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Wednesday February 14, 10:59 am Eastern Time
Press Release
Starnet Reinstates Planned Shareholder Updates
CEO Updates on Corporate Initiatives in Letter to Shareholders
ST. JOHNS, Antigua--(BUSINESS WIRE)--Feb. 14, 2001--Starnet Communications International Inc. (OTC-BB: ``SNMM``)(``Starnet``), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, announced today that it has commenced its planned CEO Teleconference Call program. This action follows the shareholder approval of the Proxy/Prospectus proposal on Starnet`s plan to reorganize the Company into a new holding company domiciled in the United Kingdom.
The Company decided in October 2000 not to institute the planned program in light of the inherent restrictions the Company faced following the filing of Starnet`s Form F-4. The commencement of the conference calls was announced in a letter to shareholders from interim President and Chief Executive Officer Fred Hazell that highlights Starnet`s commitment to proactive, regular communication with shareholders, and provides an update on the status of various corporate initiatives. The text of that letter is included below.
Dear Shareholders:
Now that you have approved the Proxy/Prospectus proposal on our plans to reorganize Starnet into a new holding company domiciled in the United Kingdom, I wanted to take the time to thank you for demonstrating overwhelming support for the direction that we have recommended for the Company.
I am pleased to inform you that management is confident that we will be able to have our shares traded as American Depositary Receipts (ADRs) on a U.S. trading facility. Efforts are also underway to have WorldGaming plc accepted for trading on trading facilities in Europe. We believe that as we relaunch the Company, this key step of obtaining a listing in Europe will enable the Company to achieve additional exposure to capital markets and result in a fair valuation of its asset base as reflected in our excellent future growth potential. We expect to proceed with our plans to reorganize into World Gaming Plc domiciled in the U.K. within the next 30 to 60 days.
Unfortunately, our communication with you over the past three months has been less than we would have preferred, primarily due to securities laws considerations while our proxy/prospectus material was under consideration. Now that this is behind us, we are pleased to institute regular updates with you, our shareholders.
Much has happened over the past three months, and I want to take this opportunity to update you on these events.
CEO Search - After narrowing our search for a CEO to three highly qualified candidates, the Board of Directors will make our final selection this week. We expect that the new CEO will be in place in March 2001, and will lead the Company forward, building credibility with the capital markets and enhancing shareholder value. There will be a separate release providing you with the background of the successful candidate.
Improved Operations - As part of our increased focus on improving the quality of our service to our licensees, we have hired Mr. Liam Gillen as Starnet`s Executive Director of Business Operations. Mr. Gillen will spearhead the Company`s efforts in this area, building on his 20 years of operational gaming experience in Europe and the Caribbean.
Additionally, we have restructured the company to focus our efforts on becoming more sales, marketing, and client focused, while continuing to identify and deliver the products and services that our licensees need. Our Business Units will be focused on working closely with our licensees to identify their needs and to deliver the products and services that they require.
Increased Revenues - We are committed to bringing new revenues into the Company over the next two fiscal quarters. To achieve this goal, we are actively recruiting new licensees to expand our licensee base. We plan to devote significant resources to increasing our revenue base as well as ensuring that our income reflects the level of services that we provide by identifying and properly allocating our transaction costs. Additionally, we are working to establish a business presence in Europe that will enable us to expand this licensing momentum into new markets going forward.
Cost reduction - On January 4, 2001, we took steps to reduce the cost base of Inphinity Interactive Inc., our software development subsidiary. We believe that reducing our managerial, administrative, and support staff there, and outsourcing certain functions to consultants as needed under short-term contracts, is in the long term best interests of the Company. We will continue to evaluate our operations, and will further reduce the Company`s cost base in all areas, including vendor, service, and legal contracts, going forward. Where possible, we will continue to outsource resources on an ``as required basis``. Overall, we are instilling more cost-consciousness and fiscal discipline to the Company.
Legal Update - As concerns the inquiry initiated by the Royal Canadian Mounted Police (``RCMP``) of the Company`s historical business practices in Canada up through August 1999, we expect that a further extension of time will be requested from the Court in order for the Crown to determine what further action will be taken in the matter. We do not intend to oppose the request, as we believe the inquiry is approaching a stage where we will be able to discuss the matter in a meaningful way. While we certainly do not know the ultimate outcome, this additional time may possibly allow for this inquiry, which raises issues never before addressed concerning online commerce, gaming and the limits of a country`s jurisdiction, to be resolved without costly and protracted litigation.
Financial Results - Looking ahead, our third quarter 2001 results will be released by March 15, 2001, and will reflect a profitable operational quarter. We believe that we will meet our stated projections, exclusive of the costs associated with downsizing our operations and other non-recurring charges. We are optimistic about the future growth prospects of the Company and confident that our innovative offering of products and services will continue to lead the market.
A conference call has been scheduled for 4:30 P.M. EST on Tuesday February 20, 2001 to discuss these matters and to answer any questions that you may have on the issues facing our Company. Further details about the call will be issued in a press release, and will also be available on the Starnet Web site, www.snmm.com, on the investor relations page. We hope you will join us.
Sincerely, Fred Hazell Interim President and Chief Executive Officer Starnet Communications Inc.
Press Release
Starnet Reinstates Planned Shareholder Updates
CEO Updates on Corporate Initiatives in Letter to Shareholders
ST. JOHNS, Antigua--(BUSINESS WIRE)--Feb. 14, 2001--Starnet Communications International Inc. (OTC-BB: ``SNMM``)(``Starnet``), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, announced today that it has commenced its planned CEO Teleconference Call program. This action follows the shareholder approval of the Proxy/Prospectus proposal on Starnet`s plan to reorganize the Company into a new holding company domiciled in the United Kingdom.
The Company decided in October 2000 not to institute the planned program in light of the inherent restrictions the Company faced following the filing of Starnet`s Form F-4. The commencement of the conference calls was announced in a letter to shareholders from interim President and Chief Executive Officer Fred Hazell that highlights Starnet`s commitment to proactive, regular communication with shareholders, and provides an update on the status of various corporate initiatives. The text of that letter is included below.
Dear Shareholders:
Now that you have approved the Proxy/Prospectus proposal on our plans to reorganize Starnet into a new holding company domiciled in the United Kingdom, I wanted to take the time to thank you for demonstrating overwhelming support for the direction that we have recommended for the Company.
I am pleased to inform you that management is confident that we will be able to have our shares traded as American Depositary Receipts (ADRs) on a U.S. trading facility. Efforts are also underway to have WorldGaming plc accepted for trading on trading facilities in Europe. We believe that as we relaunch the Company, this key step of obtaining a listing in Europe will enable the Company to achieve additional exposure to capital markets and result in a fair valuation of its asset base as reflected in our excellent future growth potential. We expect to proceed with our plans to reorganize into World Gaming Plc domiciled in the U.K. within the next 30 to 60 days.
Unfortunately, our communication with you over the past three months has been less than we would have preferred, primarily due to securities laws considerations while our proxy/prospectus material was under consideration. Now that this is behind us, we are pleased to institute regular updates with you, our shareholders.
Much has happened over the past three months, and I want to take this opportunity to update you on these events.
CEO Search - After narrowing our search for a CEO to three highly qualified candidates, the Board of Directors will make our final selection this week. We expect that the new CEO will be in place in March 2001, and will lead the Company forward, building credibility with the capital markets and enhancing shareholder value. There will be a separate release providing you with the background of the successful candidate.
Improved Operations - As part of our increased focus on improving the quality of our service to our licensees, we have hired Mr. Liam Gillen as Starnet`s Executive Director of Business Operations. Mr. Gillen will spearhead the Company`s efforts in this area, building on his 20 years of operational gaming experience in Europe and the Caribbean.
Additionally, we have restructured the company to focus our efforts on becoming more sales, marketing, and client focused, while continuing to identify and deliver the products and services that our licensees need. Our Business Units will be focused on working closely with our licensees to identify their needs and to deliver the products and services that they require.
