GGK Gamingking

RNS Number:4361S
Gamingking PLC
10 October 2005



                                Trading Up-Date
                                October 10th AGM


Whilst it has not been the practice of Gamingking to provide a trading up-date
at the AGM, preferring to wait until the Interim results, I would like to break
with tradition and provide you with a trading overview.

Our financial year commenced with the strategically important acquisition of
Kelly's Eye (No 10) Limited as we pursue our goal of becoming a total supply
chain manager to the register members club marketplace. Post the acquisition we
immediately embarked upon a programme of integration, designed to achieve
maximum commercial and cost benefit from the bringing together of Lotteryking
with Kelly's Eye. The integration plans have gone well and with effect from
November 1st all sales and financial functions will be centred on Hemel
Hempstead, leaving Hainualt to focus on technical services, manufacturing, and
research & development.

Revenues for the year to date have exceeded #1.7m which is a modest increase on
the collective revenues for the same period last year but at the operating
profit level there is a marked improvement over last year as a result of
improved efficiency and cost controls. The anticipated benefits of selling a
much broader product range across a network of some 5,000 clubs is now beginning
to be evidenced. The introduction of a new, all embracing product catalogue,
will undoubtedly help stimulate additional sales and furthermore, traditionally
the second half of the year is always much stronger than the first half. The
company is constantly in search of new products to help broaden its offering to
clubs.

In recent months members of the Board have visited over 80 client clubs where
the merger of the two companies has been warmly received and where the support
for an integrated supply chain management service was unequivocal.

All costs are fully under control but we continue to explore avenues for cost
saving, allied to the maximising of our resources. Our cash reserves remain
strong but we will however, use up a modest amount of cash as we pursue one or
two small investment opportunities to strengthen our position in some key areas
of the country.

Now whilst growing today's core business is of critical importance, we are also
seeking to pursue other initiatives that will lead to the future onward
development of the company. These new initiatives, some of which are on display
today are:-

Tote-All - an efficient electronic system for the running of totes in clubs. The
Tote-All system can also be linked between any number of clubs via a company
designed GPS system. Such technology will allow us to offer clubs the
opportunity to operate a linked lottery in a highly cost effective manner, which
is something in which many clubs have expressed interest. Tote-All is already
successfully on trial in a number of northern-based clubs and the plan is to
populate clubs with Tote-All on a region-by-region basis over the course of the
next 12 months.

Games Warehouse - Games Warehouse and Gamingking have entered into a commercial
arrangement that will allow the company to supply the Paragon 2 terminal into
clubs and other venues. The Paragon 2 is a high quality, electronic touch screen
terminal for the playing of a wide array of Skills With Prizes (SWP) games,
popular in clubs and pubs.

Club View Network - this is our in-house designed web site for individual clubs
and club members. Not only is it a comprehensive club information zone but it is
also designed to become an on line, electronic ordering system for the clubs and
an e commerce and on-line game play site for club members in their homes.

Your Local Lottery - the 2005 Gambling Act, as it applies to lotteries, harbours
a number of potential commercial opportunities but it will not be law before
September 2007. Not wishing to allow this interval of time to elapse before we
can pursue some of these opportunities, your Board has presented to the Gambling
Commission a lottery concept that would permit the vending of lottery tickets in
pubs. The concept, which will rigidly adhere to the 1976 Amusement Act, has met
with Gambling Commission sanction and so we will now move quickly into trial
mode.

A number of these initiatives that we are pursuing are designed to take us one
step closer to the club member.

Overall, our strategy is to enhance shareholder value, a strategy that I am sure
you would all whole-heartedly endorse. Critical to achieving this is the ability
to present and articulate a coherent and plausible set of commercial objectives
that the investment community can relate to and wholeheartedly support. As a
prelude to this we have as of today appointed Seymour Pierce as our brokers and
also as our Nominated Advisors, replacing Seymour Pierce Ellis and Smith &
Williamson respectively. On behalf of the Board I would like to express our
sincere thanks to Seymour Pierce Ellis and Smith & Williamson for their very
professional and loyal support over many years but we feel that the time is
approaching when we need to heighten the awareness of the company and alert a
broader audience to our aims and ambitions and we anticipate that these changes
will help achieve this.

All the resolutions put to shareholders at the AGM earlier today were duly 
passed.


Douglas Yates
Chairman
October 10th 2005




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGMMGMMGZGMGKZM

Gamingking (LSE:GGK)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Gamingking (LSE:GGK)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024