Gamingking no longer TheBiz
Lottery operator TheBiz.com, one of the last remaining dotcoms on Aim, today became the latest firm to ditch the now infamous suffix, changing its name to Gamingking to reflect 'a clear and unambiguous change of strategy'. Elliott Davis reports.
Cynics could argue that the change effectively leaves Gamingking back where it started two and-a-half years ago. At the time the company existed as pure lottery business Lotteryking, changing tack with the acquisition of Web-based information portal the Business Information Zone (BIZ) in March 2002.
Finance director Guy van Zwanenberg is more positive. He argues that Gamingking is now in far better shape than it was 30 months ago, even though the old Lotteryking business is once more central to the group. He claims a 66 per cent increase in lottery-related operating profits last year as evidence of this.
Van Zwanenberg also notes that, while mistakes have been made, much has been learnt (on the technology front) from BIZ. Moreover, he says that today BIZ is cash-neutral and still in operation.
Gamingking will now focus its efforts on taking advantage of 'upcoming opportunities in the gaming industry'.
This latest change of name means only five dotcom companies remain on Aim, a number likely to reduce further in the near future. Former e-commerce venture bizzbuild.com is a cash-shell awaiting a reverse takeover, while the board of StartIT.com yesterday reiterated comments that it is considering all options, including members' voluntary liquidation.
Gamingking shares remained unchanged at 0.8p on the day.