Increased Revenues - We are committed to bringing new revenues into the Company over the next two fiscal quarters. To achieve this goal, we are actively recruiting new licensees to expand our licensee base. We plan to devote significant resources to increasing our revenue base as well as ensuring that our income reflects the level of services that we provide by identifying and properly allocating our transaction costs. Additionally, we are working to establish a business presence in Europe that will enable us to expand this licensing momentum into new markets going forward.
Cost reduction - On January 4, 2001, we took steps to reduce the cost base of Inphinity Interactive Inc., our software development subsidiary. We believe that reducing our managerial, administrative, and support staff there, and outsourcing certain functions to consultants as needed under short-term contracts, is in the long term best interests of the Company. We will continue to evaluate our operations, and will further reduce the Company`s cost base in all areas, including vendor, service, and legal contracts, going forward. Where possible, we will continue to outsource resources on an ``as required basis``. Overall, we are instilling more cost-consciousness and fiscal discipline to the Company.
Legal Update - As concerns the inquiry initiated by the Royal Canadian Mounted Police (``RCMP``) of the Company`s historical business practices in Canada up through August 1999, we expect that a further extension of time will be requested from the Court in order for the Crown to determine what further action will be taken in the matter. We do not intend to oppose the request, as we believe the inquiry is approaching a stage where we will be able to discuss the matter in a meaningful way. While we certainly do not know the ultimate outcome, this additional time may possibly allow for this inquiry, which raises issues never before addressed concerning online commerce, gaming and the limits of a country`s jurisdiction, to be resolved without costly and protracted litigation.
Financial Results - Looking ahead, our third quarter 2001 results will be released by March 15, 2001, and will reflect a profitable operational quarter. We believe that we will meet our stated projections, exclusive of the costs associated with downsizing our operations and other non-recurring charges. We are optimistic about the future growth prospects of the Company and confident that our innovative offering of products and services will continue to lead the market.
A conference call has been scheduled for 4:30 P.M. EST on Tuesday February 20, 2001 to discuss these matters and to answer any questions that you may have on the issues facing our Company. Further details about the call will be issued in a press release, and will also be available on the Starnet Web site, www.snmm.com, on the investor relations page. We hope you will join us.
Sincerely, Fred Hazell Interim President and Chief Executive Officer Starnet Communications Inc.
Die News kamen im richtigen Augenblick,
Der Kurs dreht nach oben !
Der Kurs dreht nach oben !
Das kommt alles
Wednesday February 14, 12:02 pm Eastern Time
Press Release
Investrend Research Announces Investment Opinion on Starnet Communications
Starnet Quarterly Update Report Issued by Investrend Research
NEW YORK--(BUSINESS WIRE)--Feb. 14, 2001-- Investrend Research analyst John M. Dutton issues his Quarterly Update Report on Starnet Communications (OTCBB: SNMM - news) as part of the firm`s I-Gaming industry coverage. The new report carries a recommendation - Speculative Buy; Only For Aggressive Accounts. The Starnet Quarterly Update Report is available at the Investrend Research site www.investrend.com and other leading investment portals.
Mr. Dutton`s report notes:
``Starnet continues its efforts to resolve its many external and internal issues. It is conducting a CEO search. The new CEO will need to solve and/or isolate the Company`s problems, and insure that the Company`s legacy assets are managed to maintain participation in the high growth I-Gaming industry. This report evaluates the Company`s current position, and looks at the potential growth to come from these legacy assets. It then looks at industry valuations and what comparable valuation Starnet could be accorded within this industry if these current issues are settled.
The Company has an excellent core of large licensees. On the macro side, the I-Gaming industry is experiencing high double digit annual growth. The stocks of the European I-Gaming companies are considered mainstream investments in Europe. The crux is execution of a persuasive strategy that is developed by the Starnet Board and management that addresses these internal and external issues. The current CEO is taking necessary initial steps. Industry stock price performance can be seen by the RivTrend Global I-Gaming Stock Index.
A significant future factor in any I-Gaming company`s success will be, we believe, their licensees tie to land based gaming. There is the distinct advantage of brands and customer bases. Selling success will depend on offering stable platforms with good games. This suggests that for future licensee sales there is urgency to complete its Beyond 2000 and to demonstrate its stability and versatility as an I-Gaming platform. This will be required to sell the established land based gaming companies.
We view the shares of Starnet as suitable only for aggressive accounts willing to assume the high degree of risk associated with management`s ability to solve Starnet`s problems. For these accounts, the return could be significant. Present shareholders have the value of the Company`s legacy assets whose value, with the final completion of Beyond 2000, should exceed the Company`s current market cap. The challenge is how all can best be used to benefit shareholders.``
Mr. Dutton is the Investrend President, and Director of Research. He is a member of both the Boston and Los Angeles Security Analyst Societies, and has been an analyst and director of research at several firms including Moseley, Hallgarten, Estabrook & Weedon and LH Friend, Weinress, Frankson & Presson. He was president of Corsair Asset Management, an asset management firm, for over 14 years. For seven years, he was executive vice president and director of the international hospital company American Medical International. Mr. Dutton`s past work includes development and execution of strategic and financial planning for small cap companies.
Public Analysis & Review (PAR) is a program of Investrend Research. Anyone, including a company, may enroll a company for annual continuing coverage. PAR reports are performed on behalf of the public, and are not a service to any company. PAR analysts are responsible only to the public. PAR analysts are paid in advance to eliminate pecuniary interests and insure independence. PAR enrollment fees are $19,700 per annum.
Press Release
Investrend Research Announces Investment Opinion on Starnet Communications
Starnet Quarterly Update Report Issued by Investrend Research
NEW YORK--(BUSINESS WIRE)--Feb. 14, 2001-- Investrend Research analyst John M. Dutton issues his Quarterly Update Report on Starnet Communications (OTCBB: SNMM - news) as part of the firm`s I-Gaming industry coverage. The new report carries a recommendation - Speculative Buy; Only For Aggressive Accounts. The Starnet Quarterly Update Report is available at the Investrend Research site www.investrend.com and other leading investment portals.
Mr. Dutton`s report notes:
``Starnet continues its efforts to resolve its many external and internal issues. It is conducting a CEO search. The new CEO will need to solve and/or isolate the Company`s problems, and insure that the Company`s legacy assets are managed to maintain participation in the high growth I-Gaming industry. This report evaluates the Company`s current position, and looks at the potential growth to come from these legacy assets. It then looks at industry valuations and what comparable valuation Starnet could be accorded within this industry if these current issues are settled.
The Company has an excellent core of large licensees. On the macro side, the I-Gaming industry is experiencing high double digit annual growth. The stocks of the European I-Gaming companies are considered mainstream investments in Europe. The crux is execution of a persuasive strategy that is developed by the Starnet Board and management that addresses these internal and external issues. The current CEO is taking necessary initial steps. Industry stock price performance can be seen by the RivTrend Global I-Gaming Stock Index.
A significant future factor in any I-Gaming company`s success will be, we believe, their licensees tie to land based gaming. There is the distinct advantage of brands and customer bases. Selling success will depend on offering stable platforms with good games. This suggests that for future licensee sales there is urgency to complete its Beyond 2000 and to demonstrate its stability and versatility as an I-Gaming platform. This will be required to sell the established land based gaming companies.
We view the shares of Starnet as suitable only for aggressive accounts willing to assume the high degree of risk associated with management`s ability to solve Starnet`s problems. For these accounts, the return could be significant. Present shareholders have the value of the Company`s legacy assets whose value, with the final completion of Beyond 2000, should exceed the Company`s current market cap. The challenge is how all can best be used to benefit shareholders.``
Mr. Dutton is the Investrend President, and Director of Research. He is a member of both the Boston and Los Angeles Security Analyst Societies, and has been an analyst and director of research at several firms including Moseley, Hallgarten, Estabrook & Weedon and LH Friend, Weinress, Frankson & Presson. He was president of Corsair Asset Management, an asset management firm, for over 14 years. For seven years, he was executive vice president and director of the international hospital company American Medical International. Mr. Dutton`s past work includes development and execution of strategic and financial planning for small cap companies.
