Up nearlly 15% today and I beleive there could be more to come.

Evil Knievil has tipped it on EvilCast and has bought in 100,000 worth of stock a notifiable interest. He rates the management very highly and says they are attracting all the big bookmakers to the online casino site including punters the likes of William Hill, Chandler, and Ladbrokes. The company are now running at a profit every month and should break into a yearly profit from the years previous loss very soon. The company also ownes in partnership with a Swiss firm Boss another casino site and by all accounts that is doing well.

Im looking at this one as a momentum play pretty high risk as there are competitors out there but I feel the management will give it the edge.

Please DYOR, and remember you are responsible for your own buying and selling actions.

cheers GF.

I think the name change and the refocusing of the company by selling the mobile gambling is a 1st class move. It will now have a broader base not just gaming and a new web site as well. This has been worked on for months. It just goes to show the directors had there hands on the pluse all the time. Well done to them. Just look at the buying going on.

MS

Yup mickey was alerted to it by Pete Hippy (sin thread) last night on the Finfoex B/Board.

What I wont to know though is if they are selling the gaming business off, how will this affect Earning per share.

The company at present have assets galore but Im not sure what or how the company should be valued.

That last statement looks like EPS are bombing, but take the gaming business away and whats left?.

I guess what I am saying is, how much did these ...

Casino.co.uk and the company's mobile gaming business

earn as a % of the total revenue and profits of the company???, anyone know?.

cheers GF.

I seem to remember reading it was about 20% but I really can't remember. I'll try and find out. In the mean time you might find this interesting. Taken from the other place credit to The Analyst a top poster.

Trading statement Oct 26th 2006
- Profit after tax increased 400% to 2.5m (2005: 0.5m) *
- Gross profit increased 75% to 4.7m (2005: 2.7m)
- Cash balances at the year end over 5.2m (2005: 2.8m)
- Consolidated net assets of 17.3m (2005: 14.8m)
- Earnings per share of 0.9 pence (2005: 0.2 pence)
- Cash per share of 1.8 pence (2005: 1.0 pence)

Gaming Corporation (GMC) reported a 400% rise in pre-tax profit and realised net cash of 5.2m for the 12 months to 30 September 2006 as the firm confirmed its plans to ditch its online and mobile gaming business.

Shares in the London-based firm, which is proposing to change its name to Media Corporation as it restructures to broaden its advertising appeal, soared 20% to trade at 6p by 3.40pm. Management said the name change would reflect that "the group generates its entire operating profit from its portals and advertising businesses".

The company added that changes in US regulations would be positive for the valuation of both Casino.co.uk and the company's mobile gaming business since these have no US customers and derive more than 95% of their revenues from the UK market. "It is anticipated the sale proceeds could be significant and would enable the company to accelerate the growth of the media and advertising business further," said chief executive Justin Drummond.

Mark Reed, a leisure analyst at Teather & Greenwood, put today's share spike down to investors possibly realising the stock had been massively sold off after the introduction of damaging US gaming laws. "With cash on the balance sheet of 5m, an enterprise value of 10m and pre-tax profit of 2.5m for the year, it's on a pretty cheap multiple," he added.

"The other point is it's looking to sell its gaming business and focus on the portals, which historically make all the money and the company has hinted it could be possible to sell its gaming business for the enterprise value of the firm. That's the big hope."

As the company does not currently pay tax and has low capital expenditure, Reed also noted most of the 2.5m profit would be converted to cash. He has rated the stock a Buy, but added: "It is a very small stock - even smaller after its market cap was halved in the last six months to 15m - and it is too early to say how much it could realise from the gaming business."

Alison Swersky, staff writer, Bloomberg Money

GF

From the horses mouth 20%. Worth 5 to 10 nearer to 5 me thinks.

Gaming Corp. Held `Initial' Talks on Sale of Unit (Update2)

By Amy Wilson

Oct. 26 (Bloomberg) -- Gaming Corporation Plc, operator of the U.K.'s largest Internet casino site, has held ``initial conversations'' about selling its online gaming unit, Chief Executive Officer Justin Drummond said.

``We've had initial conversations with several parties,'' Drummond said in a telephone interview today. The talks were with online gambling companies whose shares trade in the U.K., he said.

Gaming Corp. is seeking to sell its Internet and mobile phone gaming business, which includes the www.casino.co.uk site, and use the money to expand its advertising business, it said in a Business Wire statement today. The London-based company's gambling sites generate 95 percent of their revenue in the U.K. and don't have any customers in the U.S., where the government has made it illegal to process payments for online gaming.

The company's shares climbed 20 percent to close at 6 pence, the biggest gain in 20 months.

``It's a very good brand for the U.K. market, and anyone looking to expand there,'' Drummond said in the interview. The gambling unit makes money from selling advertising space as well as from games, he said. The unit accounted for less than 500,000 pounds ($940,000), or 20 percent, of Gaming Corp.'s profit last year, Drummond said.

Net income in the year ended Sept. 30 increased five-fold to 2.5 million pounds from 500,000 pounds. Earnings per share climbed to 0.9 pence a share, compared with 0.2 pence a year earlier, the company said in a Business Wire statement.

