SocietyGuardian.co.uk | Voluntary sector | Online lottery company faces ruin as punters decide they don't like Mondays: "Online lottery company faces ruin as punters decide they don't like Mondays
· Charity pitch falls flat just four weeks after launch
· Urgent search for extra funding to keep firm afloat
Simon Bowers
Tuesday June 6, 2006
The Guardian
It started out as a small but brazen challenger to the national lottery, hoping to capitalise on a stream of damaging stories that have caricatured many of the good causes benefiting from lottery cash as unworthy or ridiculous.
But last night, Tim Holley, chairman of the company behind Monday, the world's first online-only lottery, was believed to be close to resigning as the company found itself on the brink of financial ruin after just four weeks in operation. Mr Holley and two fellow directors have also received payouts worth more than the £520,000 donated to the 20 charities linked to Monday."
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