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Billy keeps quiet

 

Most companies have a skeleton or two in the closet but none as colourful as Betcorp's association with its cornerstone shareholder William "Billy" Scott.

 

 

The former Toledo, Ohio, bookmaker, convicted racketeer, and alleged friend of the Detroit Mafia back in the '70s, cost the online bookie its licence to operate in Australia when the Herald revealed his involvement in Betcorp's management.

 

Betcorp's chairman, chief executive, and other senior people all walked the plank after a dismal performance by the company.

 

Apparently its largest shareholder wasn't happy.

 

Still, it could have been worse. We understand the Detroit Mafia had completely different methods for dealing with underperforming investments and colleagues. These days, Scott is a "committed and supportive shareholder and has no involvement whatsoever in the management of the business", Betcorp chairman David Hudd said.

 

Scott has distanced himself geographically at least from the Antigua-based Betcorp business. He now lives on the Caribbean island of St Martin.

 

Scott has started up a new sports betting business based in Taiwan and also has a casino business in Antigua.

 

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Betcorp bounces back into black in 2005

Email Print Normal font Large font February 14, 2006 - 1:49PM

 

Gaming company Betcorp Ltd has made a "very good" start to 2006, after bouncing back into the black last year.

 

Betcorp has reported a $US4.3 million ($A5.6 million) annual net profit for 2005 under the new international accounting standards, up from an $US8 million ($A10.87 million) loss in the previous year.

 

Chief executive Colin Walker said he was "delighted" with the turnaround.

 

"The year finished with poker, casino and sportsbetting all at record levels of activity," he said.

 

"Meanwhile, 2006 has started very well and has reversed the sports margin trends experienced in the fourth quarter of 2005."

 

ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚© 2006 AAP

 

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Betcorp betting a change is on cards

John Lehmann

15feb06

 

ONLINE bookmaker Betcorp hopes to convert sports punters who gave it a bath during the American football season to more conventional - and profitable - games such as internet poker.

 

Betcorp, which is based in Melbourne but runs its websites from Toronto and Antigua in the Caribbean, outlined a strategy yesterday to convince more sports punters to broaden their gambling tastes.

The blueprint, which would reduce its exposure to the volatile sports betting market, was unveiled along with a 150 per cent rise in net profits to $US4.3million ($5.8 million).

 

The company said clients playing poker and casino games lost an average of $US2003 last year while sports punters only lost an average of $US698.

 

Betcorp chairman David Hudd said the company hoped to reduce its reliance on sports betting - which accounted for 64 per cent of its gross revenues - by "cross-selling" poker and casino games.

 

Betcorp takes no risk in poker games because its income is generated by charging a percentage fee on each pot played.

 

"Our current expectations are that sports betting will account for approximately half gross revenues in 2006," Mr Hudd said. "This change will increase the predictability and quality of our earnings."

 

Betcorp took a bath from gridiron punters in the last quarter of 2005, when a string of heavily backed favourites won games in the lead-up to the Super Bowl.

 

Overall, Betcorp's sports book still produced a 12 per cent rise in gross revenue to $US18.8 million over the year. But gross revenues from casino games increased by 87 per cent to $US6.9 million while gross revenues from poker games exploded from $US200,000 in 2004 to $US3.6 million.

 

Betcorp expects online poker, which is undergoing a surge in popularity around the world, to contribute 25 per cent of the company's revenues this year.

 

Betcorp shares rose 2c to 43c. http://www.sharescene.com/html/emoticons/wink.gif

 

 

 

 

 

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BetHoldem Player Brian Jensen Wins $250,000 at WSOP Tournament in Atlantic City

 

 

ST. JOHN'S, Antigua, March 3 /PRNewswire/ -- Danish poker player and

BetHoldem.com customer Brian Jensen finished in second place at a recent World

Series of Poker (WSOP) event, pocketing almost a quarter of a million dollars

in prize money after four days of hard-fought competition.

"It's a dream come true," said Jensen. "I still haven't realized what kind

of money I've won, it feels unreal."

