American Wagering Announces Nasdaq Decision
Fri Aug 04 09:33:00 EDT 2000
LAS VEGAS, Aug 4, 2000 /PRNewswire via COMTEX/ -- American Wagering, Inc.
(Nasdaq: BETM) announced today that they received notification from the Nasdaq
Stock Market that the Nasdaq Listing Qualifications Panel determined to delist
the Company's securities from The Nasdaq Stock Market effective with the open of
business August 4, 2000.
The Panel said that the Company's securities may be immediately eligible to
trade on the OTC Bulletin Board. In the notification, Nasdaq said that the
Company may also request that the Nasdaq Listing and Hearing Review Council
review this decision. The Company will immediately review this decision with its
corporate counsel to determine if they will request a review of the decision.
The Company had no longer met the minimum requirements for Nasdaq National
Market Listing. In a hearing with the Nasdaq Stock Market, the Company had
requested that the trading of the shares be moved to the Nasdaq Small Cap
Market. The Company was very surprised to receive this notification since, as of
the filing of the Company's last 10Q with the SEC, the Net Tangible Assets of
the Company were well above the maintenance requirements set by Nasdaq.
American Wagering, Inc. owns and operates Leroy's Horse and Sports Place, the
licensed bookmaker with the largest number of sports book locations (47) in the
state of Nevada; CBS, the dominant supplier of sports equipment and software in
Nevada and creator and operator of Mega$ports; and AWI Keno, Inc., which is the
systems operator for interlinked Keno games. The Company also owns and operates
an Australian subsidiary which operates Mega$ports on the Internet.
SOURCE American Wagering, Inc.
CONTACT: Bob Ciunci of American Wagering, 702-735-5529; or Alan Woinski
of Gaming Venture Corp., 201-599-8484
URL: casinocenter.com
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