World Gaming in £2.5m float

Gambling software provider World Gaming is seeking to raise up to £2.5 million at 52.5p for an AIM float on 17 May.

Small company adviser Daniel Stewart is advising World Gaming on an AIM flotation, anticipated to value the business at £19.2 million. Chaired by venture capital lawyer James Grossman, the company, which has strong links and a joint venture with AIM leader Sportingbet, supplies software around the world that, it claims, allows clients to create, manage and maintain successful online gaming destinations.

World Gaming is the result of a reversal into former Canadian dotcom play Starnet Communications. Starnet moved out of providing ‘adult entertainment’ sites after they had attracted the attention of the Canadian authorities six years ago.

Now, chief executive officer Daniel Moran and finance director David Naismith, both former Sportingbet luminaries, are steering the company, which is active in video poker, black jack and online sports bets.

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio... More by Leslie Copeland