SYDNEY, July 12 Asia Pulse - Internet gaming firm Betcorp Ltd (ASX:BCL) says it expects its first half earnings will be ahead of market expectations and it also plans to delist from the Australian Stock Exchange.
Betcorp today said overall gross revenue from players in the first half of 2006 was $US22.0 million ($A29.49 million), 75 per cent higher than for the previous corresponding period.
"The group expects to report earnings for the first half 2006 slightly ahead of market expectations on 15 August 2006," it said.
Betcorp also announced it would delist from the ASX, in favour of its listing on the London Stock Exchange's Alternative Investment Market (AIM).
The sports betting company listed on the ASX in May 1999 and was admitted to AIM on March 17 this year.
"Since (the) company was admitted to AIM, however, it has become clear that there is insufficient liquidity in the company's shares to support two stock exchange listings and the cost of doing so is excessive for a company of this size," Betcorp said.
Betcorp said around 47 per cent of its issued share capital was held outside Australia and the board believed that the interests of shareholders would be better served by delisting from the ASX and moving its primary listing to the United Kingdom.
Betcorp also said it had completed the $US9.76 million ($A13.08 million) acquisition of Oasis, a telephone and internet sports betting and internet casino based in Curacao, Netherlands Antilles.
(AAP) 12-07 1005
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