Version: 15012003
Editor: Franka Pals
Publisher: Novamedia
Disclaimer: Novamedia disclaims all liability for information provided within the "Novamedia European Gaming and Lottery Files".The information is supplied by independent journalistic sources. No parts of these files may be reproduced in any form by print, photo print, microfilm or otherwise, or re-distributed electronically in any form without written permission from the publisher.
Gibraltar, known as the city of Gibraltar, is the small (6 square kilometres) vermiform appendixin the middle of the Southof the Spain/Portugal (Iberian) peninsula, pointing at the north site ofAfrica's Morocco (Meeting Place of Continents). It is well known by its strategic geographical position, its off shore financial services, its apes on the Rock of Gibraltar and its fight to remain a British dependency. Gibraltar was ceded to Great Britain by Spain in 1713.
The Financial Services Commission (FSC) is the statutory body responsible for the regulation of the financial services industry in Gibraltar. The FSC is required by statute to match UK standards where EU legislation applies. Directives on financial services and other matters such as money laundering must be implemented in Gibraltar, as it is part of the EU via the UK's membership. Above that the Gibraltar Government agreed with the OECD committing to implement the principles of exchange of information and transparency contained in its Report on Harmful tax practices.
Gibraltar entered the EC at the time of the accession of the United Kingdom. It is among the European territories for whose external relations a Member State is responsible under Article 227(4) of the EC Treaty. Article 28 of the Act concerning the Conditions of Accession and the Adjustments to the Treaties (which concerns the accession of the UK, Denmark and Ireland) provides that there shall be certain exceptions from Community measures with respect to Gibraltar (the CAP, VAT and CCT do not apply). Subject to these explicit exceptions, all legislation adopted by the Community since 1973 has been applicable to Gibraltar.
| Population: | ,649 (July 2001 est.) |
|---|---|
| Age Structure | 0-14 years: 18.73% (male: 2,652; female: 2,528) |
| Currency: | Gibraltar Pound (GIP) (at par with sterling) 1 Gibraltar Pound = 1.63678 Euro 1 Euro = 0.61096 Gibraltar Pound 1 Gibraltar Pound = 1.44860 US Dollar |
| GPD | purchasing power parity - £434 million ( est. 2001) real growth rate: NA% per capita: purchasing power parity - £15,700 ( est. 2001) |
| Telecommunications Infrastructure | The Gibraltar Government has entered into separate joint ventures to enhance Gibraltar telecommunications infrastructure: Gibraltar Nynex Communications Ltd (GNC) is a joint venture Company between Verizon(formerly the American Bell Atlantic Corporation) and the Government of Gibraltar. The Company is responsible for the provision of local telephone services within Gibraltar and international calls to and from Spain. Gibraltar Telecommunications Ltd (Gibtel) is a joint venture Company between the Government of Gibraltar and British Telecom (BT), one of the world's major internationalcarriers, who operate Gibraltar's international telecommunications. The International Network is fullydigitalised. Both companies provide a full range of state of the art, digital, satellite, mobile and Internet communications services. The Government of Gibraltar believes there are significant opportunities for international telecommunications business to be undertaken from the Rock, especially in the expanding area of e-business. |
The Gibraltar Companies Ordinance is based on the Companies Act 1929 of the United Kingdom. Amendments have been made from time to time in keeping with the developmentof Gibraltar as a financecentre.
There are four possible types of company; a company limited by shares, a company limited by guarantee having a share capital, a company limited by guarantee without a share capital and an unlimited company. Only companies having a share capital can be exempt companies. There are also qualifying companies.
Company formation can be undertaken very quickly, unless more complex memorandums and articles are required. There is 0.5% stamp duty on authorised share capital with a minimum payment of £10.
Gibraltar law requires a minimum of one shareholder for a private company limited by shares, and at least seven shareholders for a public company.
A Gibraltar company can have a sole director. There is no concept of nominee directors.
Every company must have a registered office in Gibraltar at which the statutory books of the company must be kept.
