Shares-for-Cash Actions in Online Gambling Technology Sector

Parlay Entertainment and Probability raise cash in private transactions

This has been a cash-raising week for two reputable online gambling technology companies, Canada's bingo specialist Parlay Entertainment and UK mobile gambling provider Probability plc. The two enterprises conducted the shares-for-cash activities via private placements.

Namely, in a non-brokered private placement, Parlay raised $320,000 by issuing 800,000 common shares at a price of $0.40 per share. It was stated that the money will be used for general working capital purposes. The hold period for the common shares expires on March 18, 2011.

On the other side, Probability has raised GBP2.3 million by placing 4,600,000 of new ordinary shares. The newly obtained funds will be used to speed up the company’s plans to spread in the UK and in newly regulated European markets.

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