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My Casino shares soar as relists on ASX


SYDNEY, April 17 (Reuters) - Internet gaming firm My Casino Ltd, formerly minerals miner Abador Gold N.L, bucked the sliding market as it
relisted on the Australian Stock Exchange on Monday.

My Casino shares were trading up 55 cents, or 275 percent, at 75 cents by 11:15 a.m. (2115 GMT), after reaching a high of 90 cents, with
around 6.42 million shares changing hands.

The underlying market took a nosedive in early trade following Wall Street`s dramatic Friday sell-off, with the new benchmark S&P/ASX 200 index
falling 5.26 percent to 2,948.1.

Trading in My Casino was suspended at 20 cents in December 1999 pending the release of a prospectus to raise A$7.6 million through the issue
of around 38 million shares priced at 20 cents each.

The assets of the Perth-based firm include an internet casino previously known as Casinos Australasia and an internet sportsbook, both of which
will be operated by Vanuatu-based Netcom Ltd.

The online casino, which offers games including baccarat, blackjack, roulette and sic bo, plans to focus primarily on Asian markets before
switching its attention to Europe.

"We will make My Casino more user-friendly in these areas and link-up with popular search engines, while at the same time generating local
interest and add language capability," Gordon McIntosh, the company`s managing director said in a statement.

The two online gambling sites have gaming licences for 10 years with a further 10 year option.

Assets also include an internet banking facility Internet Transaction Processing Ltd based in the Channel Islands.

((Sophie Hares, Sydney Newsroom, 61-2 9373 1813, sydney.newsroom@reuters.com))
 
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