Public Analysis & Review (PAR) is a program of Investrend Research. Anyone, including a company, may enroll a company for annual continuing coverage. PAR reports are performed on behalf of the public, and are not a service to any company. PAR analysts are responsible only to the public. PAR analysts are paid in advance to eliminate pecuniary interests and insure independence. PAR enrollment fees are $19,700 per annum.
Florida Gaming Corporation Announces World-Wide Internet Distribution of Its Miami Jai-Alai Games
MIAMI, Feb 15, 2001 (BUSINESS WIRE) -- Florida Gaming Corporation (OTCBB: BETS),
announced today that the Company has entered into a simulcast agreement with
Starnet Communications International, Inc. (OTCBB: SNMM) for worldwide
distribution of its Miami Jai-Alai games through a Starnet subsidiary, World
Gaming Services, Inc. (www.worldgaming.net).
Starnet is a leading developer and producer of Internet technologies for gaming
applications. Starnet`s new software, Beyond 2000, which began a phased launch
in August, 2000, will offer a full menu of gaming products, including sports
betting, bingo, lotto, and pari-mutuel wagering on horse racing and jai-alai
games. Games are available in a number of different formats including Java, C++,
and HTML and marketing support software is also provided.
Florida Gaming`s Chairman and CEO stated: "We are very excited to be able to
offer the highest level of professional Jai-Alai games from Miami-Jai-Alai---the
world-wide brand name in Jai-Alai. Miami Jai-Alai has a 75 year history of
providing the most intense level of competition in the sport of Jai-Alai. We are
very pleased to team up with Starnet Communications to offer world-wide
distribution of these exciting games to our on-line audience."
Florida Gaming Corporation is the largest Jai-Alai operator in the world. The
Company owns and operates two pari-mutuel wagering facilities located at Miami
and Ft. Pierce, Florida. These two facilities contain an aggregate of 230,000
square feet of gaming space which accommodates over 6,000 gaming positions. The
Company also owns an inactive Jai-Alai pari-mutuel permit for Hillsborough
County (Tampa), Florida. The Company offers pari-mutuel wagering on live
Jai-Alai games at both facilities. Jai-Alai games are offered at the Ft. Pierce
facility on a seasonal schedule. Jai-Alai games are played live and simulcast
year round from the Miami facility via satellite to a total of sixty two (62)
pari-mutuel wagering locations in Florida, Connecticut and Rhode Island, and to
approximately twenty five (25) locations in Mexico, Central America, and
Austria. The Company also offers year-round pari-mutuel satellite wagering on
Jai-Alai, horse racing (thoroughbred and harness), and greyhound racing at both
locations. Poker and dominoes are played at the Miami Jai-Alai Crystal Card
Room.
CONTACT: Florida Gaming Corporation, New Albany, Ind.
W. Bennett Collett, 502/589-2000 or 770/466-6870
Web Sites: www.fla-gaming.com or www.worldgaming.net
MIAMI, Feb 15, 2001 (BUSINESS WIRE) -- Florida Gaming Corporation (OTCBB: BETS),
announced today that the Company has entered into a simulcast agreement with
Starnet Communications International, Inc. (OTCBB: SNMM) for worldwide
distribution of its Miami Jai-Alai games through a Starnet subsidiary, World
Gaming Services, Inc. (www.worldgaming.net).
Starnet is a leading developer and producer of Internet technologies for gaming
applications. Starnet`s new software, Beyond 2000, which began a phased launch
in August, 2000, will offer a full menu of gaming products, including sports
betting, bingo, lotto, and pari-mutuel wagering on horse racing and jai-alai
games. Games are available in a number of different formats including Java, C++,
and HTML and marketing support software is also provided.
Florida Gaming`s Chairman and CEO stated: "We are very excited to be able to
offer the highest level of professional Jai-Alai games from Miami-Jai-Alai---the
world-wide brand name in Jai-Alai. Miami Jai-Alai has a 75 year history of
providing the most intense level of competition in the sport of Jai-Alai. We are
very pleased to team up with Starnet Communications to offer world-wide
distribution of these exciting games to our on-line audience."
Florida Gaming Corporation is the largest Jai-Alai operator in the world. The
Company owns and operates two pari-mutuel wagering facilities located at Miami
and Ft. Pierce, Florida. These two facilities contain an aggregate of 230,000
square feet of gaming space which accommodates over 6,000 gaming positions. The
Company also owns an inactive Jai-Alai pari-mutuel permit for Hillsborough
County (Tampa), Florida. The Company offers pari-mutuel wagering on live
Jai-Alai games at both facilities. Jai-Alai games are offered at the Ft. Pierce
facility on a seasonal schedule. Jai-Alai games are played live and simulcast
year round from the Miami facility via satellite to a total of sixty two (62)
pari-mutuel wagering locations in Florida, Connecticut and Rhode Island, and to
approximately twenty five (25) locations in Mexico, Central America, and
Austria. The Company also offers year-round pari-mutuel satellite wagering on
Jai-Alai, horse racing (thoroughbred and harness), and greyhound racing at both
locations. Poker and dominoes are played at the Miami Jai-Alai Crystal Card
Room.
CONTACT: Florida Gaming Corporation, New Albany, Ind.
W. Bennett Collett, 502/589-2000 or 770/466-6870
Web Sites: www.fla-gaming.com or www.worldgaming.net
Trading Spotlight
STARNET COMMENCES CEO TELECONFERENCE PROGRAM
Starnet will hold the first call of its planned CEO Teleconference Call program on Tuesday, February 20, 2001 at 4:30 p.m. EST. Management will discuss corporate initiatives and answer any shareholder questions.
The commencement of the conference calls was announced on February 14, 2001 in a letter to shareholders from interim President and Chief Executive Officer Fred Hazell that highlights Starnet’s commitment to proactive, regular communication with shareholders.
The program, initially scheduled to begin in October 2000, was postponed primarily due to securities laws considerations while the proxy/prospectus proposal on the Starnet’s plan to reorganize the Company into a new holding company domiciled in the United Kingdom was under consideration.
The dial-in number(s) are as follows: North America Toll-free 1-877-888-4210 or locally in the Greater Toronto Area or abroad 1-416-695-5261. Please call in advance to register.
To listen to the live webcast please access the following link: Starnet Webcast. Listeners should go to the website at least fifteen minutes before this event to download, and install any necessary audio software. For those unable to attend the live broadcast, a replay will be available shortly after the event
http://www.snmm.com -> INVERSORS -> STARNET COMMENCES CEO TELECONFERENCE PROGRAM
Starnet will hold the first call of its planned CEO Teleconference Call program on Tuesday, February 20, 2001 at 4:30 p.m. EST. Management will discuss corporate initiatives and answer any shareholder questions.
The commencement of the conference calls was announced on February 14, 2001 in a letter to shareholders from interim President and Chief Executive Officer Fred Hazell that highlights Starnet’s commitment to proactive, regular communication with shareholders.
The program, initially scheduled to begin in October 2000, was postponed primarily due to securities laws considerations while the proxy/prospectus proposal on the Starnet’s plan to reorganize the Company into a new holding company domiciled in the United Kingdom was under consideration.
The dial-in number(s) are as follows: North America Toll-free 1-877-888-4210 or locally in the Greater Toronto Area or abroad 1-416-695-5261. Please call in advance to register.
To listen to the live webcast please access the following link: Starnet Webcast. Listeners should go to the website at least fifteen minutes before this event to download, and install any necessary audio software. For those unable to attend the live broadcast, a replay will be available shortly after the event
http://www.snmm.com -> INVERSORS -> STARNET COMMENCES CEO TELECONFERENCE PROGRAM
FRIDAY, MARCH 02, 2001 6:44 PM - BusinessWire
Starnet Selects New Chief Executive Officer; CEO To Take Office On March 19th
ST. JOHNS, Antigua, Mar 2, 2001 (BUSINESS:SNMM)("Starnet"), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, announced today that the Company has received a commitment from its newly selected chief executive officer.
