Business Wire- Starnet Communications International, a subsidiary of World Gaming plc, a global
pioneer in I-gaming technologies, has signed a Memorandum of Understanding to fully settle in all
respects all class action lawsuits consolidated in the United States District Court for the District of
Delaware that have been pending since late 1999.
"Today's settlement is a major accomplishment that will have a positive impact on the company
going forward. I am glad to have it behind us," said Michael Aymong, CEO of World Gaming. "This
settlement is not an admission of guilt or wrongdoing. It's about continuing our efforts to
significantly grow the business and dramatically increase shareholder value."
Aymong joined World Gaming in April of this year and since that time, the company has taken a
number of steps to improve productivity, enhance product development and sales capabilities, as
well as augment the company's management structure.
The Memorandum of Understanding was reached with Co-Lead Counsel for the plaintiffs and
Class members. The settlement will see the issuance of 1,050,000 World Gaming shares, with a
guaranteed minimum value of $1,050,000, together with payment of costs, not exceeding $50,000,
and payment of administrative expenses, not exceeding $50,000. The settlement reflected in the
Memorandum of Understanding is subject to formal notification to the class of shareholders and
"We believe that our ability to reach a share-based settlement is a strong vote of confidence in
World Gaming and its current business direction," said Aymong. "We continue to strengthen our
leadership position in the industry everyday and the elimination of this issue is one more powerful
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Approximate number of online casinos: 1500
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