|European online gaming group, BetandWin.com Interactive, has issued a statement to reassure its investors following market rumours regarding the ‘volatility’ of its shares. The company, which runs several European casino and sports betting platforms, categorically denies that there have been any ‘unusual events’ that could affect the price of their shares or that any of its directors have sold shares in recent months.|
The company asserts that, on the contrary, things look rosy for shareholders. Last month it reported positive financial results with an overall turnover increase of 89%- up to EUR 184 million compared to the same quarter last year.
The statement reads: “Contrary to isolated rumours on the market, as far as the development of the company is concerned, no unusual events have occurred to date that might invalidate the statements made at the press conference immediately before the Annual General Meeting and at this year's Annual General Meeting itself, or the facts published in the quarterly reports.
“The current quarter is developing better than the company anticipated due to the successful acquisition of new customers in the second quarter of 2004...BetandWin has issued 150,000 new shares that were approved for official trading on the Vienna Stock Exchange on 20 August 2004.
“This capital increase was made from authorised capital by the exercise in May 2004 of performance-dependent management stock options. After this increase, the equity capital of BETandWIN.com Interactive Entertainment AG now stands at EUR 12,200,950. Details of this stock option award were published in the Wiener Zeitung on 3 June 2004 in compliance with the Companies Act. These options are in no way connected with the expiry date of the call options issued by RCB. The co-CEOs have not sold any BetandWin shares in recent weeks.