iGaming Corporation

iGaming Corporation

April 30, 2007 08:30 ET

iGaming Corporation Announces EBITDA of Over $1 Million for Fiscal Quarter Ending February 28, 2007

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 30, 2007) - iGaming Corporation ("iGaming" or the "Company") (TSX VENTURE:IGA) today announces its financial results for its first fiscal quarter of 2007 (ended February 28, 2007).

During the first quarter of its 2007 fiscal year, the Company achieved total revenue of $3,833,361 and net income of $706,853. Exclusive of non-cash amortization expense, the Company realized earnings of $1,037,795. The Company had been inactive for the comparable quarter in 2006, making comparative analysis non-informative.

Other highlights of the financial results for the fiscal quarter ended February 28, 2007 are as follows:

- Including funds held as reserves by processing banks and regulatory bodies, the Company has approximately $3.87 million of cash balances.

- Revenues recognized for the quarter were approximately 51% higher than those recognized in the fourth quarter of the fiscal year ended November 30, 2006. However, some of the business units currently being operated by the Company were operated for less than the complete quarter during Q4 of fiscal 2006.

- The Company integrated its newly acquired fantasy sports program, Rotoplay, into its Canadian based operations.

- In addition to the revenues recognized to date by the Company, the balance sheet as at February 28, 2007 reflects deferred revenue of approximately $2.24 million, 97% of which will be recognized as revenue in the ensuing 12 months. There are no deferred costs on the balance sheet to be expensed against such revenue.

"I am pleased to announce such positive results so soon following our reactivation in September of 2006" stated Christopher Kape, President and Chief Executive Officer. "While Q1 will generally be a strong quarter from an income perspective due to the recognition of certain deferred revenue that originates during the football season, we continue to see strong sales receipts across our various product lines. We believe we can build on this growth and continue in our quest to become a significant cross-media purveyor of information relevant to the sports enthusiast market."

The Company's unaudited consolidated financial statements and management discussion and analysis (MD&A) for the fiscal quarter ended February 28, 2007 are available at www.sedar.com.

The Company has 57,625,693 common shares outstanding which shares are listed on the TSX Venture Exchange under the symbol IGA.

About iGaming Corporation

iGaming owns and operates assets that provide fact-based and opinion-oriented information relevant to the sports industry. These assets include websites, client-server software, publications and call centers.

The Company generates revenues in a number of ways, including various direct to consumer services and direct to business sales through its portfolio of websites which includes www.JimFeist.com, www.PicksOnline.com, www.Vegasonlinesports.com, www.OffshoreConnection.com and www.ScoresLinesPicks.com. iGaming also operates Linetracker (www.linetracker.com), a state of the art, real-time sports information system for the more serious sports enthusiasts , handicappers and bettors. In addition, the Company operates various fantasy sports contests catering to the sports enthusiast through its fantasy sports website which can be found at www.rotoplay.com.

Cautionary Statement

No stock exchange, securities commission or other regulatory authority has approved nor disapproved the information contained herein. The News Release includes certain "forward looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of iGaming, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from iGaming's expectations are various risks detailed from time to time in the filings made by iGaming with securities regulations.

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy and accuracy of this release.

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