Jensen entered the final day of competition as the chip leader, which

affected his strategy. "My tactics were to play it tight and not risk all of

my stack unless I had a really good hand," explained Jensen. "But Abe (winner

Abraham Korotki) knocked out the other three players, so by the time we got to

heads up, he had three times as many chips as I did."

Jensen, a 30-year-old stockbroker, earned his way into the tournament by

qualifying in BetHoldem.com's "Fearsome Foursome" promotion. This innovative

tournament gives three lucky BetHoldem.com customers the chance to be a part

of an exclusive group of four players -- including Poker Room Manager and two-

time WSOP contender Alex Jagodik -- representing BetHoldem.com in six world-

class WSOP Tournaments across the U.S.A. Visit

http://www.betholdem.com/fearsome.asp for more details.

Jensen, who has been playing poker online for four years and live for one

year, credited BetHoldem.com with helping pave the way for his success.

"It's a great place to play," he said. "They have everything from small to

big tourneys and cash games and there are always a lot of players to play

against. The satellite I won was a $100 rebuy with only 20 players, so they

also have tourneys with great value.

"We played a team of four players, all from BetHoldem (Fearsome

Foursome)," added Jensen. "It was great, because we talked together and gave

each other moral support. Alex (Jagodik) was there all the time cheering,

supporting and playing as a team member. We had a great week in Atlantic

City."

For more information on qualifying for the "The Fearsome Foursome," please

visit http://www.betholdem.com/fearsome.asp .

 

About BetHoldem.com

Betholdem.com is a full-service online poker room, which operates on the

PrimaPoker network, one of the largest online poker networks in the world.

Fully licensed and regulated in St. John's, Antigua, BetHoldem.com offers a

complete suite of poker games, including Texas Hold'em Poker, Omaha, Seven-

Card Stud, Five-Card Stud and 1-On-1 Poker. BetHoldem.com has positioned

itself in one of the fastest-growing markets in the gaming industry by

providing an exceptional product, unparalleled 24/7 customer support and

timely payouts. BetHoldem.com is a proud member of the BetCorp group of

companies, which is the third-largest wagering company by turnover listed on

the Australian Stock Exchange (ASX) under the symbol BCL. With over ten years

of experience, the BetCorp Group offers a complete range of online gaming

products and more than 150 betting options daily through its portfolio of

companies and managed services -- BetHoldem.com, WagerOnSports.com,

Cybersportsbook.com, BetBet.com, BetCasino.com and BetWWTS.com.

 

Web site: http://www.betholdem.com

 

 

 

SOURCE BetHoldem.com

Web Site: http://www.betholdem.com

 

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Bemusing BCL, 'investors' will pay 47c+ for a non-dividend paying stock but post consolidation all of a sudden won't pay $4.10.... must be too dear now! The under 50c in Feb was so much cheaper than the over $4 now http://www.sharescene.com/html/emoticons/devilsmiley.gif

 

The psychology of the market amazes me.

 

cheers

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Online gamer Betcorp jumps on AIM float

Fri Mar 17, 2006 1:27 PM GMT

 

 

LONDON (Reuters) - Shares in online gaming company Betcorp (BCL.L: Quote, Profile, Research) jumped nearly 8 percent on Friday as the provider of Internet sports betting and games such as poker became the latest gambling group to float in London.

 

Betcorp is already listed in Australia under the symbol (BCL.AX: Quote, Profile, Research) but said it was coming to the UK partly because its shares were undervalued compared with some of their London-listed colleagues.

 

In Australia, the stock trades on a multiple of 19.2 times historic earnings, compared with 27.6 for British blue-chip rival PartyGaming (PRTY.L: Quote, Profile, Research) and 22.3 times for 888 Holdings (888.L: Quote, Profile, Research), according to Reuters data.

 

Chairman David Hudd added he expected online gamers in London to be at the forefront of corporate activity in the sector and that Betcorp was "determined to play a leading role in industry consolidation".

