World Gaming Secures US$1.5 Million Short-Term Loan; Launches New Licensee Nova Internet N.V

Business Wire, August 2, 2002

Business Editors & Gaming Writers

LONDON--(BUSINESS WIRE)--Aug. 2, 2002

World Gaming plc (OTCBB:WGMGY), a global pioneer in I-gaming technologies, has secured a US$1.5 million dollar short-term loan to address the immediate working capital needs of the company. The funds will allow World Gaming to meet its financial obligations through to what the company anticipates will be record sportsbook turnover this fall.

"In addition to satisfying our immediate cash needs, we have taken, and will continue to take, important steps toward reducing our overhead costs," said David Craven, Chief Executive Officer. "However, we will not touch and are in fact enhancing those resources necessary to meet the needs of our customers during their busiest season. We anticipate record sportsbook transaction volumes this fall which in turn can be expected to translate into record returns for our company."

The company has successfully launched Hot Gold Casino www.hotgoldcasino.com, the first World Gaming site for the company's newest licensee Nova Internet N. V. Nova Internet is an established online gaming company with a strong European market focus.

"Nova Internet's decision to move onto the World Gaming platform is very encouraging, given the company's exposure to competitive products and services over several years," said Craven. "I am pleased to say that we have earned their respect early on and are now looking to expand our relationship with them."

The company expects to make a further announcement concerning new business this month.

World Gaming will host a conference call with the company's newly appointed CEO, David Craven, the week of August 12. Details concerning the call will be announced next week.

About World Gaming plc

World Gaming plc is a pioneer and leader in I-gaming software and e-commerce technologies. World Gaming is an international developer, licensor and provider of the industry's most comprehensive offering of online gaming products, including casino, sportsbook and pari-mutuel betting. For more information about World Gaming, visit the company's Web site at www.worldgaming.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing, evaluation and deployment of products, fraud occasioned upon licensees of World Gaming, regulation of the online gaming industry, and other risks detailed from time to time in World Gaming's filings with the Securities & Exchange Commission. We assume no responsibility for the accuracy and completeness of these statements and are under no duty to update any of the forward-looking statements contained herein to conform these statements to actual results. This is not an offer to sell or a solicitation of an offer to purchase any securities.