All limited companies (except those which are non-profit making) are required to file accounts at Companies House in respect of each financial year commencing April 1 , 2000. This requirement follows the provisions of the EU fourth and seventh company law directives.There are, however, significant exemptions afforded to both small and medium sized companies.
Small companies are only required to file an abridged balance sheet. There is no need in the case of such companies to produce a profit and loss account or auditor's report.
Small companies must satisfy at least two of the following conditions:
Medium-sized companies do have to file a profit and loss account and auditor's report in addition to a full balance sheet, but the information in the profit and loss account may be abridged. Medium-sized companies must satisfy at least two of the following conditions:
Companies undertaking business with residents of Gibraltar have to prepare accounts for submission to the tax authorities, but these accounts are not available to the public.
Each company is required to submit an annual return to the Registrar of Companies which contains details of the shareholders, directors and the capital of the company. The information available atthe Registry, is open to public inspection.
Thecompany must holdanannualgeneral meeting of the shareholders and file an annual return containing details of the directors, shareholders and certain other details including capital structure.
The standard rate of tax for resident companies is 35%. There are however beneficial tax rates for Qualifying companies (between 0% and 35%) and Exempt companies (Fixed amount £225). A tax exempt company is not liable to income tax. There are no capital gains taxes, gift taxes or wealth taxes or estate duty in Gibraltar. No V.A.T. is payable in Gibraltar.
A Gibraltar tax exempt or qualifying company canbe fully managed and controlled from Gibraltar with a board of directors resident in Gibraltar without affecting its tax exempt status.
Gibraltar has no double taxation treaties nor exchange controls.
The Gibraltar 1992 Company was introduced to implement the requirements of the EC Parent/Subsidiary Directive. The main objectives of the Directive are to ensure that profits earned within the EC are taxed only once and eliminate fiscal barriers to cross border investment.
The Directive requires Member States to:
In accordance with this Directive, dividends received by a Gibraltar 1992 Company are exempt from further tax in Gibraltar. Other income received by the Gibraltar company will be taxed at the normal corporate rate of 35%.
In order to qualify as a Gibraltar 1992 Company, the company must:
The benefits of setting up a Gibraltar 1992 Company are:
There is no Capital Gains Tax in Gibraltar. It is perceived that the Gibraltar 1992 company will be particularly attractive to a non-EC parent as such a company can pay dividends to an individual or a corporate shareholder with withholding tax of only 1%.
Gaming licences, including internet gaming, are issuedby the Financial and Development Secretary on behalf of the Government of Gibraltar under the provisions of the Gaming Ordinance although there is no specific mention at present of internet gaming.
The Government is only licensing a limited number of operators.Licences are difficult to obtain because only applications from experienced operators, properly licensed in a reputable jurisdiction with an impeccable track record and good financial resources are considered.In addition, offshore licences operate on the basis that the advertising and promotion of betting services can only be directed to citizens of nations in which it is legal for such activities to be undertaken. Applications may be obtained via Tito Gomez, Senior Executive Director of the Office of the Financial & Development Secretary financialsec@gibnynex.gi.
Gaming tax is currently levied at 1% of turnover for bookmakers with the tax capped at £265,600 per annum as from 1 April 2001.The minimum gaming tax payable on the first year is £26,500 and in the second year and thereafter £53,000. With regards to internet casinos the gaming tax is calculated at 1% of the gaming yield (or drop) being the difference between the total amount staked and paid out taking into account chargebacks.
The minimum tax payable would be £50,000 for the first two years and subsequently £53,000 in line with bookmakers. The Gaming Tax and minimum payments will continue to be adjusted on 1 April each year in line with the UK Retail Price Index.
All licences are renewable annually on the payment of a fee of £2,000, subject to the satisfactory completion of the terms and conditions of the licence.
There are at present eight licensed offshore gaming operators, mainly bookmakers, actively operating in Gibraltar and one local or national Government Lottery.
