Capital Raising/New Contracts

RNS Number:0708U
Gaming Insight PLC
5 April 2002

Date: 5 April 2002

Enquiries:

David Sanderson, Chief Executive
Gaming Insight Plc                       tel: 020 7929 5599

John Bick, Holborn                       tel: 020 7929 5599


                              Gaming Insight Plc
                              ("Gaming Insight")

                £1 million capital raising and new contract wins

Gaming Insight ("the Company" or "the Group"), the digital media rights and
interactive gaming company, today announces that it has secured a £1 million
fundraising via the issue of convertible loan notes and new contract wins for
the Group's new casino software.

Summary:

  • Secured fundraising via the issue of £1 million of convertible loan notes

  • Casino division launches new interactive 3D virtual reality software

  • Casino division signs agreements to launch online casinos for Alta Vista
    and Marco Pierre White brands 'The Mirabelle' and 'The Stork Rooms', using
    the new 3D software

  • Interactive TV gaming division secures German broadcasting licence

Capital raising

A successful capital raising of £1.0 million through an issue of loan notes has
been secured on the following key terms:

  • The loan notes will become convertible, following shareholder approval, at
    a conversion price of five pence (or the subscription price at a subsequent
    fundraising if lower)

  • A 5% coupon with interest payable on a quarterly basis

  • The loan notes are repayable on 31 March 2005 and are subordinated to the
    creditors of the Company

A further £725,000 of loan notes will be issued on the same terms as described
above to settle in full the outstanding balance of an existing loan to the
Company from Ajabo plc, a company associated with Nigel Robertson, the Company's
Chairman.

The additional capital, together with the profits from the casino division, will
be used to fund the launch of gobarkingmad, the multi-platform interactive
gaming channel, which has already achieved improved operational efficiencies to
reduce its ongoing overheads.

The Board, resolving without Nigel Robertson who is a related party for the
purposes of the AIM rules, having consulted with the Company's nominated
advisor, Nomura International plc, believes that the terms of the capital
raising and the conversion of an existing loan onto the same terms as the loan
notes under the new capital raising are fair and reasonable insofar as the
Company's shareholders are concerned.

Casino Division

The Group's new interactive 3D software has been developed to offer a virtual
reality casino environment and a gaming experience superior to the existing
two-dimensional products currently available. It can also be tailored to mirror
the Group's partners brands and enhance their on-line presence.

The casino division has also developed a new casino, dicehouse.com, which has
already signed agreements with AltaVista.co.uk.  AltaVista is one of the
Internet's premier search networks with 3.4 million UK users and over 20 million
European users each month.

A contract has also been signed to provide Marco Pierre White's latest club, The
Stork Rooms, and restaurant, The Mirabelle, with the Group's 3D casino. The two
casinos will have the same look, feel and atmosphere as the venues themselves
allowing casino players the opportunity to experience the style and
sophistication of two of London's premier venues at StorkCasino.com and
MirabelleCasino.com.

The casino division is currently operationally profitable with turnover up over
300% year on year to in excess of £12m, (18 months to 31 December 2000: £3.75m)
and has performed at record levels in quarter one of this year.

Interactive TV Gaming Division

The international roll-out program for the business has begun with the securing
of a broadcasting licence for all platforms in Germany.  The interactive TV
management team has made good progress in reducing the operational cost base of
gobarkingmad.

The idTV application continues its final stages of development in the run up to
its launch on BSkyB's digital TV platform.

Commenting on its progress, Tobin Ireland, Commercial Director at Sky
Interactive, said:

"The GBM idTV application is in its final stages of its development and we look
forward to it going live on the Sky digital platform soon."

David Sanderson, Chief Executive of Gaming Insight, said:

"The Casino division is performing very strongly and is attracting new
commercial partners that should continue to drive customers into this growing
business.  Having also secured additional funding announced today, we are in a
strong position to take the gobarkingmad channel through final testing through
to its launch on Sky Interactive's digital TV platform."

Notes to Editors:

Gaming Insight plc is listed on the AIM market (L: GIN) and was established to
create the premier casino and sports gaming group on internet sites worldwide.
Its subsidiary companies are: gobarkingmad Limited, ZapCasino, and
Racing-Network.co.uk.

ZapCasino.com was launched in 1999 and is played on the Internet in over fifty
countries. Games include Poker, Baccarat, Roulette, slot machines and scratch
cards in eleven languages. ZapCasino.com is the first on-line casino to be
insured through a Lloyds of London broker and has a maximum insured payout of
US$8 million.

gobarkingmad will shortly launch a 24-hour a day 7 days a week greyhound racing
channel over the Internet and interactive television. Gobarkingmad has already
acquired exclusive Internet and interactive television and mobile telephone
broadcasting rights from greyhound tracks across the world, including the United
Kingdom, United States of America, Australasia, Asia/Pacific, Europe and Africa.
Following the contract with Sky Channel gobarkingmad can now schedule over
100,000 greyhound races per year.

Racing-Network.co.uk was launched in May 1999 and is a dedicated horse racing
betting advice service for enthusiasts worldwide. With a British Horseracing
Board licence, Racing Network provides daily horse racing declarations for
British racing, trainers, jockeys, jockey weights together with a form guide for
each horse declared to run.


                                     -ENDS-



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