Issue 307
July 31 - August 4, 2006
Volume 6
page 1
 

This Issue

Gaming News

Casino City's July Sweepstakes

South Coast Casino to be Sold

McCain Bill Hits Snag

Biloxi Mayor Vows to Veto Casinos

Oregon Tribal Casino Gets Congress' Approval

Show Time Rita Rudner performs at New York-New York's Cabaret Theatre.

Column Does the RNG Control Free Spins Too? by John Robison.

Check out our entertainment highlights & upcoming tournaments

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BETonSPORTS Responds to Media Reports
Press Release

LONDON, England -- BETonSPORTS plc., having noted the recent media reports from various outlets in both the UK and the U.S. wishes to make the following statement:

BetonSports plc (referred to as the Company) acquired the various businesses comprised in the group immediately prior to its float in July 2004. Other than David Carruthers the Board of directors, both executive and non-executive directors, was appointed at or subsequent to the float and are not named in the indictment.

Since the time of its public listing, the Board believes the Company has operated in accordance with the standard expected of a U.K. Plc which is publicly quoted on AIM on the London Stock Exchange. The Board wish to make absolutely clear that none of the founders of the original business has any continuing role within the Company. As disclosed in the AIM document, the original founder has a consulting agreement with the Company under which his role is non-management related which was an absolute requirement of the Board for the float and thereafter.

Some media reports have focused on alleged improper activity occurring at the group's Costa Rican business premises during VIP parties and other events. All these allegations relate to the time prior to the acquisition of the business by the Company and its July 2004 float.

The Board wants to assure the investment community, employees, and customers of the Company that they, in consultation with the Company's attorneys, are evaluating all of the Company's options and deciding what steps will be taken next. Once a decision is made in this regard a further statement will be released. The Company wishes to express its appreciation to its employees, customers, investors and partners for their patience and support during this process and will issue further information as soon as possible.


South Coast Casino to be Sold

Press Release

LAS VEGAS – Boyd Gaming Corporation last week announced that it has reached an agreement to sell the South Coast Hotel and Casino to Michael Gaughan for a purchase price equal to the net proceeds from the sale of approximately 15.8 million shares of Boyd Gaming stock owned by Mr. Gaughan. A minimum of 75% of the purchase price will be paid to the Company in cash, as a result of a secondary stock offering by Mr. Gaughan during the next 60 days.

The transaction, which is expected to be completed by the end of the year, is subject to a minimum purchase price, the deposit by Mr. Gaughan of the cash portion of the purchase price in escrow within 60 days of today's date, customary licensing and regulatory approvals, and other closing conditions.

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