Websites: www.ladbrokes.gi and www.ladbrokescasino.com
License: Bookmaking/Casino Ladbrokes.com is part of Ladbrokes Limited, the betting and gaming division of Hilton Group plc, the international hotel brand (New York Stock Exchange, Stock Quote (HLT).
Conrad Hilton purchased his first hotel in Cisco, Texas back in 1919. The first hotel to carry the Hilton name was built in Dallas in 1925. In 1943, Hilton became the first "coast-to-coast" hotel chain in the United States; and in 1949, opened its first hotel outside the U.S. in San Juan, Puerto Rico. Hilton went on the New York Stock Exchange in 1946, and Conrad Hilton purchased the Waldorf Astoria in 1949.
Hilton Group plc is a major international Company with two operating divisions. Hilton International, which carries the hotel brand, and Ladbrokes, 'the world's number one name in bookmaking'. The group was floated on the London Stock Exchange in 1967 with an initial market value of just under £1 million. Today, Hilton Group is one of the largest companies listed on the London Stock Exchange and a constituent of the FTSE 100 index. It has a market value of approximately £4 billion, a turnover of around £4 billion and employs more than 55,000 people worldwide.
Hilton Group's Betting and Gaming Division is one of the world's largest gaming providers with operations in the UK, Ireland, Belgium, the Middle East, South-Africa, USA and Latin America.The origins of the Ladbrokes names are to be found in the village of Ladbroke in the county of Warwickshire, England. It was here over 100 years ago that a local trainer of race horses and his friend set up in partnership as commission agents, initially to place, and subsequently to take bets on horse races.
Today they operate more than 2000 betting shops in the UK and Ireland and are market leaders in the UK. They are also a market leader in Belgium with 474 betting outlets operated under the Ladbroke Sportworld and Tiercé Ladbroke banners.Ladbrokes International operates tax-free telephone and internet www.ladbrokes.com betting services in Gibraltar, following its establishment there in 1993.
Hilton's Betting and Gaming division operates:
Ladbrokes, the betting and gaming arm of Hilton Group plc, is the world's leading bookmaker, employing over 12,000 people in its international retail, telephone and eGaming operations and it is at the forefront of a fast-growth £7 billion UK industry that is making strong progress in the burgeoning global market. The company is ideally placed to take advantage of the recent introduction of tax-free betting in the UK on October 6th 2001.
Ladbrokes'estate of over 2,500 high street and on-course outlets in the UK, Ireland and Belgium, together with betting facilities at 46 of the UK's top football stadia is the biggest retail presence of any bookmaker in the world.
Ladbrokes announced a two year £40 million investment programme to ensure that its stores continue to set the pace in in-store design andtechnology. Designhouse is responsible for the new concept store. The store, which cost £500,000 to design and build, includes terminals enabling custome s to check the latest sports news or bet over the Internet, as well gambling on virtual horse races.
The new stores will incorporate wood flooring and modern stainless steel and glass designs, as well as the latest plasma screens and interactive touch-screen betting terminals. Ladbrokes is also trialling instore coffee shops utilising Hilton's Café Cino brand. The stores will employ a fully trained barrista serving a wide range of coffee blends and Italian style snacks.
The only bookmaker to have advanced electronic point of sale (EPOS) systems throughout its retail estate, Ladbrokes is able to employ unique Easybet's lottery style betting slips on major events and to offer market leading levels of service and speed of payout. State of the art multi-lingual telebetting call-centres in London and Liverpool serve customers with instant betting on all the latest sporting action, as well as a comprehensive range of events from presidential elections to the Eurovision song contest and Miss World.
