World Gaming floats at the London AIM

May 20, 2005

This week saw the listing on the London AIM stock market of World Gaming plc, which went public under the symbol WGP. The company has raised a total of GBP 2,499,000 at 52.5 pence (US$1.00) per share.

Prior to October 2004, WG's gaming software was owned and developed solely by the group through its wholly-owned subsidiaries. A joint venture agreement with Sportingbet Plc was entered into in October 2004, through which the software was transferred to an equally owned exempt liability partnership with Sportingbet.

World Gaming currently licenses the gaming software to eleven operators, and is now actively seeking additional quality licensees and white-label partners.

Results for the year were the subject of a recent InfoPowa bulletin. After a reorganization of the group's operations in the year, turnover of $16.288 million (2003: $17.698m) was achieved, resulting in an operating profit of $5.080 million (2003: $2.330m). After exceptional items of $12.187m in respect of a transaction with Sportingbet in the year, profit before tax grew to $17.370 million (2003: $3.108m).

Commenting on the listing, Daniel Moran, Chief Executive Officer said: "We are delighted to have listed on AIM today. Given the current strength of the online gambling market, we believe that our UK listing will offer a great opportunity to continue the development of the Company. We are delighted to welcome our UK institutional shareholders and look forward to driving the Company forward and providing exceptional value for shareholders."

World Gaming is also traded on the Over The Counter Bulletin Board market in the U.S. under symbol WGMGY.

<< casino.za.com