international flights has announced its incorporation in Bermuda.

Creator Capital Incorporated and its wholly-owned Las Vegas subsidiary, Sky Games International Corporation said from British Columbia, Canada this week that it "has received all the required approvals to complete its continuance to Bermuda''.

Creator Capital said that they will trade on NASDAQ as Sky Games International Ltd., retaining its existing symbol SKYGF.

The company expects that over the medium term virtually all in-flight gaming entertainment revenues will be generated outside the US and Canada.

"Consequently, future bottom line results will be enhanced by the low corporate tax rate in Bermuda'' the company said on Tuesday.

The company has now applied to delist from the Vancouver Stock Exchange.

Its subsidiary, Sky Games International, has developed a sophisticated, remote control gaming entertainment system for use by passengers on long haul international flights and other forms of transportation.

The products could enable the introduction of casino type gambling through in-seat video systems to a potential market of 2,000 wide-body aircraft flying 200 million passengers per year in over half a million aircraft seats.

The company said that about 70 percent of the seats are on non-US airlines.

Bloomberg Business News reported less than three weeks ago that company president, Mr. Malcolm Burke, had secured a one year Cdn$625,000-loan agreement with an unrelated firm, Duoro Ltd.

The money was to be used to fund the capital requirements of the joint venture with Harrah's Casinos, a Promus company. The companies have still not indicated when the actual service may be offered.

The plan was to use Creator Capital's software which would consist of computer terminals integrated into seat backs through which passengers could play poker, blackjack, keno, bingo and electronic slot machines.

Memphis, Tennessee-based Promus would provide its experience in operating and marketing casinos. Bloomberg said that part of the marketing would be that passengers could buy credits in any currency, but would wager and be paid in US dollars, through credit or debit cards. No cash would change hands.

Sky Games, in a private placement proposal, went to London company, T. Hoare & Co. Ltd. for nearly $1.7 million of financing, selling 350,000 shares and half as many share purchase warrants for $1,662,500.

Three weeks later, Mr. Burke announced that the company was "withdrawing, due to current market conditions, the private placement financing announced October 3, 1994. Management will consider a new financing in the future as market conditions improve.'' In October, the company granted incentive options for the purchase of 30,000 shares of its capital to directors and employees of the company.

Surveys show that 88 percent of international travellers say that they would use such a facility if available.

President and CEO of Sky Games International, Mr. James P. Grymyr, told The Royal Gazette in August that winners could be paid through American Express money orders that were negotiable worldwide.

The company was still seeking appropriate regulatory approval and had already ceded control over the size limit of wagers and winnings to the airlines.

The promoters feel that dollar-stretched airlines may be eager to include the service for a share of the "house's take''.

Promus and Creator Capital are focusing on non-US carriers, because the US Congress has banned gambling on any flights originating or terminating in the US.

The promoters are conducting negotiations with four major non-US airlines, whom they declined to name. It is known that Virgin and Northwest have tested interactive entertainment hardware, offering non-gambling video games, movies and other services. British Airways recently announced the imminent provision of interactive equipment. Several other airlines, including Continental and Air France are known to be interested.

The computer systems and terminals are supplied by aerospace companies. Promus and Creator Capital will provide the gambling software, along with accounting, personnel training and marketing services.

Promus operates casinos in Nevada, New Jersey, Illinois, Mississippi, Missouri and Louisiana. It also owns 550 hotels including Embassy Suites, Hampton Inn and Homewood Suites hotel chains.