Since launching its internet service www.ladbrokes.com in February 2000, Ladbrokes has secured over 200,000 registrations. The site passed the million pound a week turnover barrier within a year of launch and is already achieving operating profit, well ahead of schedule. Offering multi-currency betting in English, Spanish, Italian, Thai and Cantonese the site attracts over one-third of its turnover from abroad with key markets including the Far East, Italy, Spain and Scandinavia. The majority of online turnover is derived from football with English Premiership, Champions League and Italian Serie A the most popular leagues for betting. Ladbrokes.com offers a wide range of betting and gaming opportunities including an exclusive numbers game 'balls' the world's first 'every minute' numbers draw. It also offers the highest payout of any scheduled numbers type game - up to a 95.8% theoretical payout. Irish lottery, pools betting and a range of pay to play Fantasy Leagues are also available. Ladbrokes is the only leading bookmaker to offer an integrated online casino.
Ladbrokescasino.com offers instant access to 38 games including nine varieties of Poker, Keno and 19 different slot machines including progressive slots offering large prizes. A more extensive 51 game downloadable version of the Casino is also available which includes blackjack, multi-hand blackjack, power poker, roulette, baccarat and craps. In interactive television
Ladbrokes was the first company to launch a betting via interactive TV during 2000 and has established interactive betting services on ITV Digital, Telewest and NTL all of which are experiencing rapid growth.
Hilton Group also owns the Vernons football pools business which is one of the two major participants in this market and is the market leader in standing entry football coupons.
'Footballpools12x' is the essential guide to playing the British and Australian Football Pools all on one site. Playing The Pools Online, one can play Vernons Pools via the Ladbrokes website and Littlewoods Pools through their Bet247 site. One can also play Zetters Pools online.
Website: www.trevia.com
License: Bingo/ Keno plus othergames Trevia.com is business partner of Progona.com. Progona.com acts as a web portal in which amongst other partners site you can find Trevia.com. Trevia.com is a Gibraltar company dedicated to Internet gambling with its headquarters in Gibraltar.
Trevia.com operates under Netgame license granted by the Government of Gibraltar. License terms require independent Custodian Trustees to be appointed to pre-empt any financial involvement from operators.
Netgame Ltd was a subsidiary company to Interactive Gaming Systems BV inIGS is mostly known for its TV-lotteries, Bingo- Lotto,Zesam and Cash Back, but also for its site on the Internet, Casares.com.
IGS business started with BingoLotto at a local TV-Station in Gothenburg and then became the Swedish Eklund Group. In April 2001 the Swedish BingoLotto in Sweden was takenover by Dutch Novamedia, the charities lottery group (a.o. operator of the National Postcode Lottery and the Sponsor-Bingo Lottery in the Netherlands, operator of Goodlot.com, shareholder in Uzbekistan's Ecolot and 50 percent shareholder in the EarthFutureLottery.com in Canada).
BingoLotto Sweden had a turnover of 350 million Euro in 2000. Over 2.2 million BingoLotto tickets are sold weekly via sales outlets in Sweden only. (Sweden has a population of 9 million.) Youth sports clubs sell between 40,000 to 50,000 tickets weekly. From those sales, 40 percent goes directly to those clubs. Forty percent of the ticket sales benefit good causes in Sweden and 48 percent of the turnover is prize money.
The exact price for Novamedia's takeover has not been disclosed by the two parties involved. However, news media in Sweden mentioned the amount of US$10 million. Casares.com was founded in March 1996 with, Interkeno as their first game on the Internet, where one has to pay for playing. Casares.com offered their members, from 170 different countries, more than 20 games for free or at charge.
For example "Interkeno"and "Kenoexpress", bingo games like "Bingo express", "Bingo express Plus" and "American Bingo", card games like "Poker Solitaire", "Instant Poker" and "Roman Poker", slot machines like "Centurion Slot", "Triple7" and "CENT Slot", dice games like "Casares Craps", and scratch lotteries like "Who Knows".
In August 2000 Trevia.com took over Casares.com. Trevia.com relaunched their operations with a whole new site with updated and easier navigation, more games and new looks. Trevia.com has more than 120,000 members.
Trevia.com is constantly involved in charity work. The work of charity is organised by The New World Foundation.
Bingo Game
Card Games
Roman Poker
Dice Game Roman Craps
Slot Games
*Play for free.
