has served the Company as a Director for 5 years and has decided to step down to pursue his other business interests.