Latest Results From World Gaming

Published: Friday, August 05, 2005 Online-Casinos.com

LATEST RESULTS FROM WORLD GAMING

Wagering volumes up

Highlights from the latest quarterly and half yearly reports for the period ending June 30 2005 include:

* Quarterly royalty revenue increased by 55.5 percent to $1 530 000;

* Six monthly royalty revenue grew by 54.7 percent to $3 530 000;

* Wagering volume up by a billion dollars at $3.6 billion over the same period last year;

* Net working capital up 34.0 percent to $19.9 million;

* Two new licensees signed in the second quarter and poker software successfully launched;

* One of the new licensees will shortly launch Gambling.net - a WG dedicated portal.

* A successful AIM debut raising GBP 2,499,000 from a placing of 4,760,000 ordinary shares;

* Operating expenses decreased 55.0 percent to $2,326,000 compared to $5,173,000 for the same period last year.

The report emphasises that World Gaming is in the industry for the long run, developing its revenues, commercial relationships and products to the benefit of licensees and shareholders.

Daniel Moran, World Gaming's CEO commented: "The second quarter is seasonally the industry's least busy period in the year and the company has utilised this time well to pursue new licensing opportunities and implement robust software and hardware upgrades. We are delighted with the results of these efforts which have resulted in new licensees and greater system speed and capacity. We look to the third quarter with confidence and a resolve to continue to deliver on our strategies."