The UK’s proposed gambling reforms will boost online and offline gambling to the tune of an extra Ј1bn by 2010, according to a report by marketing company The Henley Centre. 

The report said that remote gambling – i.e., Internet, interactive TV and mobile gambling – will be a big winner, as will the UK government, which will rake in Ј400 million in tax by 2010. The land based casino industry will also benefit, but the smaller land-based operations, such as bingo, amusement arcades and pubs, will lose out, the study indicates.
Chimera Technology Corp. ("Chimera") (Pink Sheets: CNOC) (http://www.chimeratechnology.com) is pleased to announce it has secured an additional private placement equity financing in the amount of $1,000,000 subject to the completion of the regulatory filing. The million-dollar financing is the third-largest private placement announced by Chimera in less than two months. On Jan. 13, Chimera announced equity financing in the amount of $250,000, then announced $500,000 in private placement financing on Feb. 9, bringing the total amount of equity financing in 2004 to $1,750,000. 
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Financing Details 

The financing was completed at current market prices, less applicable discounts and subject to hold periods prescribed by securities regulations. Furthermore, in keeping with the last private placement, investors will be pleased to know the financing involves the purchase of restricted common stock of Chimera that includes a minimum one-year hold period and restrictions as to maximum dispositions per quarter thereafter. 

Use of Proceeds -- Explosive Growth in Chimera Operations and Online Gambling 

In addition to announcing the signing of two new licensees in 2004, Chimera has also recently announced several large initiatives to capitalize on the exponential growth of global online gambling. Proceeds from financing will be used to develop and deploy these initiatives as soon as possible. Those initiatives include: 

March 4, 2004 -- Chimera to Launch Full Platform of Pari-Mutuel Thoroughbred Wagering 

Chimera announced the addition of a comprehensive platform to host pari-mutuel thoroughbred horse race wagering. The platform is scheduled for launch in the next 60 days and will provide a powerful complement to the company's world-class sports book wagering platform and soon-to-be-launched casino games platform. The global pari-mutuel "handle" (total amount wagered) is estimated at $150 billion. 

March 2, 2004 -- Chimera to Launch Full Suite of Casino Gaming Platform 

Chimera announced the addition of a casino games platform to complement the company's world-class sports book wagering platform and soon-to-be-launched pari-mutuel thoroughbred wagering platform. The casino games platform is scheduled for launch in the next 60 days and will include blackjack, roulette, craps, pai gow and slots, among others. As a result of Britain's Gambling Bill expected to pass into law later in 2004, making it easier for companies to run online casinos from the United Kingdom, global online gambling revenues are expected to increase sixfold in the coming years from its current estimates of $7.5-$10 billion. 

Feb. 24, 2004 -- Chimera Sets Sights on Asian Online Gambling Market with Proposed Hong Kong Office 

Chimera announced the commencement of discussions with a Hong Kong-based consulting firm for the purposes of targeting the highly lucrative and rapidly expanding Asian online gambling market. The decision to target the Asian online gambling market is based on unequivocal company market research that includes the following: 

-- China is second only to the United States in terms of the number of Internet users and is expected to become the biggest market in the next four years, according to a study by the Internet Society of China. 

-- According to IDC, by 2006, China will make up 53.1 percent of Asia's Internet users, 51.2 percent Internet buyers and 48.6 percent of e-commerce. 

-- Gambling and entertainment research firm Christiansen Capital Advisors estimates the number of Asian online gamblers will grow from 4 million in 2003 to 7.4 million by 2006. 

Chimera President Ken Chua stated, "Today's massive financing should serve as unequivocal third-party validation of our business plan and management's ability to execute it for the benefit of all Chimera shareholders. New licensees, new platforms, proposed new offices on other continents and $1,750,000 in financing -- all before the third week of March. Whereas most companies in this space can only hope for such success during their lifetime, Chimera is announcing them at a break-neck pace. Private placement investors are putting their money and trust into strong expectations of Chimera's success for many years to come, and that is evident by the fact that this private placement provides for restricted stock, no disposition until March 2005 and capped dispositions thereafter. Clearly, our investors intend to stay with Chimera for many years to come and management will ensure we are worthy of that privilege." 