Website: www.winodds.com
License: Bookmaking
Winodds.com, RockGame Ltd entity, is based in Gibraltar and operates under a license granted by the Government of Gibraltar. The company is dedicated to online entertainment and Internet gambling since 1995. Today they operate inodds.com and Trevia.com as partners of Progona.com. Progona.com is an E-commerce portal and includes on-line payment service. Progona.com stands for entertainment on the Internet. However, the focus of Progona lies in providingservice and on-line security for its member: Progona Universe. Progona guarantees confidentiality and secure payments to its members:
Sportsbetting products:
Websites: www.victorchandler.com and www.thespinroom.com
License: Bookmaking/Casino/Pools.
The Victor Chandler Business and its associated companies, headquartered in Gibraltar and with offices around the world, offers international online and telephone sports betting opportunities and web-based gaming in several languages.
Since 1995 when Victor Chandler first opened a tax-free betting operation in Gibraltar, and 1999 when all account operations were moved there, growth and expansion have been swift andsuccessful. The company is already the biggest private employer in Gibraltar, and has spent more than £10 million on its infrastructure, attracts more than 150,000 customers worldwide and in 2001 could boast a monthly turnover in excess of £50 million.
Customers range from those who enjoy a relatively small gamble on their favourite TV sport to some of the biggest players in the world. The range of betting opportunities offered them and the volume of bets taken daily is enormous, and these are backed by sophisticated and comprehensive online operating system with a multilingual team of staff.
Betting and gaming opportunities offered around the world cover all major sports including football, horse racing, golf, greyhound racing, rugby, cricket, snooker, NFL, NHL, NBA, college football and baseball. In addition, VCI launched its first online casino in 2001 The Spin Room and plans to launch 12 new gaming products worldwide by mid-2002. The group's operations are all supported by considerable investments made in leading-edge technology, some of the most experienced business managers in the industry and a wealth of creative talent.
Ladbrokes Casinos including:
All accounts are managed in Gibraltar where call centre staff are available to take customers through the entire process, quickly and easily, from opening an account, checking and accepting bets, answering queries and arranging settlement.
Nine separate languages are spoken fluently here. They include Cantonese, English, Italian, Korean, Malay, Mandarin, Russian, Spanish and Thai. Of the online casino staff, many hold the prestigious British Gaming Association License. In total, in Gibraltar, Hong Kong and the UK, the company employs around 350 fully-trained personel. In 1999 the company's staff numbered just 30.
At the heart of the organisation is the company's custom-designed Betting Operating System, developed in-house which offers clients worldwide free telephone and online access to a wide range of betting and gaming opportunities in the world. It's multilingual and capable of handling every sport and every permutation of casino gaming and sporting bets.
The switchboard, manufactured by Nortel and the largest model available, has capacity for up to 10,000 extensions and is geared to offer hundreds of connections via the UK to the rest of the world. At its busiest on Saturday afternoons, it currently handles several thousand calls daily of which most are from the UK, although some 25 - 30% come in from the Far East.
The system is digital and allows for all calls to be monitored both for training purposes and for security. There's also a support team of engineers available 24 hours a day and an independent generator capable of providing 48 hours of back-up power. Seventy miles of cable are connected directly to the switchboard.
The Victor Chandler Group are dynamically expansionist in an industry that offers considerable scope for growth on a global scale. Several joint ventures have already been launched, including one with Gaming Insight to develop worldwide greyhound racing products via websites and satellite TV and another with Korea's largest pools operator to develop betting and gaming products ahead of the 2002 World Cup which will be jointly hosted there. New online casinos are planned and the company is actively searching for the right partners to which it can add its gaming expertise and infrastructure.
The company continues to exploit the rapidly expanding Far East and Asian markets. These, with Russia, Greece and Malaysia, all offer considerable potential for the development of gambling on greyhound and horse racing, basketball, football and baseball in particular. The group is also poised to take full advantage of emerging platforms including 3G and Interactive TV.
