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IN-GAME BETTING COMPANY IN TROUBLE
Bad news from Global Interactive Gaming Limited parent group Interactive Systems Worldwide Inc (ISWI), this week is that the company cannot file its quarterly report for the period ended 30 June 2008. The company cites a lack of financial resources and the anticipated expenses associated with the preparation, independent auditor review and filing of the report as the cause.
GIG's SportXction in-game betting software is used by several of the big sports betting names in UK gambling, yet the parent company is clearly struggling to make ends meet in a tough market, and will soon cease trading on the OTCBB, although it will be quoted on the Pink Sheets.
If and when a quarterly report becomes possible, company statements indicate that it should show that Interactive Systems Worldwide believes that it achieved an increase in revenues and a decrease in net operating loss for the three months ended 30 June 2008 when compared to the same period in 2007.
If the company is not able to find new financing or enter into a strategic transaction, it may have to cease operations. However if its financial condition improves sufficiently, the company intends to file Form 10-QSB and regain compliance for quotation on the OTCBB, CEO Bernard Albanese has indicated.
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Asia Gaming To Showcase Live Dealer Action -
Asia Gaming will be practically demonstrating its live dealer baccarat at the ICE show next month. The Asia-facing online gambling provider is on the expansion trail and intends to make a big impact at the expo and conference in London.
2017 Aussie Millions Event 6 -
Heads up, Boivin faced local pro Joel Feldman, but the Aussie proved to be no match for an on-fire Boivin who dispatched him with the runner up prize of A$78,440.
2017 Ice Totally Gaming -
Next month's ICE Totally Gaming conference and expo will again be a truly international affair, following confirmation by organizers Clarion Gaming that a total of 67 jurisdictions and sovereign states will be represented on the show floor at ExCeL Centre, London.
IGT in 7 Year Deal With Svenska Spel -
#IGT , as legacy #GTECH , has been providing video lottery products and support services to the state-owned monopoly Svenska Spel since 1996, the statement reminds readers.
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