Gambit on Finance, Private equity vs Public market July 18, 2007

Leisure and Gaming has been a very popular sector for investment, mostly in gaming stronghold like Las Vegas, where continuously bigger and grander casino hotels are being built in the last 30 years or so. Therefore, it has traditionally been treated as 'real-estate' market as invariably most opportunities are capital intensive and long life-cycle projects, where most of the revenue are from rooms and entertainment.

There was a trend of new market being developed in the last few years as likes of 888.com and partygaming were listed. These were businesses with comparatively limited capital expenditure, and cash flow and profitability means that most of them do not need external finances. Some still wanted to be listed due to various reasons, some for expansion capital, some for partial exit for private owners etc.

Due to the regulatory changes in various jurisdictions, we can see that offline gaming firms are now focusing on growth markets like Macao, Western and eastern Europe. US and UK regulatory changes meant that a few gaming firms are either delisting or moving their online/remote gaming operations offshore. Some major US big brands like Las Vegas Sands/Venetian has gained their online gaming license (not accepting US bet) this year, does it mean that the market is changing/ or converging? does it mean that there will be more consolidation or public companies being brought back to private hands (for online gaming firms). Which way would it go?

Does it mean the basis of competition is who has the deepest marketing pocket? or would it be within certain gambling friendly (& tax friendly) jurisdictions only?

Speakers on the night:

Archie Watt, Director, KPMG

Melissa Blau, Global Leisure Partners

Charles Walker, MD, JPM International

It will take place at the Cass Business School:106 Bunhill Row, London EC1Y 8TZ

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Timing:

6:00pm Welcoming drinks, tea & biscuits

6:30pm Panel discussion commence

8:00pm Drinks & Networking

9:00pm Proceedings finished at the business school, further networking to a local club/bar

New Business model for 2007

Gambit was launched to bring value, trust and transparency to the sector and help us reach out and explain to Technology, Finance and media/ entertainment sector about our gaming gambling world. It has been free to attend since 2005 until end of 2006. 2007, we will commence charging but its mainly to cover our cost.

Logistics: 1) Once the gambit ticket(s) been purchased, 2) you will be sent a serial number per ticket. 3.) For each Gambit event, one set of serial number (previously not used ) would be required to register a proposed individual's name and company information at time of booking online or via email to [email protected], 4.) the named person registered can just turned up at the event. 5.) at the door tickets will be sold for £70 cash.

Click http://www.thegambit.info/Purchase.html to purchase annual membership (5 tickets) or more, or indeed for only one Gambit ticket (£50).

Exchanges and returns: Gambit tickets cannot be exchanged or money refunded, unless the registered event is cancelled, in that case, the serial numbers can be reused for future events.

Official Website: http://www.TheGambit.info