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.

Paulo2, there was some suggestion on this thread some time ago that the purchase of a Casino would not necessarily be a good thing. IMO Internet gambling is the way forward. London Clubs gave poor indications in its trading update reported in Yesterdays Times stating that its LOndon Flagship, Les Ambassadors on Park Lane ' had suffered a fall in business as Arab and Asian punters who are many of the worlds biggest high rollers stayed at home during Ramadan which started in October.'
Hopefully these punters will stay at home playing Virtual Casino on their mobiles or Websites.
What do you think about the Purchase of a Casino?

I just hope they are not stupid enough to do that. I signed up for Internet gambling, but the fact is this guy has a casino background. When I e-mailed Justin Drummond a month ago asking him if he was looking to buy a casino he didn't reply. Perhaps if we all e-mail him over the next few days he'll have to reply to one of us.

Sorry, forgot to mention the rumour I heard was that not only were they going to buy a casino but it would also be placed into private hands. Therefore this appointment has me a little concerned.

Has anyone managed to glean any more info on this issue - do you honestly think it will be damaging to GMC's prospects - or are we misinterpreting this news?

Any feedback would be great

Chiva.

Seems to be another 'string on the bow' for GMC. William Grimes has an impressive CV, albeit in 'real' casino's, and an ammount of experience that can only be beneficial for an expanding company.
Large casino's will always attract the wealthy and well-heeled. However, online is where the largest population of recreational gamblers lie. GMC knows this and seem to have appointed a director with perhaps the required knowledge to take them to the next level. I would be surprised if they would risk aquiring a casino premisis at such an early stage of development. All imo.
tau.

From the other place mrkournikova.

Hi,

I dont think people have quite grasped the significance of the gambling bill and why it is such great news that it has been passed.

It states that any online casino operating within the UK must be registered as a UK company, and subsequently locate its servers within the UK. Furthermore the company will be required to use a UK web address for its gambling site, ending .co.uk

The bill will prohibit offshore and unlicensed casinos advertising in the UK. Arguably this means that casino.co.uk is the most valuable web address in the world, since the UK will become the worlds largest regulated online poker and casino market. The only destination for gamblers who wish to gamble in a properly regulated and licensed market will be the UK.

Expect to see casino.co.uk advertised on a worldwide basis before too long. It would appear as though the acquisition of got2bet.com will provide Gaming Corp with a platform in the USA through which to advertise casino.co.uk.

Best Wishes,

Mr K

Paulo and Bankone has this appeased your concerns at all?

It seems to me that this new director could be valuable for his contacts as well as his casino experience. New opportunities often come from WHO you know!!
Very happy holding this one to see what the year brings.

Just had this e-mailrd to me and its from the t1ps.com site from Evil Ks own board..................................................


Just slightly concerned about the latest appointment to the board. Heard a rumour that the Drummonds want to buy an actual casino which would then be placed in private hands leaving shareholders to pick up the pieces when the SP tumbled.

Of course, if that happened it would be a fantastic shorting opportunity for EK, if he closed his long position at exactly the right time, which I wouldn't be surprised to see happening. Anyone else got any thoughts? ENDS.

Beware tread carefully if this as any truth to it.

Be carefull on this one re - to above item.

cheers GF.

Providing they don't use GMC money then it's up to them. They can't use company money and go on a personal spending spree. There's instutional money here so what would they say about it bearing in mind the Drummonds only hold a minority holding. If they can and do well I'm gone.

MS

MS - see you got a bashing on the other side. Trouble with that lot is that the majority of them think they are Gordon Gekko and if they don't agree with you they just slag you off rather than come back with a constructive argument. Far more reasoned posts on this side :-)

I guess we're just going to have to wait for the interims to get some movement on this.

Im losing faith in this,JB...

Are we experiencing knicker twisting here? First of all, Casino buying is a rumour. If the Drummonds want to buy a casino they can do so if they have the personal funds to do it. Secondly, Directors are employed by the company they work for i.e. GMC. If the directors are majority voters, they can decide what GMC wishes to do with GMC funds, thats why they are directors. Now how anyone can comment that acquiring a casino establishment is bad for GMCs sp is beyond my understanding. Any company expanding its business and diverting into additional revenue streams, especially parallel to existing business profile, can only impress on the quality of that company. Take a look at Richard Branson. When the airline industry suffers due to increase in fuel and competition for passengers, he can be assured he has Virgin Money and his mobile business to balance the books. Can anyone explain to me the difference between having a diverse portfolio (which we all should have)to hedge against market risk opposed to investing in a company that has diverse interests which automatically protect against different market trends? There is no good answer because there is no difference. By taking on a casino, GMC benefits when legislation cannot decide which to support, casinos with member ID requirement and no financial scrutiny (i.e. money laundering) or internet gambling with no membership requirement but financial security by way of debit/credit card transactions(card owners must be 18yrs old, have a bank account etc). If the government supports both, GMC is quids in both ways. The only downside to the above which could cost shareholders interests is when such a company invests in another resource in which it doesnt have expertise. This is when the company has to be prudent and buy in the expertise like someone who knows the industry. Enter William Grimes.
Im sorry, I cannot see anything to worry about here, maybe someone can educate me.

I don't have a problem with a company having a diverse portfolio and agree with your comments. What I do have a problem is the phrase" Then be placed in private hands". Now to me that means the Directors are thinking of using share holders money to buy assets to be held by a 3rd party. What is meant by private hands. This does concern me and further clarification is required, if it happens at all.

MS

Im told no comment from Evil on his thread refering to the post. He usually replies or as posts wiped. Rather suspicious.

cheers GF.

Opps won't do that again. Just got a slagging off from the other place. Looks like I wandered into their playground. Jackthetrader should change his name to Jackthetosser, much more appropriate.
Results due 14th and EGM 29th to request authorised share capital be increased by and other 100 mil shares. Now why would they want to do that so soon after the last lot of 71 mil.

MS

Rather suspicious why GF, ???

Yes why GF and do you know the track record of the Drummond bros and the other people at the top.

MS

So can we assume that Evil's price of 60p has been forgotten for the time being? I'm beginning to think Dil may be right to pull his money out until September time as we maybe in for a flat summer. Anyone else thinking of taking profits?