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.

what about the us advistors paying gmc?! for website useage!

GMC have now decided to advertise Poker.casino.co.uk on gambling.com - it is the 3rd in a list of 87. Aimed at the North American market as it is all in dollars.
http://casino.gambling.com/Poker/SearchResults.cfm?SID=1

See Herald Investment have been building a stake.

seems a bit of a shame to be selling the mobile gaming business...i thought that was a good thing!

http://www.investegate.co.uk/imarticle.aspx?iid=351047

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

derwent-------thanks for that, very interesting and positive article some buying going on now let's hope it continues T&G analyst sounding quite upbeat, I'm sitting on a loss atm but things looking better now.
2517

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