Advertising

``The increase in profit has been generated by the advertising business,'' Drummond said. Gaming Corp., which today agreed to change its name to Media Corporation Plc, operates a search engine for gambling sites and a media agency which sells online advertising space to financial services and Internet companies.

The company has 5.2 million pounds in cash which it will use to expand its existing business and make acquisitions, according to the statement. Drummond plans to buy search engines specializing in financial services and travel, he said.

To contact the reporter for this story: Amy Wilson in London at awilson23@bloomberg.net

Last Updated: October 26, 2006 11:56 EDT

From the other place. An awful lot being written about this in the last couple of days. Hope you find it of some use.


JackTheTrader - 27 Oct'06 - 15:08 - 22765 of 22766


Hi Bengo, full story from egaming review:

Gaming Corp now known as Media Corporation
Gaming Corporation has changed its name to Media Corporation, and is selling both its online and mobile gaming businesses.
A company statement also showed a 400% profit after tax and a cash balance at the end of the year of 5.2m (US$9.8m), compared with 2.8m in 2005.

The company says that the Unlawful Internet Gambling Enforcement Act (UIGEA) has provided a positive environment for a sale given the companys 95% reliance on the UK for revenue, and nil US customer base.

Justin Drummond, chief executive at Media Corporation told eGaming Review that the company is looking for a buyer for is gambling businesses so it can concentrate on other avenues.
He said: Basically historically our profits came from advertising. Gaming Corporation probably wasnt the most appropriate name. We wanted a name which better reflects the business we have already been in.

The company name change was the result of a board meeting which took place on Thursday, though Drummond said that the name change had been pre-planned, before the UIGEA was signed.
He said: We have been planning to do this for a year. We have a search business, which we now want to roll out for travel and financial services, replicating the success we have had for the gambling sector. We also want to develop our general interest advertising agency.

Drummond was confident that the casino.co.uk brand, along with the other businesses, were attractive acquisitions.
He said: Casino.co.uk has a lot of potential in itself, but we are also selling our mobile gaming business, for which we have got contracts with, amongst others, Vodafone and Orange. We already have over 11,000 customers.

We have had it independently valued at 10m, and are already in discussions with potential buyers.
10m is from a very conservative growth forecast.

.

From that interview then we can knock circa of 20% off of earnings for last year and probably next year to get a revised P/E for the business, but we will also have more cash.

Right im off to the pub to think about this. Always find a gallon of Stella or more helps the mind.

Wait for me GF. Have a good one.

MS

Im buck. Now what are wi on abut.

Got this from the other side. The Directors are in big time. So if they feel good about the business so should other investors.

graylyn - 28 Oct'06 - 12:37 - 22778 of 22796


Largest Deals (365 days)

Traded Action Notifier Price Amount Value
23-May Buy Jason Drummond 11.71p 428,000 50,118.80
22-Jul Buy Jason Drummond 8.60p 300,000 25,800.00
23-May Buy Justin Drummond 11.71p 172,000 20,141.20
23-May Buy Paul A E Tuson 11.50p 170,000 19,550.00
21-Jul Buy Justin Drummond 8.40p 150,000 12,600.00

Director Shareholdings
Notifier Holding Value*
Jason Drummond 17,507,618 1,116,111
Michael Hill 9,200,000 586,500
Justin Drummond 7,922,000 505,028
Damion Greef 1,366,055 87,086
Peter Williams 785,836 50,097
Paul A E Tuson 310,000 19,762

mickeyskint-----about 14% ish of the co. then.
2517

Plus institutional holdings. Does anyone know how many shares are in free float.

MS

The new epic for this is now MDC.

MS

This could be bollocks make your own mind up, but they are trying to sell the gambling side of the business.


Red Dog - 2 Nov'06 - 11:35 - 2 of 2


My City friend says that there is a rumor going around the City that a deal will be put to bed within 3 weeks for GBP9,375,000. Not the GBP10,000,000 every body expects, but all the same a bloody good deal, which will in his opinion will move the share price much higher.

the directors havent put a bean in.

they sold millions worth of shares a ges ago, that cost them nothing.
Since then theyve put in the odd 10k here and there.

They are slippery as a slippery shite coverd in oil and handled with oily gloves!!

Tut tut!

yeah... but they will have their 5M or so of cash, plus the <=10M of sale proceeds, so anywhere between about 12M to 15M in cash alone.... plus what they are getting in cash for the current moment in time.... if you use the FY06 numbers; it equates to about 5.2-2.8=2.4M/4 = 0.6M per quarter... and from what i recall, the gaming part of the business was only marginal, so by getting rid of it, there should be no adverse effect on the portal/advertising side.... just have a look at the previous detailed Results etc....

although the website sale, may mean that they do some writedowns of the rather large 10M or so Intangibles that they have, so the profit might not be as high as one would expect - (but i think that these intangibles were due to purchase of gambling.com so perhaps no writedowns will occur)....

either way; they seem as though they will end up having about 5c/share in cash by New Years - plus the existing operations which are actually producing their internal annual cashflow. Now, with a current sp of 6p or so.... 'tis starting to look very rosey....
They obviously know what they are doing in regards to the portals/advertising etc, so it will be interesting to see what they venture into afterwards.

