Webis Regulatory News (WEB)

9 Oct 2006 11:51

betinternet.com PLC09 October 2006 FOR IMMEDIATE RELEASE 09 October 2006 BETINTERNET.COM PLC ('betinternet' or the 'Company') AGM STATEMENT At today's Annual General Meeting of betinternet, the Chairman, Mr Denham Eke,made the following statement regarding the Company's current trading position: 'Shareholders will be aware following the recent publication of our Reportand Accounts that the Company has now moved into profitability. This has beenachieved through the continued growth in its pari-mutuel business, EuropeanWagering Services ('EWS') and by the introduction of additional gamingcontent for its sportsbook website, betinternet.com. I am pleased to report that the new sportsbook website has been very wellreceived by our customers and the number of wagering opportunities has increasedtremendously. In addition to the download casino from Real Time Gaming, we havenow introduced a fully embedded flash casino to complement our live dealercasino and games suite. As we add more gaming products to our website, we expectthat betinternet will continue to become a more attractive gaming andentertainment portal, where customers can select their preferred wageringopportunities. EWS has continued to show strong revenues into the new financial year and isactively co-operating with existing and potential B2B clients in relation totechnology services for wagering through our Isle of Man totalisator hub intoracecourse pools. In addition, the Thoroughbred Racing Protective Bureau hasrecently sent out its audit report for our business to a number of racetracks inthe United States. This report in effect, encompasses the due diligence thatmany tracks require to allow third parties to bet into their racecourse pools.As a result of this report, it is hoped that we can obtain further contractswith racecourses enabling additional content for our customers to wager on. The board's view is that the recent passing of the Unlawful Internet GamblingEnforcement Bill in the United States will have little impact on betinternet'scurrent business, as detailed in our statement to the market on 2 October. Wewill, however, continue to seek clarification on the Bill in relation topari-mutuel betting, which is legalised by the Interstate Horseracing Act of1978. I am extremely pleased also to announce that Global Coresports Limited, in whichbetinternet. has a 17.3% stake, has last week launched its first product,coreFootball, a dynamic football management game using artificial intelligence.The board is confident that the game will be well received and that it will takeskill-based gaming to a new level. The website can be found atwww.corefootball.com. The company anticipates announcing its interim results for the 26 weeks to 26thNovember 2006 in February 2007. The board is pleased that the current management team have added a renewed focuson the key elements of the business and have demonstrated that we have thecorrect strategies in place to ensure a full year profit.' For further information call: betinternet.com plc: Garry Knowles01624 698141 Evolution Securities Limited: Joanne Lake0113 243 1619 Britton Financial PR: Tim Blackstone0207 251 2544 This information is provided by RNS The company news service from the London Stock Exchange