Warren Cloud and RTG-powered Crystal Gaming to float on LSE

Well known online casino owner Warren Cloud and his Realtime Gaming -powered Crystal Gaming group hit the Sunday Times of London headlines this week with a reported
intention to list on the London AIM exchange with a value of GBP 140 million

Cloud's group is the latest major online gambling group to seek a public listing in London, following the example of companies like Party Gaming (Party Poker) and
888.com (Casino on Net) .

Crystal Group is, according to the Sunday Times report based on the Isle of Man
and is believed to have appointed the respected investment company Seymour Pierce to advise on the listing, expected to put a value of GBP 140 million on
the firm.

Crystal claims to be the third-largest online casino on the basis of the number of visits to its sites, which include Crystalpalacecasino.com.

Warren Cloud, the 32-year-old South African founder of the business, and his family will retain a 45 percent stake in the company.

Seymour Pierce is confident that the group's track record — in the 12 months to June 2005 the group made a pre-tax profit of US $20.4 million — and the fact
that the management are not selling shares will attract investors.

The expected GBP 47 million raised from the float will be used by Crystal to develop an online poker business.

Elsewhere in the gaming industry, Alchemy Partners, the private-equity group, has emerged as front-runner to acquire Buckingham Bingo, the northwest-based
group, for about GBP 100 million.

Alchemy has edged ahead of rival firms, including Duke Street Capital, to buy the business from majority shareholder and chairman Panico Panayi.

It is not clear whether Alchemy, which is currently bidding for a number of leisure assets, will back the existing management or has its own team lined up.
Alchemy declined to comment.