"I am pleased to announce that the candidate selected by Starnet`s board of directors last week to become the Company`s new chief executive officer has accepted our offer, and has signed an agreement with us", stated Fred Hazell, the chairman of the board and interim president and chief executive officer of Starnet. "We have agreed to honor the new chief executive officer`s wish to remain anonymous until he has finalized a transition plan with the company he is departing."
Mr. Hazell continued, "However, I can tell you that this individual is a prominent businessman with an extensive background in the technology industry and a proven track record of success as a leader of a publicly traded (NASDAQ) growth-stage company. He will leverage his experience to take Starnet to its next level of corporate development as we reorganize the Company into a new holding company domiciled in the United Kingdom. He is scheduled to join the Company on March 19th, and we will issue a formal announcement on or before the date that he takes office."
Starnet will introduce the new chief executive officer to shareholders and other interested parties on its 3Q 2001 earnings conference call, scheduled for 4:30 p.m. EST on Tuesday March 20, 2001. The dial in numbers for the call are 1-877-888-4210 (domestic, within North America) and 416-695-5261 (international, local Vancouver). Participants should dial in at least five minutes prior to the broadcast. The call will also be Web cast from Starnet`s Web site, www.snmm.com at 4:30 EST under the "Investors" tab. A replay of the call will be available shortly after the completion of the event at www.snmm.com.
About Starnet
Starnet is a leading developer and producer of Internet technologies for gaming applications. The company`s new software, Beyond2000, which began a phased launch in August 2000, will offer a full suite of gaming products, including casinos, sports betting, bingo, lotto, and horse racing. Games are available in a number of different formats including Java, C++, and HTML and comprehensive marketing support software is also provided. For more information, please visit www.snmm.com or email sales@starnetsystems.net.
Starnet is an SEC reporting US (Delaware) corporation, which currently trades on the Over-The-Counter Bulletin Board. The company began trading in September of 1997 under the symbol "SNMM". Starnet is also listed on the Berlin and Frankfurt Stock Exchanges where it is traded on the Over-The-Counter market under the symbol "SNM".
CONTACT: Starnet Communications International Inc.
Rob Grace, Investor Relations Manager, 604/608-2255
North American Toll - 1-888-883-0833
ir@snmm.com
Or
Ogilvy Public Relations Worldwide
Amy Mumma, 212/884-4036
Starnet Selects New Chief Executive Officer; CEO To Take Office On March 19th
ST. JOHNS, Antigua, Mar 2, 2001 (BUSINESS:SNMM)("Starnet"), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, announced today that the Company has received a commitment from its newly selected chief executive officer.
"I am pleased to announce that the candidate selected by Starnet`s board of directors last week to become the Company`s new chief executive officer has accepted our offer, and has signed an agreement with us", stated Fred Hazell, the chairman of the board and interim president and chief executive officer of Starnet. "We have agreed to honor the new chief executive officer`s wish to remain anonymous until he has finalized a transition plan with the company he is departing."
Mr. Hazell continued, "However, I can tell you that this individual is a prominent businessman with an extensive background in the technology industry and a proven track record of success as a leader of a publicly traded (NASDAQ) growth-stage company. He will leverage his experience to take Starnet to its next level of corporate development as we reorganize the Company into a new holding company domiciled in the United Kingdom. He is scheduled to join the Company on March 19th, and we will issue a formal announcement on or before the date that he takes office."
Starnet will introduce the new chief executive officer to shareholders and other interested parties on its 3Q 2001 earnings conference call, scheduled for 4:30 p.m. EST on Tuesday March 20, 2001. The dial in numbers for the call are 1-877-888-4210 (domestic, within North America) and 416-695-5261 (international, local Vancouver). Participants should dial in at least five minutes prior to the broadcast. The call will also be Web cast from Starnet`s Web site, www.snmm.com at 4:30 EST under the "Investors" tab. A replay of the call will be available shortly after the completion of the event at www.snmm.com.
About Starnet
Starnet is a leading developer and producer of Internet technologies for gaming applications. The company`s new software, Beyond2000, which began a phased launch in August 2000, will offer a full suite of gaming products, including casinos, sports betting, bingo, lotto, and horse racing. Games are available in a number of different formats including Java, C++, and HTML and comprehensive marketing support software is also provided. For more information, please visit www.snmm.com or email sales@starnetsystems.net.
Starnet is an SEC reporting US (Delaware) corporation, which currently trades on the Over-The-Counter Bulletin Board. The company began trading in September of 1997 under the symbol "SNMM". Starnet is also listed on the Berlin and Frankfurt Stock Exchanges where it is traded on the Over-The-Counter market under the symbol "SNM".
CONTACT: Starnet Communications International Inc.
Rob Grace, Investor Relations Manager, 604/608-2255
North American Toll - 1-888-883-0833
ir@snmm.com
Or
Ogilvy Public Relations Worldwide
Amy Mumma, 212/884-4036
Das sind sehr gute Nachrichten.
Ich denke, daß starnet am Montag nicht mehr unter 1 $ notiert.
1 Woche später kommen die Q4 Zahlen, die Woche danach die offizielle Vorstellung des CEO´s.
Rimbaud
Ich denke, daß starnet am Montag nicht mehr unter 1 $ notiert.
1 Woche später kommen die Q4 Zahlen, die Woche danach die offizielle Vorstellung des CEO´s.
Rimbaud
Monday March 19, 6:18 pm Eastern Time
Press Release
Starnet Reports Record Revenue in Fiscal Third Quarter
ST. JOHNS, Antigua--(BUSINESS WIRE)--March 19, 2001--Starnet Communications International Inc. (OTC-BB: SNMM - news; ``Starnet``), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, today reported results for the three- and nine- month periods ended January 31, 2001.
Total revenues for the third quarter were $6.37 million, a new record for the Company, which represents a 44% increase compared to reported revenues of the same quarter last year and a 16% increase over Q2. Net loss for the quarter was $0.17 million, or $0.01 per share, compared to a net loss of $4.93 million, or $0.16 per share, during the corresponding quarter in fiscal 2000.
For the nine-month period ended January 31, 2001, revenue increased 28% to $15.88million, compared to $12.37 million in the same period last year. Net loss for the period was $3.28 million, or a loss of $0.10 per share, compared to a net loss of $3.98 million, or $0.13 per share, during the corresponding nine-month period in fiscal 2000.
Third quarter revenue gains were the result of a significant increase in royalties and fees from Starnet`s core licensing business. Revenues of the Company`s licensees, or system wide revenues, increased to $31.12 million, up 92% from the same quarter last year and a 60% increase from Q2. Deposits made to Starnet`s licensees by their customers, or system wide deposits, were $57.61 million in the quarter, up 41% from Q3 last year and 3% from Q2.
For the third quarter 2001, Starnet recorded positive earnings before interest, taxes depreciation and amortization (EBITDA) of $0.42 million, compared to negative EBITDA of $4.21 million in the third quarter of 2000 and negative $0.62 million in Q2 2001. The Company had not been EBITDA positive since Q2 2000.
Excluding non-recurring charges taken in the third quarter, the core business generated an operating profit of $0.41 million, compared to a net operating loss of $ 1.1 million last quarter. This $1.5 million improvement is due to a $1.0 million increase in revenues and a $0.5 million reduction in operating expenses. Total operating expenses were reduced to $5.20 million, compared to $7.39 million in the same quarter last year and $5.26 in Q2.
