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Fairground Gaming Holdings Plc's Updated Response to the Unlawful Internet Gambling Enforcement Act

10 Oct 2006

Fairground Gaming has been advised that the Safe Ports Act, which contains the Unlawful Internet Gambling Enforcement Act, will shortly receive Presidential approval and be passed into law. This is the first US Federal measure to explicitly address internet gaming and the Board has thus concluded that it is now appropriate to suspend participation by US-based customers in the company's casino and poker activities. This suspension will be implemented immediately upon this legislation taking effect.

The Board is confident that Fairground's remaining operations, which derive revenue from outside the US and comprise some 30% of the original turnover, are profitable. The Board is attending urgently to appropriate cost-cutting measures and has adequate cash reserves going forward.

Fairground Gaming continues to monitor the situation across the rest of its operations and, given the sector upheaval, is reviewing the strategy of consolidation. In the meantime it is proceeding with appropriate caution in evaluating opportunities for further geographical diversification.

 
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