1. Der Mai Umsatz ist >22 Mio AUS$ (geplant waren 5 Mio.) 2. Juli Umsatz soll schon 30-35 Mio.$ betragen !! 3. Wettgeschäft kommt im Juni. 4. Ich bin reich Leute....:-)
DOCUMENT NUMBER: 179788
Gaming Turnover For May 2000 Exceeds A$22m
PART: A § DATE: 2000/5/31 § MY CASINO LIMITED 2000-05-31 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ We attach a copy of a media release which will be released at the Company's annual general meeting being held later today.
The release highlights that gaming turnover for the month of May 2000 will exceed A$22 million, significantly exceeding the company's earlier forecast.
The Company expects the Sportsbook operation will be released in June 2000 and new value adding games including mah-jong, pachinko, pai gow and Caribbean Stud will be available on the Vanuatu-based internet casino site in about three months.
Peter Baird COMPANY SECRETARY
MEDIA RELEASE
The AUD$22 million in betting monies handled by My Casino Limited this month (May) was far ahead of its own projections and made the company the clear world leader in internet gaming, directors said at its annual general meeting today (31/5).
The Managing Director of My Casino Ltd, Mr Gordon McIntosh, said: "We are not aware of any online competitor who has matched our turnover performance. Being a public company, My Casino's figures are fully auditable and verifiable, unlike many of our private competitors.
"Volume of play is far higher than we expected, which proves that our South-East Asian marketing efforts have been enormously successful. All significant activity contributing to current turnover is coming out of Asia, which is being complemented by marketing campaigns in Indonesia, Thailand, Malaysia, Hong Kong and China. Our marketing campaign in northern Europe is expected to commence in the second half.
"By July, it is projected that the marketing campaigns will lift monthly turnover up to about AUD$30 million to AUD$35 million. The company expects to hold around five per cent of turnover as revenue.
"My Casino was the only Australian listing on Black Monday (April 17, 2000) to close 275 per cent higher on its debut and has handled gaming monies of AUD$22 million in May, far exceeding its pre-listing predictions. My Casino, as against many other "dot com" companies, is fully operational and generating substantial cashflow.
"My Casino's internet gaming operations are licensed and based in Vanuatu and these are not subject to Australian legislation or any Australian moratorium on internet gaming licences. My Casino has no intention of promoting its gaming activities to an Australian audience or any other jurisdictions where online gaming is prohibited.
"New value-adding games including mah-jong, pachinko, pai gow and Caribbean Stud will be available on our Vanuatu-based internet gaming site in about three months. Our online sportsbook operation is on track for installation around the end of June with its launch on the market expected to take place in July.
"Our wholly-owned financial processing company, Internet Transaction Processing Limited (ITPL), is in negotiations with several companies considering its internet financial processing services and we expect to be able to make an announcement on the progress of these negotiations in the next few months. ITPL is a potentially extremely valuable asset to My Casino Limited," Mr McIntosh said.
Mr McIntosh said My Casino was in a robust position, being cashed up from its AUD$7.6 million capital raising in April, and given its core advantages of:
* Licences granted for 10 years with 10 year renewal (including Sportsbook)
* Highly competitive 4 per cent gaming tax rate
* Secure financial transactions handled by Barclays Bank in the UK
* Fully audited to industry best practice
* Low operating costs ensuring high operating profitability for the company
* Return to players reflecting the high standard by Australian land-based casinos
* Operating in a highly regulated and audited environment.
FURTHER INFORMATION:
Gordon McIntosh MANAGING DIRECTOR +61 8 9481 1525
Allan Veal Publicit +61 8 9470 6604
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