Casinos.co.uk: Casino News Archive
Tuesday 10th February 2004
Online casino provider says new $500k investment a big boost
Following Chimera Technology’s announcement that the company has secured an additional private placement equity financing of $500,000, analysts at Wall Street News are betting that Chimera is a hot company worth watching.
Chimera, a Nevada-based gambling software provider, develops and provides online bingo, casino, sports book, Internet casino games suite and pari-mutuel sports books wagering platform services.
According to the Chimera, the investment proceeds will go directly toward the rapid expansion plans of the company through business development and marketing efforts. In the company’s latest investor bulletin Chimera claims that online gamblers from the UK alone spent more than $6.4 billion in 2003, while US online gamblers spent more than $10 billion.
With Britain’s Gambling Bill expected to pass into law in 2004, making it easier for companies to run online casinos from the UK, online gambling revenues are expected to increase six fold in the coming years says Chimera.
Chimera President Ken Chua says, “We are incredibly pleased to announce that we have raised $750,000 in equity financing in only four weeks. Private placement investors are putting their money, faith and trust into long-term expectations of Chimera’s success. Nothing can stop us from reaching our business objectives in the lucrative online gaming industry.”
Source:OnlineCasinoNews
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