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June 1999
Europe

14th June  Sweden  Source: Press release

    Boss Media the Swedish company that includes internet Casinos, USA Casino & New York Casino has had its initial public offering of 65 million SKr. ($7,650,000 USD) sell out.
    Public and private investors in Sweden purchased all 1,800,000 common shares, around 18% of the company. The company's stock will be listed on the Stockholm Stock Exchange's O-list for trading approx., June 24, 1999.
Major Interest in Boss Media's Initial Public Offering
 

12th June   London  Source: Various, company report.


    London Clubs International unveiled what for shareholders was a dismal set of annual results. Profits down from £27 million to £12.5 million with only £1.6 million of that coming in the last six months.
    Reasons given were the extra tax burden, Asian economic crisis and the extraordinary run of "luck" by Middle East and Asian players in February at 50 St.James, where hold had dropped to 9%.
    Mr Goodenough, chief executive, said there were only 50 or so wealthy gamblers playing in London casinos, and all were from abroad. "There are no English high rollers". He also said he was "not overly concerned about the position", because in the longer run the casino's win percentage should revert to normal.
    It was also disclosed that the company is planning to invest a further $25.5m to cover additional costs at the Alladin in Las Vegas in which it has a 25% stake.

   Turnover fell from £168m to £144m. Earnings per share fell to 5.8p compared with 13.6p. The share price also understandably fell 5½p to 139½p.