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GWIN Inc. Announces Record-Setting Second Quarter with 100% Increase in Operating Profits and Plans to Enter Poker Market Business
Published: 2005-03-09
 GWIN Inc. Announces Record-Setting Second Quarter with 100% Increase in Operating Profits and Plans to Enter Poker Market
Business Wire, March 9, 2005
LAS VEGAS -- GWIN Inc. (OTCBB: GWNI) announced today its second quarter results which include an 100% increase in operating profit. For the three-month period ending Jan. 31, 2005, revenues were $2,721,666 compared to $2,459,410, an 11% increase over the same period in 2004, and the operating profit improved by 100% with a three-month operating profit of $231,306 in 2005 compared to an operating profit of $116,341 for the same period in 2004. Due to a one-time non-cash financing charge, the net loss increased to ($372,683) from ($10,855) in the year-ago comparable period.
According to Wayne Root, chairman and CEO of GWIN Inc., "We are very pleased to report these record-setting results. Both revenues and operating profits have rebounded strongly following a first quarter that was clearly affected negatively by the theft of our database and the consequential improvements made to our network security, which we reported in previous filings. Even more positive is that this trend of increasing numbers is continuing. As a follow-up to the record-setting month of January, the company broke records once again in February 2005 for revenues, leads and new clients, a trend that bodes well for a strong third quarter (due out June 15, 2005).
"Ours is a business where it has been necessary to make substantial upfront investments in branding, customer awareness and in building a television, radio and Web audience, all with the intent of accumulating and maintaining a client database," added Root. "We are finally seeing all of our efforts and investments pay off in a very rewarding manner. Revenues are steadily increasing, our customer close ratio is much improved, customer acquisition costs as well as operational costs are down across the board and operating profitability is being achieved.
"Our plan moving forward is to, within the next 12 months, establish an international presence through soccer, cricket and rugby handicapping advice to be offered in multiple languages. We are also preparing to launch horse race handicapping advice for the first time in company history, opening up an entirely new revenue stream that we expect will be highly lucrative. And finally, we intend to capitalize on the worldwide poker explosion by moving rapidly into the poker business internationally and capitalizing on the No. 1 brand name in gambling," said Root. "The future looks bright for GWIN and our shareholders."
About GWIN
GWIN Inc. is America's only publicly traded sports handicapping company. GWIN specializes in developing and marketing sports handicapping advice and information via television (The Winning EDGE(TM)), radio, and the Internet (www.WinningEDGE.com).
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Online Gaming's Regulatory Body, eCOGRA, Supports State Poker Bill
Published: 2005-03-07
 Online Gaming's Regulatory Body, eCOGRA, Supports State Poker Bill; 'We Can Help,' Says Chief Executive, Andrew Beveridge
PR Newswire, March 7, 2005
LONDON, March 7 /PRNewswire/ -- The news that a key Bill seeking to legalise online poker in the state legislature of North Dakota is making good progress has been welcomed by the online gaming industry's regulatory body eCommerce and Online Gaming Regulation and Assurance ( http://www.ecogra.org/ ).
The CEO Andrew Beveridge commended Representative Jim Kasper for sponsoring the legislation, which now moves to the state Senate for hearing on March 8.
"North Dakota is setting an important state precedent by introducing legislation that will protect players of this popular card game through sound and enforced regulations, and has the potential to make significant contributions to the state economy through taxes and operational presence on U.S. soil," he said.
Beveridge went on to reveal that eCOGRA has recently completed extensive studies of viable online poker regulation in order to add enforced online poker regulation to its services. "Three of the top seven poker operations (as rated by PokerPulse.com) have already started our eGAP inspection process, which is being carried out by one of the world's leading audit firms," he said.
"Player protection is key to the industry's success. Players can feel safe in the knowledge that gaming is fair, payouts are timeous and customer service is superior on all sites certified by eCOGRA. eCOGRA is now well experienced in designing and applying effective regulation of gambling operations through rigorous assessment by internationally recognised audit firms. This verification applies currently to fifty one online sites that handle much of the international online gaming market. eCOGRA would be delighted to share its knowledge with state legislators to further this process." eCOGRA is already involved with a number of online gaming jurisdictions, sharing knowledge about practical and effective regulatory requirements and the methodologies required to ensure effective monitoring.
Gambling regulation has traditionally been the prerogative of individual states in North America, a right that has been jealously guarded despite occasional interference from the federal government. The governor of this progressive state is reported to support the Bill.
The eCOGRA CEO drew attention to comments made earlier this year by eCOGRA independent director Frank Catania. Addressing the National Council of Legislators from Gaming States, the former director of the New Jersey Division of Gaming Enforcement observed that 82 jurisdictions worldwide provide some form of regulation for various types of Internet gaming.
He said, "The ability to do real time auditing makes regulation easier and more efficient than the systems currently used by the terrestrial casino regulators. State-of-the-art technology, combined with proper operating procedures, has proven effective in preventing minors from gambling online and in combating money laundering. "This form of gambling cannot be stopped, but it can be effectively regulated and taxed. State legislators in Illinois and Georgia recently introduced bills to permit the online sale of lottery tickets."
Optional Note for Editors:
eCOGRA is a non-profit, non-partisan body with a full time staff in London, England. Founded by major online software and casino operator groups in 2002, the organisation spent some time researching the concept of regulation with experts throughout the world before formulating a practical set of requirements essential to fair and efficient gambling operations, together with an independent inspection and monitoring system for enforcement.
Approved casinos are identified by a Seal, and commit to a set of professional operational practices which are independently enforced through inspection and monitoring by major international business groups. The infrastructure includes a Fair Gaming Advocate for any player disputes that cannot be resolved at casino level.
The North Dakota Bill passed the state House on February 16 and now moves to a hearing in the state Senate in the regional capital Bismarck on March 8. If it passes, it will position North Dakota as a leader among American state jurisdictions, regulating the industry to protect players and generating important taxes. It could set a precedent and open the door for the first time to online poker operations based on U.S. soil, with positive effects for local economies.
CONTACT: Andrew Beveridge, CEO of eCOGRA, +44 20 7887 1480, pr@ecogra.org
Web site: http://www.ecogra.org/
COPYRIGHT 2005 PR Newswire Association LLC
COPYRIGHT 2005 Gale Group
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