Ultimately, however, the Group has a single and single-minded vision for the future. It is to reach out to every country and offer the widest range of products, delivered by the most sophisticated systems, backed by the finest customer service in the world. And at the heart of this will always be the values that distinguish the company: honour, integrity and the pioneering spirit's.
Website: www.eurobet.com
License: Bookmaking/Casino
Eurobet was founded in the early 1990's and in 1995 became the first company to begin offering odds on the internet. Eurobet has a fully international service with thousands of customers from over 100 countries worldwide. In December 1999 Eurobet merged with Coral, and since then the company has grown further and is now recognised as being one of the leading global bookmakers.The range of products and services include:
Coral Eurobet is one of the oldest and most respected bookmaking firms in the UK. Founded by Joe Coral in 1926, the company has grown and achieved great success through product innovation and service. They are extremely proud of their stringent levels of high customer service and pride themselves on being the world's favourite bookmaker.
Coral Eurobet manage over 860 shops throughout the United Kingdom, and operate one of the leading telephone betting services in Europe. They also run one of the biggest online betting services in the world with Eurobet, and 2 modern greyhound stadia in Romford and Hove. Coral Eurobet plc has been owned since February 1999 by funds associated with Morgan Grenfell Private Equity Ltd., the UK venture capital subsidiary of Deutsche Bank. The group comprises the Coral UK betting shops and telephone betting businesses and Eurobet's international and UK online sports betting businesses and two Greyhound Stadia.The corporate headquarters is based in Barking, Essex. In 1998, due to an ever increasing list of non UK based clients they expanded to Gibraltar where their license enables them to provide the same quality of service with the added advantage of not having to charge clients any UK betting taxes!
Website: www.stanjames.com
License: Bookmaking
Stan James, founded in Oxfordshire, has been operating as a licensed bookmaker in the United Kingdom since 1973. Now they operate a chain ofBetting Offices in England. Since 1990 Stan James have been at the forefront of the sports betting market and today have one of the largest betting call centres in England. In 1998, due to an increasing list of non UK based clients Stan James expanded to Gibraltar.Website in English only.
Website: www.simonbold.com
License: Bookmaking/Casino
Simon Bold (Gibraltar) Limited was incorporated on 1st December 1999 and has been granted a licence, by the Government of Gibraltar, to operate telephone and internet betting facilities. The Management of Simon Bold (Gibraltar) Limited each have over 25 years of experience in bookmaking, and have been involved in both telephone and retail betting in the UK. Managing Director Simon Bold was responsible for introducing betting by debit card in 1989 through his UK based company, Mawdsley Bookmakers.
Now resident in Gibraltar, Simon continues to follow developments in UK racing and betting closely, and is Vice-Chairman of the British Betting Office Association.The company has launched an online betting website based offshore in Gibraltar, which offers tax-free facilities to customers on the internet.
Horse Racing
Acceptance
Wagers are accepted for all meetings under Jockey Club and National Hunt rules. Simon Bold also accept bets for horse racing in Ireland, France, USA and from time to time other countries, provided the race information is published in the Racing Post.
Each-Way Betting
On all each-way wagers at starting price and board price, the following place terms apply:
Greyhound Racing
Acceptance and Maximum Payouts
Simon Bold accept bets on Greyhound races (subject to maximum payouts) at all tracks where the full form and results are published in the Racing Post.
Football Betting
NFL
In all American Football markets overtime does not count, except for Tournament Betting purposes.
Rugby
Penalty tries do not count for first tryscorer purposes. Extra time does not count, except for Tournament Betting purposes.
Motor Racing
The formation or warm-up lap is part of the race. Podium position counts and all subsequent disqualifications will be ignored for betting purposes.In the event of a Grand prix race being suspended or postponed it is deemed void, unless the race is resumed within 72 hours.
Head-to-Head bets on drivers withdrawing from the competition prior to the start or not present to the first start are deemed void.If two drivers abandon the race after completing the same amount of laps, the spective head-to-head bets are deemed void.