Third quarter non-recurring charges included severance costs of $0.26 million associated with workforce reductions in Inphinity Interactive, which are expected to lead to annualized cost savings of over $1 million, expenses of $0.13 million associated with the U.K. reorganization initiative, and a bad debt provision of $0.14 million which pertains to certain software license fee receivables booked after Q3 2000 but before the new licensee criteria were implemented. The licensees in question failed to generate sufficient Web site revenues to pay Starnet the royalty and license fees required by their contracts.
``This year`s third quarter marked a dramatic refocusing of Starnet`s operational priorities. We began the process of streamlining the company`s operations in all areas,`` commented Fred Hazell, chairman and interim president and chief executive officer of Starnet. Hazell continued, ``We also shifted the focus of our operations from software development toward better serving the needs of our licensees, executing strategic personnel changes to drive the business forward in this new direction.``
Chris Thompson, Starnet`s vice president of finance, said, ``Although the year on year growth was strong for the quarter there was a definite weakening in December and January, most likely due to the slow down in the U.S. economy. We expect this slowdown to continue, which may lead to the Company`s return to negative cash flow in Q4. The Q4 results could also be negatively affected by settlements in the class action and/or RCMP issues. Nevertheless, such settlements would greatly benefit the Company by reducing the level of uncertainty among shareholders, a benefit which far outweighs any possible short-term costs.``
Third Quarter Highlights: 2001
Shareholders approved the Company`s proposal on plans to reorganize Starnet into a new holding company domiciled in the United Kingdom.
Starnet streamlined operations company-wide with cuts that are expected to reduce operational costs by over $1 million per year going forward. The Company expanded its focus on licensee relations and service, adding Liam Gillen as executive director of operations.
Starnet added 3 new active licensees during the quarter and signed license deals with another 2 who will commence operations in Q4.
Starnet management will be holding a conference call to discuss these financial results on Tuesday March 20, 2000, at 4:30 p.m. EST. The dial in numbers for the call are 1-877-888-4210 (domestic, within North America) and 416-695-5261 (international, local Vancouver). Participants should dial in at least five minutes prior to the broadcast. A live Web cast will be available on the Starnet Web site, www.snmm.com, under the ``Investors`` tab. To listen to the Internet broadcast, participants should go to the Web site at least 15 minutes prior to the call to register, download and install any necessary audio software. A replay of the call will be available shortly after the completion of the event at www.snmm.com.
Press Release
Starnet Reports Record Revenue in Fiscal Third Quarter
ST. JOHNS, Antigua--(BUSINESS WIRE)--March 19, 2001--Starnet Communications International Inc. (OTC-BB: SNMM - news; ``Starnet``), a leading provider of interactive media and information systems for companies engaged in the Internet gaming industry, today reported results for the three- and nine- month periods ended January 31, 2001.
Total revenues for the third quarter were $6.37 million, a new record for the Company, which represents a 44% increase compared to reported revenues of the same quarter last year and a 16% increase over Q2. Net loss for the quarter was $0.17 million, or $0.01 per share, compared to a net loss of $4.93 million, or $0.16 per share, during the corresponding quarter in fiscal 2000.
For the nine-month period ended January 31, 2001, revenue increased 28% to $15.88million, compared to $12.37 million in the same period last year. Net loss for the period was $3.28 million, or a loss of $0.10 per share, compared to a net loss of $3.98 million, or $0.13 per share, during the corresponding nine-month period in fiscal 2000.
Third quarter revenue gains were the result of a significant increase in royalties and fees from Starnet`s core licensing business. Revenues of the Company`s licensees, or system wide revenues, increased to $31.12 million, up 92% from the same quarter last year and a 60% increase from Q2. Deposits made to Starnet`s licensees by their customers, or system wide deposits, were $57.61 million in the quarter, up 41% from Q3 last year and 3% from Q2.
For the third quarter 2001, Starnet recorded positive earnings before interest, taxes depreciation and amortization (EBITDA) of $0.42 million, compared to negative EBITDA of $4.21 million in the third quarter of 2000 and negative $0.62 million in Q2 2001. The Company had not been EBITDA positive since Q2 2000.
Excluding non-recurring charges taken in the third quarter, the core business generated an operating profit of $0.41 million, compared to a net operating loss of $ 1.1 million last quarter. This $1.5 million improvement is due to a $1.0 million increase in revenues and a $0.5 million reduction in operating expenses. Total operating expenses were reduced to $5.20 million, compared to $7.39 million in the same quarter last year and $5.26 in Q2.
Third quarter non-recurring charges included severance costs of $0.26 million associated with workforce reductions in Inphinity Interactive, which are expected to lead to annualized cost savings of over $1 million, expenses of $0.13 million associated with the U.K. reorganization initiative, and a bad debt provision of $0.14 million which pertains to certain software license fee receivables booked after Q3 2000 but before the new licensee criteria were implemented. The licensees in question failed to generate sufficient Web site revenues to pay Starnet the royalty and license fees required by their contracts.
``This year`s third quarter marked a dramatic refocusing of Starnet`s operational priorities. We began the process of streamlining the company`s operations in all areas,`` commented Fred Hazell, chairman and interim president and chief executive officer of Starnet. Hazell continued, ``We also shifted the focus of our operations from software development toward better serving the needs of our licensees, executing strategic personnel changes to drive the business forward in this new direction.``
Chris Thompson, Starnet`s vice president of finance, said, ``Although the year on year growth was strong for the quarter there was a definite weakening in December and January, most likely due to the slow down in the U.S. economy. We expect this slowdown to continue, which may lead to the Company`s return to negative cash flow in Q4. The Q4 results could also be negatively affected by settlements in the class action and/or RCMP issues. Nevertheless, such settlements would greatly benefit the Company by reducing the level of uncertainty among shareholders, a benefit which far outweighs any possible short-term costs.``
Third Quarter Highlights: 2001
Shareholders approved the Company`s proposal on plans to reorganize Starnet into a new holding company domiciled in the United Kingdom.
Starnet streamlined operations company-wide with cuts that are expected to reduce operational costs by over $1 million per year going forward. The Company expanded its focus on licensee relations and service, adding Liam Gillen as executive director of operations.
Starnet added 3 new active licensees during the quarter and signed license deals with another 2 who will commence operations in Q4.
Starnet management will be holding a conference call to discuss these financial results on Tuesday March 20, 2000, at 4:30 p.m. EST. The dial in numbers for the call are 1-877-888-4210 (domestic, within North America) and 416-695-5261 (international, local Vancouver). Participants should dial in at least five minutes prior to the broadcast. A live Web cast will be available on the Starnet Web site, www.snmm.com, under the ``Investors`` tab. To listen to the Internet broadcast, participants should go to the Web site at least 15 minutes prior to the call to register, download and install any necessary audio software. A replay of the call will be available shortly after the completion of the event at www.snmm.com.
NO NEW CEO......
Chief Executive Officer
-----------------------
As previously announced in a press release dated March 2, 2001, the Company executed an agreement with an individual for the position of President and Chief Executive Officer. The Agreement was subject to various conditions and required further negotiations. The Company has since concluded not to further pursue negotiations with such individual. The agreement has been terminated by the Company in accordance with its terms, and the Company believes it has no liability under the agreement.
The Company is continuing its search for a President and Chief Executive Officer and expects to name a successor in the near future.
Chief Executive Officer
-----------------------
As previously announced in a press release dated March 2, 2001, the Company executed an agreement with an individual for the position of President and Chief Executive Officer. The Agreement was subject to various conditions and required further negotiations. The Company has since concluded not to further pursue negotiations with such individual. The agreement has been terminated by the Company in accordance with its terms, and the Company believes it has no liability under the agreement.
The Company is continuing its search for a President and Chief Executive Officer and expects to name a successor in the near future.
Hallo Freunde!
Wie sind diese Zahlen zu werten?
Auf den ersten Blick sieht es so aus, als ob es morgen einigermaßen nach oben geht. Oder sehe ich das falsch?
