|Gaming Insight, the interactive TV gambling company, asked for its shares to be suspended from trading on AIM, the junior stock market, pending clarification of its financial position.|
Its shares, which traded as high as nearly 80p in early 2000, were suspended at 1.07p each. Gaming Insight owed more than £2.3m to creditors by the end of June 2002 according to its last published results when it held £276,000 in cash, before the proceeds of recent placings were added to the company's accounts.
In its interim results in September last year, Gaming reported a £6.2m net loss but said it had raised £2m in extra funding through a share placing to support a joint venture with Victor Chandler to develop a greyhound racing venture called Red Bet Racing.
The move, which saw the chairman Victor Chandler join Gaming Insight's board, was designed to secure the future of the company's GoBarkingMad digital TV greyhound racing channel.
Just two months ago, famous department store Harrods, re-launched its online casino after cutting ties with Gaming Insight, opting to go with the software group Kismet International instead, claiming “we felt it could be done better”.
In November last year, the leisure group secured a deal to supply its digital greyhound racing channel together with an on-screen betting facility to the Scandinavian broadcaster NSAB.