This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the "Chimera Technology" Investor Discussion and Contact Forum. Alternatively, investors can e-mail AGORA Investor Relations directly at CNOC@Agoracom.com 

About Chimera Technology Corp. (Pink Sheets: CNOC) http://www.chimeratechnology.com 

Chimera Technology Corp. is a Nevada-based I-gaming software and e-commerce services company competing in the over $6 billion annual online gaming marketplace, projected to be over $10 billion by 2004, according to Computer Almanac Industry. The company is an international developer, licensor, and provider of online gaming products, including online bingo, casino, sports book, and pari-mutuel betting. Chimera Technology Corp. has successfully developed a supreme multi-player online Internet bingo technology, a second-generation world-class pari-mutuel sports books wagering platform and a full line of online Internet casino games suite. In addition, the company has developed its state-of-the-art "BIRDS EYE" System, a complete back office management system that operates the entire e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform that is second to none, giving Chimera an opportunity to establish a leadership position in this enormous market. Caesars Entertainment Inc. has introduced a marketing offer for rooms booked through its corporate hotel websites that will match the lowest rate found anywhere on the Internet.

The "Best Rate Guarantee" will match the online price of any room at the company's 18 U.S. hotel-casinos and discount the rate by an additional 25 percent if a customer finds a lower Internet rate, the company said.

"This program is designed to reward our loyal online customers and assure them that they will always find the lowest room rates for our properties on our website," said Steve Rosen, the company's senior vice president of marketing.

Customers who book rooms directly through Caesars websites may cancel their reservations up to 48 hours prior to their visit and receive a full refund, the company said.

Union criticizes tribal plan

The president of the Hotel Employees & Restaurant Employees International Union is criticizing a ballot initiative proposed by the Agua Caliente tribe in Palm Springs, Calif., to allow tribes to receive rights to an unlimited number of slot machines and casinos in exchange for paying a percentage of slot machine profit to the state.

In a statement Friday, union President John Wilhelm said the initiative "would not be in the best interests of other tribal gaming enterprises or tribal casino workers."

"Tribal gaming enterprises not as well situated in Agua Caliente's gaming market would suffer through an inability to compete. The lack of worker protections would compromise casino workers' ability to collectively bargain for decent wages and benefits to support their families."

The hotel and restaurant union, which is called the Culinary Union in Las Vegas, has been working to organize casino workers in California, including the tribe's Palm Springs casino. 

Purchase option extended

A trio of Southern Nevada casino owners considering a purchase of the Castaways hotel-casino has been granted a 15-day extension on their option to buy the closed, bankrupt property.

Randy Miller said this morning that he and partners Rich Iannone and Rich Gonzales were granted the extension beyond today's original option expiration because it's now "likely" the trio will purchase the Las Vegas property.

The three, who own and operate the Bighorn casino in North Las Vegas and the Longhorn casino on Boulder Highway, are now finishing their due diligence, investigating the condition of the property and getting a handle on the cost of bringing the property up to speed, Miller said.

"It will require $8 million to $10 million in new games," Miller said of the 49-year-old property that closed in January. "We won't open without state of the art equipment. We want to reopen the business as quickly as possible."


Rio in pact with Detroit operator

The Rio hotel-casino in Las Vegas this morning announced a marketing alliance with the Greektown casino, to allow the Detroit operator to send its casino players to the Las Vegas resort.

"The alliance will enable Greektown Casino to provide its players an opportunity to enjoy new gaming experiences at one of Las Vegas' premier casino hotel resorts, as well as benefit Rio players who live in the Detroit area," Rio-parent Harrah's Entertainment, Inc. and Greektown noted in a joint statement.

MGM MIRAGE and Mandalay Resort Group of Las Vegas operate Detroit's other two casinos.
The above statements in regard to Chimera, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Chimera's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes.

The report finds that problem gambling will also increase, with 700,000 problem gamblers by the 2010 date – that’s about 1 in 100 people in the UK! Pubs will lose out because they derive a significant chunk of their income from slot machines and other gambling devices, and some city centre casinos may also lose out. The report says that big, resort casinos modeled on Las Vegas lines will take business away from gambling establishments that currently exist.



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