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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
dated April 2004
WORLD GAMING PLC
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(Exact Name as Specified in its Charter)
N/A
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(Translation of Registrant's Name)
KFH Building, Liat Rd, Coolidge
Antigua, West Indies
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(Address of principal executive offices) (Zip code)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): Not applicable.
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In March 2004, World Gaming Plc agreed in principle to a two-year extension of
its existing software licensing agreement with Sportingbet PLC, which had been
due to expire in March 2004. As World Gaming's largest licensee, Sportingbet
represented approximately 70% of World Gaming's total revenues in 2003.
Sportingbet has since advised World Gaming that it is reviewing its options and
has proposed certain alternatives that would change the structure of the
companies' existing relationship. These proposals currently are being reviewed
by the Board of Directors of World Gaming. While preliminary discussions have
taken place, the Board anticipates that further discussions with Sportingbet
regarding alternative structures between the companies will continue over the
next several months. At this stage, the outcome of these discussions is
uncertain. To the extent they negatively impact World Gaming's prospects for
extending its Licensing Agreement with Sportingbet past the existing two-year
extension, the Board of World Gaming would likely have to consider revising its
current business plan to best facilitate the continuation of its existing
business.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
We make certain forward-looking statements in this document within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Private Securities Litigation
Reform Act of 1995 provides a safe harbor for forward-looking statements. To
comply with the terms of the safe harbor, we note that a variety of factors
could cause our actual results and experience to differ substantially from the
anticipated results or other expectations expressed in our forward-looking
statements. When words and expressions such as: "believes," "expects,"
"anticipates," "estimates," "plans," "intends," "objectives," "goals," "aims,"
"projects," "forecasts," "possible," "seeks," "may," "could," "should," "might,"
"likely," "enable" or similar words or expressions are used in this document, as
well as statements containing phrases such as "in our view," "there can be no
assurance," "although no assurance can be given" or "there is no way to
anticipate with certainty," forward-looking statements are being made. These
forward-looking statements speak as of the date of this document.
The forward-looking statements are not guarantees of future performance and
involve risk and uncertainties. These risks and uncertainties may affect the
operation, performance, development and results of our business and could cause
future outcomes to differ materially from those set forth in our forward-looking
statements. These statements are based on our current beliefs as to the outcome
and timing of future events, and actual results may differ materially from those
projected or implied in the forward looking statements. Further, some
forward-looking statements are based upon assumptions of future events which may
not prove to be accurate. The forward-looking statements involve risks and
uncertainties including, without limitation, the risks and uncertainties
referred to in our filings with the Securities and Exchange Commission,
including our most recent Form 20-F.
We undertake no obligation to publicly update or revise any forward-looking
statements as a result of future developments, events and conditions. New risk
factors emerge from time to time and it is not possible for us to predict all
such risk factors, nor can we assess the impact of all such risk factors on our
business or the extent to which any factor, or combination of factors, may cause
actual results to differ significantly from those forecast in any
forward-looking statements. Given these risks and uncertainties, investors
should not overly rely or attach undue weight to our forward-looking statements
as an indication of our actual future results.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused the Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: April 30, 2004
WORLD GAMING PLC
By: /s/ A. Daniel Moran
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Name: Anthony Daniel Moran
Title: CEO