 

By midday, the stock was up 7.9 percent on the AIM market from an opening price of 251-1/2 pence, giving it a market value of over 53 million pounds.

 

Betcorp's initial listing level was set by converting its Australian share price into sterling. In Sydney, the stock closed at A$5.90 on Friday.

 

Brokerage KBC Peel Hunt is acting as nominated adviser and broker to Betcorp. http://www.sharescene.com/html/emoticons/wink.gif

 

 

 

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London IPO For Online Casino Gambling Firm

LONDON FLOAT FOR AUSSIE ONLINE CASINO, SPORTS & POKER GAMBLING COMPANY BETCORP

 

Betcorp augments its Australian listing with a London IPO

 

Shares in online gambling company Betcorp Ltd jumped nearly 8 percent this week as the provider of Internet sports betting and online poker and casino games became the latest gambling group to float on the London AIM.

 

Betcorp is already listed in Australia but spokesmen said it was coming to the UK partly because its shares were undervalued Downunder compared with some of their London-listed competitors.

 

Betcorp is a broadly based online gaming group offering customers worldwide a comprehensive range of betting and gaming products including sports betting, casino games, poker and skill games, all using a shared purse facility. The Group's betting, IT and marketing operations are based in Antigua, West Indies and Toronto, Canada and the company holds a gaming license in Antigua and a bookmaker's license in the UK.

 

Sports betting is offered to customers around the world via a number of websites, including BetWWTS.com, CyberSportsBook.com, BetBet.com and WagerOnSports.com.

 

Betcorp customers are also offered a wide variety of casino games with a traditional Vegas style 'Betcasino' brand supplemented by the 'Thunderbolt' brand, emphasising speed of play. Casino players share a similar customer profile to sportsbook customers and a third casino, Lucky Lady, is due to be launched soon, to appeal to this mainly male client base.

 

Poker is the group's fastest growing online game. Launched in September 2004, Betcorp's brand Betholdem.com has grown to be one of the top five members of Microgaming's Prima Poker network. Cross-selling represents an additional major opportunity in this area as there is a high propensity for poker players to cross over to other products - in 2005, 48 percent of the Group's poker customers also placed a bet in the sportsbook.

 

Betcorp has also introduced to all of its sports websites a suite of skill games developed by UK operator GameAccount, specifically targeting the recreational sports bettor. These include backgammon and gin rummy which have already proved an effective marketing tool, particularly in North America where they are subject to fewer advertising restrictions than sports, casino or poker.

 

Betcorp's strategy is to build on its expertise and established presence as a "one-stop shop" for customers to participate in a wide range of online gaming activities. Shared purse technology will enable revenues to be increased through cross-selling, further reinforcing the attractions of the multi-product model. While sports betting is currently the Group's largest business, increases in casino and poker revenues mean that management's current expectation is that sports betting will account for approximately half of the Group's total gross revenue in 2006 (2005: 64 percent).

 

The group currently reports financial results in US dollars, as the majority of its revenues are derived in this currency. For calendar year 2005, Betcorp achieved gross revenues of US$29.4 million on betting turnover of US$825.0 million and a profit after depreciation, interest and taxation of US$4.3 million.

 

By midday Friday, the stock was up 7.9 percent, giving it a market value of over GBP 53 million ($93 million).

 

Brokerage KBC Peel Hunt is acting as nominated adviser and broker to the company.

 

BCL closed GBP 274.13 = AUD $6.62 http://www.sharescene.com/html/emoticons/wink.gif

 

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Data as of 18 Mar 2006 7:29 GMT http://www.sharescene.com/html/emoticons/wink.gif

 

Symb Company. Last Chg. Chg. %.

 

BCL.L BetCorp. 271.5 +271.50 0.00. = AUD$6.62

 

BCL.AX Betcorp. $5.94 +0.04 +0.68.

 

PRTY.L Partygam. 122.5 +1.50 +1.24.

 

888.L 888 Holding. 182.5 +2.50 +1.39.

 

 

 

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