Internet Gambling Technology Providers Raise Cash

INTERNET GAMBLING TECHNOLOGY PROVIDERS RAISE CASH

20th November, 2010 at 01:54:36
Source: http://www.azonlinecasinos.com

Parlay Entertainment and Probability have both been involved in shares-for-cash deals this week

Two well known names in the online gambling technology sector, Canada's bingo specialist Parlay Entertainment and UK mobile gambling provider Probability plc, have been raising cash through private placements this week.

Parlay closed a non-brokered private placement, raising $320,000 by issuing 800,000 common shares at a price of $0.40 per share. The company, who primarily create games for online casinos and gaming platforms, reports that it will use the new finance for general working capital purposes. The common shares are subject to a hold period expiring March 18, 2011.

Probability has confirmed the placing of 4,600,000 new ordinary shares, raising 2.3 million, which will be used to accelerate the company's expansion in the UK and in newly regulated European markets.

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