|World Gaming plc (OTC BB: WGMGY), a global provider of I-gaming|
software and services, has announced the appointment of David
Craven to the position of Chief Executive Officer, bringing
stability and experience to the company's top position. Mr. Jim
MacKay who held the position on an interim basis stepped down to
make room for Craven's appointment.
'David brings an unparalleled e-commerce and gaming track record to
the position,' the company said. 'He is a hands-on business builder
with a reputation of getting the job done. With his appointment,
the company is in very capable hands.'
David Craven is the founder and former CEO of 24dogs, an Internet
and Digital TV greyhound racing business owned by global gaming
giant Wembley Plc. In its first year, he took the company from a
start-up position to an organization with 20,000 customers, pounds
Sterling 11 million in gross revenue, and a valuation by Merrill
Lynch of pounds Sterling 125 million.
'I have been watching World Gaming for some time and feel very
comfortable in saying that there are significant opportunities
before us,' said David Craven. 'My mandate is to build an
organization that can sustain a substantial leadership position in
the industry, while providing shareholders an appropriate level of
return. Given the company's solid revenue base, the strong support
expressed by our top customers, the experience of our employees,
and a product and service suite that is second to none, we possess
all of the necessary ingredients to deliver on this mandate.'
The company also announced that it has retained new legal counsel
and auditors. The firm of Berwin Leighton Paisner has been retained
as legal advisors, and Baker Tilley as auditors.
'The renewal of these key business partnerships is vital to
ensuring the highest level of accountability among key stakeholders
and shareholders,' said Craven. 'Berwin Leighton Paisner was chosen
for its extensive experience in the betting and gaming sector,
including international betting and gaming compliance, and Baker
Tilley for its sports and media expertise, and impeccable
David Craven moved from an award-winning career in journalism into
the world of the Internet in 1994 with the launch of the UK's first
online tabloid newspaper The Daily Record and Sunday Mail.
Subsequently, he launched Europe Online, followed by LineOne, a
consumer Internet service from News International and British
Telecom, and then NetChannel, the UK's first TV set-top box
Internet service. He was a founding member of European start-up
Chello Broadband where he developed and launched the first
Pan-European broadband Internet service, as well as defined and
deployed Interactive TV services including a betting channel for
Chello Broadband parent UPC.
'Despite a strong revenue base, the company must aggressively look
to contain its costs,' said Craven. 'We are scrutinizing every
expense to ensure that we have our priorities right. We are also
preparing for what we believe will be record transaction volumes
this fall during the peak sportsbook season.'
About World Gaming plc
World Gaming plc is a pioneer and leader in I-gaming software and
e-commerce technologies. World Gaming is an international
developer, licensor and provider of the industry's most
comprehensive offering of online gaming products, including casino,
sportsbook and pari-mutuel betting. The Company powers more than
750 Web sites with over 250,000 active accounts worldwide. For
more information about World Gaming, visit the company's Web site
David Doze, Vice President
Goodman Communications Inc.
416-924-9100, ext. 222