Fairgroung Gaming Making Progress
Published: Friday, April 07, 2006 Online-Casinos.com
FAIRGROUND GAMING MAKING PROGRESS
Solid cash reserves in company rumoured to be associated with Microgaming
Fairground Gaming, the newly-established investment company in the online gaming sector rumoured to have a business association with top provider Microgaming, announced its maiden set of results since admission to AIM on 4 October 2005, for the period ended 31 December 2005.
Highlights include:
Successful admission to AIM on 4 October 2005, raising gross proceeds of GBP 3.8 million from the placing
Year end cash balance of $13.9 million
Discussions at advanced stage with a number of acquisition opportunities
CEO Evan Hoff said, “It has been an exciting period for Fairground Gaming. Our admission to AIM and our successful fund raising has left us strongly placed to execute our stated strategy for growth.
“Developments in the market all indicate the strong potential of building a portfolio of online gaming businesses. I am very hopeful that we will soon be able to report the successful conclusion to negotiations we are conducting with a number of owners of online gaming sites which fit our criteria for synergistic, cash-generative growth.”