[assumption that was made = website proceeds to deliver cash.....]

A couple of posts from the other side.

batman9 - 4 Nov'06 - 15:49 - 82 of 96


From pressbox.co.uk - Added: (Tue Oct 31 2006)
Gambling.com targets non-US global expansion from strengthened financial base

London (31st October) - Online gaming portal Gambling.com has beefed up resources as it unrolls its strategy for growing its reach globally.

Having just reported record year-on-year after tax profit growth of 400% to 2.5m in the year to September 2006, Gambling.coms parent company Media Corporation plc has targeted accelerated international expansion, outside the US, as a key goal.

Listed on Londons Alternative Investment Market since May 2001, Media Corporation recently changed its name from Gaming Corporation to better reflect the fact that the Group generates all its operating profit from its portals and advertising businesses.

Its 40-fold growth in revenue from just 0.4 million in 2001 has enabled the Group to build a healthy cash balance that was over 5.2 million at the end of September.

CEO Justin Drummond said the cash in the bank and the very strong performance of the Groups media and advertising businesses during 2006 meant it was now well placed to grow both organically and via acquisition.

Mr Drummond said that the Group had recently taken on extra staff to drive Gambling.coms expansion through marketing, further refining the sites targeted search capabilities and ensuring that it maximises its presence in the global market.

In line with the company strategy of dominating search in specific vertical markets, our vision for Gambling.com is to encompass all our customers requirements in the most informative and efficient way possible whether theyre searching for online casinos, the latest sporting odds or hotels in Vegas, Gambling.com will help them find exactly what theyre looking for, he said.

Gambling.com is still evaluating the full implications of the recent US anti-gaming legislation and hasnt yet seen any definitive trends emerge in its traffic and click through rates in the past month. But it has moved quickly develop new functionality for the international search engine that allows advertisers to exclude US visitors from viewing their listings.

The site provides users with the most accurate results possible, because we have a strict editorial policy that ensures a keyword search will yield only what the user asks for, and not a list of marginally related, ad hoc sites, Mr Drummond said.

And Gambling.com advertisers get increased, pre-qualified, quality traffic.



batman9 - 4 Nov'06 - 18:49 - 83 of 96


NewswireToday - /newswire/ - Cape Town, Western Cape, South Africa, 09/27/2006 - Gaming Corporations proprietary search engine Gambling.com recently announced the launch of its first major Search Syndication contract with the Gambling.co.uk network.


Gaming Corporations proprietary search engine Gambling.com gambling.com recently announced the launch of its first major Search Syndication contract with the Gambling.co.uk network. The Gambling.co.uk network is a leading Gambling portal operator and is the owner and operator of a number of top tier portals including Gambling.co.uk, Poker.co.uk, Casinos.co.uk, lotto.co.uk and Vegas.co.uk.

Under the terms of the contract Gambling.coms search functionality will be integrated into the look, feel and navigation of the Gambling.co.uk network web sites on a revenue sharing basis. The Gambling.co.uk network currently generates over 500,000 targeted unique monthly visitors.

Gambling.coms Integrated Search enables Gambling portals to incorporate Gambling.com's pay per click search functionality into its website. The provision of search functionality will allow portal operators to retain visitors longer and so provide portal operators with the opportunity to generate additional revenues. The syndicated search function will enable consumers to seamlessly search from within the network partners branded environment because both the Gambling.com search box and the results are provided directly on the partners site.

Gambling.com has created an online search engine that introduces consumers and advertisers. Advertisers bid on search terms which are relevant to their sites and pay only for consumers who click on their listings after searching targeted keywords on which the advertisers have bid. As a result, advertisers pay for self-qualified leads rather than exposures to potential consumers, as with impression-based advertising, leading to a higher average revenue per visitor.

Gambling.com's Search Syndication Network builds on the highly successful affiliate Programmes operated by Overture and Miva.

Commenting on the first major Search Syndication deal Justin Drummond, Chief Executive of Gaming Corporation plc, said,

This is a major step in establishing the Gambling.com Search Syndication network. The Gambling.co.uk network generates a large volume of targeted Gambling traffic and this will significantly increase the number of searches conducted via Gaming Corps proprietary search engine.

The integration of our search technology transforms each network partner site into a stronger and more profitable destination. Our fully integrated Syndicated Search offering provides Gambling Portal Websites with a means of adding greater content depth and new sources of traffic and revenue to their site and I am confident that we will secure further contracts with other portal operators."

Lets look at the basics
5.4m in cash
5m at least for casino.co.uk and mobile gambling - company expects in the order of 10m
Share price now at 4.87p - company valued at 14m
Subtract (cash & casino)10.4m from 14m = 3.8m

3.8m for gambling.com / eyeconomy / search business.
Company should still make well over 1m profit from above business and it should have at least 10m to invest.