WESTON, Fla. March 3, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Chimera Technology Corp (Pink Sheets:CNOC), RCN Corporation (Nasdaq:RCNC), Edge Petroleum Corp. (Nasdaq:EPEX) and Petroleum Development Corp. (Nasdaq:PETD).
Aggressive investors will want to watch Chimera Technology Corp (Pink Sheets:CNOC) this morning! Yesterday after the markets closed, the company issued a press release announcing the addition of a casino games platform to complement the company's world-class sports book wagering platform! The casino games platform is scheduled for launch in the next 60 days and will include blackjack, roulette, craps, pai gow and slots, among others.
This could be more great news for investors! The addition of a comprehensive casino games platform further entrenches Chimera Technology into the explosive growth industry of online gambling. In the company's investor bulletin dated Jan. 20, 2004, Chimera reported that U.K. residents spent more than $US6.4 billion in online gambling in 2003, while residents of the United States spent more than $US1.0 billion. More importantly, as a result of Britain's Gambling Bill expected to pass into law in 2004, making it easier for companies to run online casinos from the United Kingdom, global online gambling revenues are expected to increase six fold in the coming years.
Chimera President Ken Chua stated, "The Chimera team has worked incredibly hard to deliver our upcoming casino games platform. Staging, testing and debugging is a crucial process for any software company planning to launch new products and Chimera is no different. We would not be making this announcement if we were not 100% confident in the performance of our software. The scheduled launch of our casino games platform will provide a big boost to our current licensees and sales to new licensees."
The stock closed yesterday at just over twenty-eight cents a share.
In case your are not familiar with the company: Chimera Technology Corp. is a Nevada-based I-gaming software and e-commerce services company competing in the over $6 billion annual online gaming marketplace, projected to be over $10 billion by 2004 according to Computer Almanac Industry. The company is an international developer, licensor, and provider of online gaming products, including online bingo, casino, sports book, and pari-mutuel betting. Chimera Technology Corp. has successfully developed a supreme multiplayer online Internet bingo technology, a second-generation, world-class pari-mutuel sports books wagering platform and a full line of online Internet casino games suite. In addition, the company has developed its state-of-the-art "BIRDS EYE" System, a complete back office management system that operates the entire e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform that is second to none, giving Chimera an opportunity to establish a leadership position in this enormous market.
Stocks showing interesting activity yesterday were: RCN Corporation (Nasdaq:RCNC) down 6.8% on 6.5 million shares traded, Edge Petroleum Corp. (Nasdaq:EPEX) even on 492,700 shares traded and Petroleum Development Corp. (Nasdaq:PETD) down 1.8% on 779,300 shares traded.
Commentary: Markets
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