Rekordumsatz; Verlust von 0,01 Cent/Aktie und das mit der Erwartung eines Umzuges, der erfolgversprechend scheint. (Dem von Gigaguru übersetzten Bericht zu urteilen)
Na ja, vielleicht wirds ja doch noch irgendwann mal was, nach 2 Jahren warten kommts auf die nächsten 2 Jahre auch nicht mehr an!
Viel Geduld noch!
jonib
Wie sind diese Zahlen zu werten?
Auf den ersten Blick sieht es so aus, als ob es morgen einigermaßen nach oben geht. Oder sehe ich das falsch?
Rekordumsatz; Verlust von 0,01 Cent/Aktie und das mit der Erwartung eines Umzuges, der erfolgversprechend scheint. (Dem von Gigaguru übersetzten Bericht zu urteilen)
Na ja, vielleicht wirds ja doch noch irgendwann mal was, nach 2 Jahren warten kommts auf die nächsten 2 Jahre auch nicht mehr an!
Viel Geduld noch!
jonib
World Gaming plc -- International I-gaming software and e-commerce pioneer proceeds with reorganization
ST. JOHN`S, Antigua--(BUSINESS WIRE)--May 29, 2001--
Starnet becomes World Gaming plc, incorporates in United Kingdom
Starnet Communications International Inc., a global pioneer in I-gaming technologies, has become World Gaming plc (NASDAQ OTC: WGMGY), as part of the company`s reorganization plans first announced in October of 2000. World Gaming has been incorporated in the United Kingdom, a jurisdiction that strongly supports the I-gaming industry, in order to accelerate expansion into Europe and Asia.
"Today`s announcement is only the first step in a corporate
reorganization focused on reasserting our position in the international I-gaming industry," said Michael Aymong, World Gaming`s
new Chief Executive Officer. "Today we are not merely changing logos and stationery -- we are creating an entirely new organization and culture committed to doing all of the things necessary to ensure strong international growth and enhanced shareholder value."
In recent months, the company has taken a number of important steps to improve performance: making reductions in operating costs, improving management and reporting structures, and recruiting a new CEO with a track record of making technology companies thrive in competitive, rapidly evolving markets.
"Management has made clear commitments to sound business practices and leadership, a strong sales and customer focus, and accelerated product development cycles and innovation," said Aymong. "In the coming weeks, we will be announcing a number of key management appointments that will be important to achieving our ambitious goals."
Aymong, a former senior executive with GT Group Telecom, Telus and MetroNet Communications, took on the top job at World Gaming on April 9, 2001.
In connection with the reorganization, World Gaming has obtained United States Securities and Exchange Commission registration of American Depositary Shares evidenced by American Depositary Receipts ("ADR"s) for World Gaming plc. ADRs are negotiable U.S. securities that represent a non-U.S. company`s publicly traded equity. Their prices are quoted in U.S. dollars and will settle in the same manner
U.S. shares do. The World Gaming ADRs will be traded on NASDAQ:OTC, effective today, just as the Starnet communications shares have been in the past. In connection with the reorganization, each holder of shares of Starnet will receive one ADR of World Gaming plc, in
exchange for each share of Starnet common stock. Stockholders may obtain further information from their broker.
About World Gaming plc
World Gaming plc is a pioneer and leader in I-gaming software and e-commerce technologies. With offices in London, Vancouver, Gibraltar and Antigua, World Gaming is an international developer, licensor and provider of the industry`s most comprehensive offering of online gaming products, including casino, sports book and pari-mutuel betting.
--30--KB/la*
CONTACT: Goodman Communications
Joe Romagnolo, 416/924-9100, ext. 252
joe@goodmanpr.com
ST. JOHN`S, Antigua--(BUSINESS WIRE)--May 29, 2001--
Starnet becomes World Gaming plc, incorporates in United Kingdom
Starnet Communications International Inc., a global pioneer in I-gaming technologies, has become World Gaming plc (NASDAQ OTC: WGMGY), as part of the company`s reorganization plans first announced in October of 2000. World Gaming has been incorporated in the United Kingdom, a jurisdiction that strongly supports the I-gaming industry, in order to accelerate expansion into Europe and Asia.
"Today`s announcement is only the first step in a corporate
reorganization focused on reasserting our position in the international I-gaming industry," said Michael Aymong, World Gaming`s
new Chief Executive Officer. "Today we are not merely changing logos and stationery -- we are creating an entirely new organization and culture committed to doing all of the things necessary to ensure strong international growth and enhanced shareholder value."
In recent months, the company has taken a number of important steps to improve performance: making reductions in operating costs, improving management and reporting structures, and recruiting a new CEO with a track record of making technology companies thrive in competitive, rapidly evolving markets.
"Management has made clear commitments to sound business practices and leadership, a strong sales and customer focus, and accelerated product development cycles and innovation," said Aymong. "In the coming weeks, we will be announcing a number of key management appointments that will be important to achieving our ambitious goals."
Aymong, a former senior executive with GT Group Telecom, Telus and MetroNet Communications, took on the top job at World Gaming on April 9, 2001.
In connection with the reorganization, World Gaming has obtained United States Securities and Exchange Commission registration of American Depositary Shares evidenced by American Depositary Receipts ("ADR"s) for World Gaming plc. ADRs are negotiable U.S. securities that represent a non-U.S. company`s publicly traded equity. Their prices are quoted in U.S. dollars and will settle in the same manner
U.S. shares do. The World Gaming ADRs will be traded on NASDAQ:OTC, effective today, just as the Starnet communications shares have been in the past. In connection with the reorganization, each holder of shares of Starnet will receive one ADR of World Gaming plc, in
exchange for each share of Starnet common stock. Stockholders may obtain further information from their broker.
About World Gaming plc
World Gaming plc is a pioneer and leader in I-gaming software and e-commerce technologies. With offices in London, Vancouver, Gibraltar and Antigua, World Gaming is an international developer, licensor and provider of the industry`s most comprehensive offering of online gaming products, including casino, sports book and pari-mutuel betting.
--30--KB/la*
CONTACT: Goodman Communications
Joe Romagnolo, 416/924-9100, ext. 252
joe@goodmanpr.com
Wednesday May 30, 3:13 pm Eastern Time
Press Release
SOURCE: World Gaming plc
via BCE Emergis e-News Services
World Gaming Plc To Host Conference Call And Web Cast For Shareholders
St. John`s, Antigua
World Gaming plc (NASDAQ OTC: WGMGY - news), a global pioneer in I-gaming technologies, will host a conference call for its shareholders from the Global Interactive Gaming Summit and Expo on Thursday, June 7 at 12:30 p.m. EST.
The call, to be simultaneously Web cast, will include an informal update from Michael Aymong, Chief Executive Officer, followed by a question-and-answer period.
Date: Thursday, June 7, 2001
Time: 12:30 p.m. EST
Dial-in number: 1-888-303-1619
Web cast: www.worldgaming.com
Shareholders are also invited to visit the Investor section of the company`s Web site at www.worldgaming.com on Thursday, June 7 to review a summary of Mr. Aymong`s comments.
About World Gaming plc World Gaming plc is a pioneer and leader in I-gaming software and e-commerce technologies. World Gaming is an international developer, licensor and provider of the industry`s most comprehensive offering of online gaming products, including casino, sports book and pari-mutuel betting.
Software required for Web cast: A Netscape 4.0 or Internet Explorer 4.0 browser (or better) is required to access the broadcast via the Internet. Participants will also require the latest version of Windows Media Player or Real Player in order to access the audio broadcast of the call. Those who wish to do so can download Windows Media player or Real Player via the Web site at: www.worldgaming.com.
For further information contact: Joe Romagnolo Goodman Communications Inc. Tel: 416-924-9100 ext. 252 joe@goodmanpr.com
SOURCE: World Gaming plc
Press Release
SOURCE: World Gaming plc
via BCE Emergis e-News Services
World Gaming Plc To Host Conference Call And Web Cast For Shareholders
St. John`s, Antigua
World Gaming plc (NASDAQ OTC: WGMGY - news), a global pioneer in I-gaming technologies, will host a conference call for its shareholders from the Global Interactive Gaming Summit and Expo on Thursday, June 7 at 12:30 p.m. EST.
