February 6, 1998 |
Citing financial loss and strict gaming legislation, Internet gambling firm World Wide Web Casinos of Santa Ana has sold its site to a South African business for $2 million and an undisclosed cut of the house earnings. The site, which will be run on machines outside the United States, will launch live gambling Feb. 14, according to staff. World Wide Web plans to go public later this year and raise money to develop new online non-gambling games.
September 16, 1997 |
A company operating a gambling site on the Internet is among those named in three lawsuits filed Monday by Wisconsin's attorney general. Accepting bets via the Internet is illegal in Wisconsin, Atty. Gen. James Doyle said. Several gambling operators are trying to use the Internet to skirt state and federal laws, he said. Doyle said Internet gambling could make all home computers mini-casinos, and the easy accessibility could lead to more gambling by children and gambling addicts.
July 15, 1997 |
World Wide Web Casinos Inc., an Internet casino gaming company, and USA Growth Inc. said Monday that they have agreed to merge into a new corporation called Newcom. Shareholders of Santa Ana-based World Wide Web Casinos would emerge with a 94% stake in the new company's equity, while USA Growth, a New York-based venture capital firm, would own the remaining 6%. The agreement, which initially was announced in March, is subject to the approval of each company's shareholders and other conditions.
May 9, 1997 |
World Wide Web Casinos Inc. is suing Wisconsin Gov. Tommy Thompson and Atty. Gen. James Doyle for refusing to let an online gaming business open in a Milwaukee suburb. The lawsuit, filed this week in federal court in Milwaukee, contends that Doyle's office told the firm in March that setting up an Internet gambling business that would serve overseas gamblers was illegal under state law. The company claims, however, that Wisconsin's gambling laws do not apply to its proposed Internet operation.
April 22, 1997
World Wide Web Casinos Inc. said Monday that it has acquired Camelot Gaming Inc., an Internet gaming concern based in Las Vegas, through an exchange of stock. Camelot has signed up 5,000 to 7,000 players per month, which will double the database of players for World Wide Web, the Santa Ana company said.
March 13, 1997
World Wide Web Casinos Inc., which plans to launch an online gambling casino on the Internet, said it has agreed to merge with New York-based USA Growth Inc. Terms of the deal were not disclosed, but World Wide Web Casinos officials said that the purpose of the merger was to assume USA Growth's position as a public company with a stock listed over the counter. After the merger, executives said, the combined company will be called World Wide Web Casinos and the trading symbol will be changed.