Cricket
In the top batsman and top wicket-taker markets if a player is not in the named team of eleven then is deemed a non-runner and stakes are returned.In the event of a drawn match, all bets will be deemed void.
Tennis
If a bet is placed on the winner of a tournament who later fails to take part, the bet is considered lost. A tennis match that ends in a walkover is declared valid as long as at least the first ball of the match has been played. The winner is always the player that has either been confirmed the winner by the match referee, or wins the tournament.
All 'set bets' that were placed on this game will be declared void and all stakes will be returned.The special bet 'Who will win the first set' will be acknowledged as valid if the players stepped onto the court and at least the first set was completed. If this is not the case, then all the stakes will be lost. If a match is suspended or postponed and not resumed and completed within72 hours, it is declared invalid.
Head-to-Head Game Bets
The winner of these bets is the player who wins the most games after comparing two players in the same round of a tournament. It is not important whether one of the two players wins or loses his match. For purposes of this bet, only the games won by each player are counted (a tiebreak is counted as a game). The bet 'Who will win more games' will be valid as soon as the first ball of the match is played.
If one of the matches that are used in the evaluation of this bet is declared forfeit then all stakes on the head-to-head game are paid back. Head-to-Head game bets are only offered on singles, any doubles will not be used to calculate the bet. The bet is always based on the appropriate tournament round (e.g. Round 1, Round 2, etc)
Simon Bold Limited is a member of the betandwin Gaming Group. Betandwin Gaming Group was set up in December 1997 and has been online since March 1998 with the sports betting platform www.betandwin.com. In December 2001, a 100% subsidiary went online with a casino platform, www.triple-a-casino.com.
Company's Structure The Company' s Structure
Shares
Betandwin.com Interactive Entertainment AG is presently being restructured in order to meet future requirements. As parent company, it will hold majority stakes in its subsidiaries, betandwin International Ltd. (currently Simon Bold (Gibraltar) Ltd.), betandwin.com Interactive Entertainment und Vertriebs GmbH as well as betandwin Italia SpA.
Shares
The shares are non-par voting bearer shares each representing EUR 1.00 of the registered capital.
Trading segment/Listing
Official trading/ ATX-MID-CAP/ Vienna Stock Exchange;The trading procedure is continuous with an opening and closing auction. Underwriting syndicat:
Key data
Registered capital: EUR 5,550,000.00 (before capital increase);
EUR 10,526,000.00 (after capital increase and IPO).
Repurchase announcement by betandwin.com
As has already been announced, betandwin.com laid the groundwork for the distribution of sport bets through terminals at the beginning of August 2001 with the acquisition of SKP Sportwetten. The management is planning to increase offline presence through betting terminals and enable new customer groups to access its sport betting theproduct.Thebetandwin.com management believes thatoffline distribution has an especially good chance in countries with a lowInternet penetration rate. TheEU is expanding eastward and market liberalisation is steadily increasing in the Eastern European democracies.Market growth in these countries can thus be predicted.
OMV is Austria's largest public industrial company, with a petrol station sales network, which encompasses approximately 1,200 petrol stations in Austria, Central and Eastern Europe OMV is Austria's largest public industrial company, with a petrol station sales network, which encompasses approximately 1,200 petrol stations in Austria, Central- and Eastern Europe.
Manfred Bodner, Co-CEO betandwin.com on the formation of the partnership: "We are continually expanding our international reach and as such we were looking for a partner with access to a wide network of highlyfrequented points of sales. In the sense of maximum customer orientation, we are convinced that a high level of service, the infrastructure of the VIVA convenience store and the friendliness of the personnel will be key to our success. We feel that the co-opera tion with OMV covers all these requirements".