The call, to be simultaneously Web cast, will include an informal update from Michael Aymong, Chief Executive Officer, followed by a question-and-answer period.
Date: Thursday, June 7, 2001
Time: 12:30 p.m. EST
Dial-in number: 1-888-303-1619
Web cast: www.worldgaming.com
Shareholders are also invited to visit the Investor section of the company`s Web site at www.worldgaming.com on Thursday, June 7 to review a summary of Mr. Aymong`s comments.
About World Gaming plc World Gaming plc is a pioneer and leader in I-gaming software and e-commerce technologies. World Gaming is an international developer, licensor and provider of the industry`s most comprehensive offering of online gaming products, including casino, sports book and pari-mutuel betting.
Software required for Web cast: A Netscape 4.0 or Internet Explorer 4.0 browser (or better) is required to access the broadcast via the Internet. Participants will also require the latest version of Windows Media Player or Real Player in order to access the audio broadcast of the call. Those who wish to do so can download Windows Media player or Real Player via the Web site at: www.worldgaming.com.
For further information contact: Joe Romagnolo Goodman Communications Inc. Tel: 416-924-9100 ext. 252 joe@goodmanpr.com
SOURCE: World Gaming plc
Thursday June 14, 12:54 pm Eastern Time
Press Release
World Gaming Announces Two Key Appointments
Global I-gaming company appoints director of product development and augments customer relations through key promotion
ST. JOHN`S, Antigua--(BUSINESS WIRE)--June 14th, 2001-- World Gaming plc (NASDAQ OTC:WGMGY - news), a global pioneer in I-gaming technologies, announced two key appointments as new CEO Michael Aymong continues to execute the company reorganization, with a focus on product development and customer service.
Mike Steele has been hired as Managing Director of Inphinity Interactive and Liam Gillen has been promoted to Managing Director, Antigua Operations.
``Liam brings 25 years of gaming experience to the table, while Mike has outstanding product development and operational planning expertise,`` said Aymong. ``Mike and Liam will play an integral role in World Gaming`s success.``
Steele now oversees all maintenance, upgrades, support and development of the company`s proprietary software products, as well as the team that implements software integration at Inphinity Interactive, an operating subsidiary of World Gaming that is based out of Vancouver, British Columbia.
Steele`s immediate priority is to deliver World Gaming 3.2, a complete gaming software package that incorporates state-of-the-art gaming products, multiple back-office applications, and cutting-edge Windows Client and Java-based gaming experiences. World Gaming 3.2, which was showcased at the recent International I-Gaming Summit and Expo in Toronto, will be released July 31, 2001.
``Feedback from those who have seen World Gaming 3.2 has been outstanding,`` said Steele. ``This suite of software will again confirm World Gaming`s position as an industry leader in I-gaming products.``
Steele has extensive experience in developing and executing product strategies for technology companies. Steele first worked with Aymong as a private consultant to telecommunications service provider MetroNet (AT&T Canada) and later GT Group Telecom, in the areas of strategic planning and market development. With GT, he consulted on the company`s first retail take-to-market plan for its national expansion across Canada and participated in the analysis team that supported nearly $1 billion in acquisitions. Steele also implemented the service development process for TELUS Advanced Communications prior to its merger with BC TEL and led the marketing efforts for three software companies in Calgary.
Gillen, who has managed the company`s data centre and electronic transaction processing facility in St. John`s, Antigua for the past year, has taken on the added responsibility for World Gaming`s licensee relations and player service.
``I look forward to my new role at World Gaming,`` said Gillen. ``We processed more than $2 billion in online wagers last year and can expect that number to grow in 2001. That means customer service, security and expanding our mission-critical facilities are my top priorities.``
Gillen brings a comprehensive understanding of gaming operations and vendor relationships to World Gaming through more than 25 years experience in casino operations. As well, his experience as a former licensee within the gaming industry provides an insight that is critical to developing and maintaining relationships with partners and licensees.
About World Gaming plc
World Gaming plc is a pioneer and leader in I-gaming software and e-commerce technologies. World Gaming is an international developer, licensor and provider of the industry`s most comprehensive offering of online gaming products, including casino, sports book and pari-mutuel betting.
Press Release
World Gaming Announces Two Key Appointments
Global I-gaming company appoints director of product development and augments customer relations through key promotion
ST. JOHN`S, Antigua--(BUSINESS WIRE)--June 14th, 2001-- World Gaming plc (NASDAQ OTC:WGMGY - news), a global pioneer in I-gaming technologies, announced two key appointments as new CEO Michael Aymong continues to execute the company reorganization, with a focus on product development and customer service.
Mike Steele has been hired as Managing Director of Inphinity Interactive and Liam Gillen has been promoted to Managing Director, Antigua Operations.
``Liam brings 25 years of gaming experience to the table, while Mike has outstanding product development and operational planning expertise,`` said Aymong. ``Mike and Liam will play an integral role in World Gaming`s success.``
Steele now oversees all maintenance, upgrades, support and development of the company`s proprietary software products, as well as the team that implements software integration at Inphinity Interactive, an operating subsidiary of World Gaming that is based out of Vancouver, British Columbia.
Steele`s immediate priority is to deliver World Gaming 3.2, a complete gaming software package that incorporates state-of-the-art gaming products, multiple back-office applications, and cutting-edge Windows Client and Java-based gaming experiences. World Gaming 3.2, which was showcased at the recent International I-Gaming Summit and Expo in Toronto, will be released July 31, 2001.
``Feedback from those who have seen World Gaming 3.2 has been outstanding,`` said Steele. ``This suite of software will again confirm World Gaming`s position as an industry leader in I-gaming products.``
Steele has extensive experience in developing and executing product strategies for technology companies. Steele first worked with Aymong as a private consultant to telecommunications service provider MetroNet (AT&T Canada) and later GT Group Telecom, in the areas of strategic planning and market development. With GT, he consulted on the company`s first retail take-to-market plan for its national expansion across Canada and participated in the analysis team that supported nearly $1 billion in acquisitions. Steele also implemented the service development process for TELUS Advanced Communications prior to its merger with BC TEL and led the marketing efforts for three software companies in Calgary.
Gillen, who has managed the company`s data centre and electronic transaction processing facility in St. John`s, Antigua for the past year, has taken on the added responsibility for World Gaming`s licensee relations and player service.
``I look forward to my new role at World Gaming,`` said Gillen. ``We processed more than $2 billion in online wagers last year and can expect that number to grow in 2001. That means customer service, security and expanding our mission-critical facilities are my top priorities.``
Gillen brings a comprehensive understanding of gaming operations and vendor relationships to World Gaming through more than 25 years experience in casino operations. As well, his experience as a former licensee within the gaming industry provides an insight that is critical to developing and maintaining relationships with partners and licensees.
About World Gaming plc
World Gaming plc is a pioneer and leader in I-gaming software and e-commerce technologies. World Gaming is an international developer, licensor and provider of the industry`s most comprehensive offering of online gaming products, including casino, sports book and pari-mutuel betting.
Monday July 9, 12:21 pm Eastern Time
Press Release
World Gaming Appoints New Chief Operating Officer
ST. JOHN`S, Antigua--(BUSINESS WIRE)--July 9, 2001--World Gaming plc (NASDAQ OTC: WGMGY - news), a global pioneer in I-gaming technologies, announced the appointment of David Pasieka as its Chief Operating Officer.
Pasieka, who has been acting COO for the past two months, will oversee all of the company`s day-to-day operations, with an immediate focus on business planning and product development. As well, Pasieka will spearhead World Gaming`s global expansion strategy.
