Miner takes a gamble

ANOTHER former minerals explorer has entered the dot.com game – as an online casino operator.

Perth-based Abador Gold Limited has acquired Vanuatu-based online casino operator My Casino and changed its name to My Casino Limited.

The company plans to relist on the Australian Stock Exchange shortly and implement an aggressive marketing plan targeted at the fast-growing market for online gambling in Asia.

My Casino managing director Gordon McIntosh said the junket and premium player sectors in the region would be the prime focus.

“The company’s management has more than sixty-five years of combined experience at senior executive level in the international casino industry – particularly in South East Asia – and we will have direct access through these contacts to the junket operators, agents and sub-agents responsible for most of the premium players and ‘high rollers’,” Mr McIntosh said.

The Internet gaming market has experienced explosive growth both worldwide and in Australia since legal Internet wagering began through NetTAB in 1997.

Industry sources said Internet gaming wagers in Australia were estimated at $1.2 billion in 1999 and could exceed $3 billion by 2002.