Mag. Roland Wolk, head of marketing OMV: "Petrol stations have long since become multifunctional: quick shopping, baked goods, flowers, newspapers, auto maintenance centres, fast food and now betting terminals as well. Our petrol station partners could no longer live off the sale of fuel and oil alone. The shop usually accounts for nearly half of income. We therefore analyse the profit potential of future activities very carefully. These activities must live up to the expectations of both our petrol station customers and those of the partners. There were many favourable reasons for betandwin.com, such as the successful introduction of their brand, the positive image associated with betandwin.com, their extensive experience and the exceptionally well structured Internet presentation with a range of bets to satisfy every customer. In addition to increased turnover, we expect increased visitor frequency in our shops".
Website: www.demmysportsbet.com
License: Bookmaking
Established 1926 for over 75 years in Manchester, the company is now amongst the leading Internet bookmakers and has a worldwide client base. They offer tax-free betting from Gibraltar, on a comprehensive range of Sports and Horseracing, and pride themselves on customer service. New clients placing bets to the value of £25 or more will qualify for their £25 Free Bet Offer and will be entered into their Free Draw to win a Mercedes Benz. You can be assured that your account is secure and confidential when you bet with Demmysportsbet.com
Website: www.gibraltar.gov.gi/about_gib/lottery/ lottery_index.htm
The Gibraltar Government Lottery was founded after World War II to service a loan used to finance the construction of new housing for the population that had been evacuated. The first draw was held in October 1947. Current estimated annual sales for the Gibraltar Government Lottery are £4.5 million.
Beneficiaries go to the National treasury of Gibraltar. Non-residents are permitted to buy lottery tickets and there are no currency restrictions.
This conventional passive game consists of 24 draws per year. Of these, 21 are regular bi-weekly draws, at a ticket cost of £10 (divided into 10 shares of £1 each). First prize for the regular draws is £100,000. For each draw, 20,000 tickets are issued, with 23 winning numbers drawn. Overall odds are 1:8.32.
The remaining three are special event "Bumper" draws with higher ticket costs and larger first prizes. The July Bumper Draw, usually held on the first Monday in July, costs £20 per ticket, with a first prize of £250,000. Ticket issue for the July Bumper is 25,000, overall odds of winning are 1:7.8, and 35 winning numbers are drawn. The biggest draw is the Christmas Draw, held the week before Christmas. Tickets cost £20 and the first prize is £500,000. Ticket issue for this draw is 50,000. The third bumper draw is the "Three Kings," held at the beginning of January. Tickets cost £20 and the first prize is £200,000. Ticket issue for this draw is 20,000.
A typical Government issued ticket: Tickets are also eligible to win more than one prize, e.g. a ticket matching the first four digits of the first prize number and the last three digits of the second prize number would win both prizes.
Prizes
Prize return is among the highest anywhere, averaging 77 percent. In addition, one ticket can win multiple prizes. Winnings are not subject to tax.
Government Lottery Prize Structure
First prize: £100,000 / 1:25,000 / 1x
Second prize: £10,000 / 1:25,000 / 1x
Third prize: £5,000 / 1:25,000 / 1x
Minor prizes: £500 / 1:833.33 / 20x
Minor prizes: £50 / 27x
Minor prizes: £30 / 57x
Minor prizes: £20 /297x
Minor prizes: £10 / 1999x
Numbers before and after 1st prize number:
£2,500 / 1:12,500 / 2x
Numbers before and after 2nd prizenumber:
£250 / 1:12,500 / 2x
Numbers before and after 3rd prize number:
£100 / 1:12,500 / 2x
Numbers before and after 4th prize number:
£50 / 1:12,500 / 2x
Numbers before and after 5th prize number:
£25 / 1:12,500 / 2x
First 4 digits match
first 4 digits of 1st, 2nd, 3rd, 4th or 5th
prizes: £100 / 1:555.55 / 45x
Last 3 digits match
last 3 digits of 1st, 2nd,3rd, 4th or 5thprizes:
£50 / 1:208.33 / 120x
First 3 digits match
first 3 digits of 1st, 2nd,3rd, 4th or 5thprizes:
£25 / 1:50.5 / 495x
Last digit matches
last digit of 1st prize:
£20 / 1:10 / 2,499x
Series of 25,000 tickets