``David brings a wealth of global operations experience at a critical juncture for the company,`` said World Gaming CEO Michael Aymong. ``An important piece of the puzzle has been added today as David will play a significant role in the company`s future success.``
Pasieka joins World Gaming from 724 Solutions Inc., where he held the position of Senior Vice President, Application Hosting and IT. There, he was responsible for the global development and implementation of an outsourced, wireless Internet solution for the company`s international software customers. Further, he was responsible for overall strategy and product development, pricing, revenue, profit and loss, capital budgeting, vendor management, and ongoing application support. Pasieka also held global accountability for the company`s technology infrastructure.
``I was drawn to this position by both the opportunities and challenges that present themselves with World Gaming and the industry as a whole,`` said Pasieka, who has more than 20 years of management experience. ``I-gaming is still in its infancy, yet the company is considered an established player. Now our focus is strategic growth on a global level - and I feel my experience is aligned with that direction.``
Pasieka began his career at Bell Canada, where he spent nine years focused on facilities administration, operations planning, and cost and performance. He left Bell to join AT&T Canada (Unitel/CNCP Telecommunications) to work in the areas of business planning, operations planning, customer and network services, marketing, and access management.
Next, Pasieka joined MetroNet Communications Corporation, Canada`s first national competitive local exchange carrier as Vice President and General Manager. There, he created sales, business development and operations teams, drove revenues from $1 million to $100 million in one year, secured Rights of Way with local utilities and governments, and oversaw the expansion of service areas through local fibre networks.
Pasieka holds a Bachelor of Science Degree from the University of Waterloo and a Masters of Business Administration from York University. He also attended the Strategic Product Management program from AT&T School of Business and the Executive Marketing Program at the Western School of Business. He is a member of the Advisory Boards of NTG Clarity Networks and Conceptwave Software.
Press Release
World Gaming Appoints New Chief Operating Officer
ST. JOHN`S, Antigua--(BUSINESS WIRE)--July 9, 2001--World Gaming plc (NASDAQ OTC: WGMGY - news), a global pioneer in I-gaming technologies, announced the appointment of David Pasieka as its Chief Operating Officer.
Pasieka, who has been acting COO for the past two months, will oversee all of the company`s day-to-day operations, with an immediate focus on business planning and product development. As well, Pasieka will spearhead World Gaming`s global expansion strategy.
``David brings a wealth of global operations experience at a critical juncture for the company,`` said World Gaming CEO Michael Aymong. ``An important piece of the puzzle has been added today as David will play a significant role in the company`s future success.``
Pasieka joins World Gaming from 724 Solutions Inc., where he held the position of Senior Vice President, Application Hosting and IT. There, he was responsible for the global development and implementation of an outsourced, wireless Internet solution for the company`s international software customers. Further, he was responsible for overall strategy and product development, pricing, revenue, profit and loss, capital budgeting, vendor management, and ongoing application support. Pasieka also held global accountability for the company`s technology infrastructure.
``I was drawn to this position by both the opportunities and challenges that present themselves with World Gaming and the industry as a whole,`` said Pasieka, who has more than 20 years of management experience. ``I-gaming is still in its infancy, yet the company is considered an established player. Now our focus is strategic growth on a global level - and I feel my experience is aligned with that direction.``
Pasieka began his career at Bell Canada, where he spent nine years focused on facilities administration, operations planning, and cost and performance. He left Bell to join AT&T Canada (Unitel/CNCP Telecommunications) to work in the areas of business planning, operations planning, customer and network services, marketing, and access management.
Next, Pasieka joined MetroNet Communications Corporation, Canada`s first national competitive local exchange carrier as Vice President and General Manager. There, he created sales, business development and operations teams, drove revenues from $1 million to $100 million in one year, secured Rights of Way with local utilities and governments, and oversaw the expansion of service areas through local fibre networks.
Pasieka holds a Bachelor of Science Degree from the University of Waterloo and a Masters of Business Administration from York University. He also attended the Strategic Product Management program from AT&T School of Business and the Executive Marketing Program at the Western School of Business. He is a member of the Advisory Boards of NTG Clarity Networks and Conceptwave Software.
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World Gaming Appoints New Chief Financial Officer
ST. JOHN`S, Antigua, Jul 12, 2001 (BUSINESS WIRE) -- World Gaming plc (NASDAQ
OTC: WGMGY), a global pioneer in I-gaming technologies, announced the
appointment of Rodney Davis as its Chief Financial Officer.
Davis will oversee all of the company`s financial operations, with an immediate
focus on the institutional investment communities in North America and Europe,
and on preparations for the company`s move to list on a senior exchange.
"Rodney brings outstanding corporate financial experience to the company," said
World Gaming CEO Michael Aymong. "This development, together with the
announcement made earlier this week of David Pasieka as our new COO, means that
we now have the critically important senior management positions in place and
can begin the next phase of World Gaming`s growth and development."
With almost 15 years experience, Davis brings to World Gaming a successful track
record in the areas of strategic and business planning, public market
financings, corporate restructurings, public financial reporting, acquisition
negotiations and execution. His career has ranged from auditing to mergers and
acquisitions to high finance.
"The opportunity to join a true industry leader with superior technologies was
irresistible," said Davis. "It is an exciting time to be joining the team and I
look forward to contributing to the successful implementation of World Gaming`s
business plan and international growth strategies."
Most recently, Davis held the position of CFO at MGI Software Corporation, a
leading global provider of visual media software and infrastructure solutions
distributed in over 40 countries. At MGI, Davis successfully completed a $23
million bought deal in Canada, co-led by National Bank and BMO Nesbitt Burns.
Further, he introduced processes and accountabilities to the company that led to
better-informed decision-making and resource allocations.
Prior to joining MGI, Davis was Vice President Corporate Development of Maxxcom
Inc. where he managed the company`s acquisition program and participated in
taking the company public. In 1997, Davis was appointed Vice President and
Corporate Controller for Southam Inc., a media company with annual revenues of
$1.3 billion. At Southam, Davis was responsible for all public financial
reporting, as well as approving business plans and capital expenditures for all
divisions. Davis obtained his CA designation while working at KPMG LLP.
freerealtime.com
ST. JOHN`S, Antigua, Jul 12, 2001 (BUSINESS WIRE) -- World Gaming plc (NASDAQ
OTC: WGMGY), a global pioneer in I-gaming technologies, announced the
appointment of Rodney Davis as its Chief Financial Officer.
Davis will oversee all of the company`s financial operations, with an immediate
focus on the institutional investment communities in North America and Europe,
and on preparations for the company`s move to list on a senior exchange.
"Rodney brings outstanding corporate financial experience to the company," said
World Gaming CEO Michael Aymong. "This development, together with the
announcement made earlier this week of David Pasieka as our new COO, means that
we now have the critically important senior management positions in place and
can begin the next phase of World Gaming`s growth and development."
With almost 15 years experience, Davis brings to World Gaming a successful track
record in the areas of strategic and business planning, public market
financings, corporate restructurings, public financial reporting, acquisition
negotiations and execution. His career has ranged from auditing to mergers and
acquisitions to high finance.
"The opportunity to join a true industry leader with superior technologies was
irresistible," said Davis. "It is an exciting time to be joining the team and I
look forward to contributing to the successful implementation of World Gaming`s
business plan and international growth strategies."
Most recently, Davis held the position of CFO at MGI Software Corporation, a
leading global provider of visual media software and infrastructure solutions
distributed in over 40 countries. At MGI, Davis successfully completed a $23
million bought deal in Canada, co-led by National Bank and BMO Nesbitt Burns.
Further, he introduced processes and accountabilities to the company that led to
better-informed decision-making and resource allocations.
Prior to joining MGI, Davis was Vice President Corporate Development of Maxxcom
Inc. where he managed the company`s acquisition program and participated in
taking the company public. In 1997, Davis was appointed Vice President and
Corporate Controller for Southam Inc., a media company with annual revenues of
$1.3 billion. At Southam, Davis was responsible for all public financial
reporting, as well as approving business plans and capital expenditures for all
divisions. Davis obtained his CA designation while working at KPMG LLP.
freerealtime.com
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