IN BRIEF

     Online betting service
     takes in $11 million
     
      Casinos of the South Pacific told Netbet Inc. an additional $11 million has been wagered over the Internet by Asian players on recent sport events. That brings the total wagers for the first two weeks of CSP's Internet Sports Book located in the Cook Islands to approximately $15 million.
      Netbet receives 80 percent of the net revenues of CSP in return for providing technical, marketing and financial assistance to CSP.
      CSP is solely responsible for operation of the gaming and sports betting Internet site. CSP holds approvals from the Cook Islands to accept bets and wagers over the Internet on a worldwide basis except from residents of the Cook Islands.
      The company's previously announced merger with Torrey Pines Nevada is now fully effective. The combined companies will trade as Netbet on the Bulletin Board. The company's assets are now in excess of $3 million
      Netbet plans to expand its operations in the Internet entertainment business and intends to apply for a listing on the Nasdaq Small Cap Market System.
     
     Weak franc helps
     hotels in France
     
      PARIS -- Revenues for hotel chains in France rose 11 percent in 1997, helped by a weak franc that made travel from the United States and Britain cheaper, according to a study by MKG Conseil, a consulting company.
      Sales rose to 30 billion French francs, about $5 billion, from 27 billion francs in 1996, led by strength in four-star hotels, according to MKG.
      The gain should continue this year, boosted by the World Cup this summer, MKG said, leading to double digit sales growth for 1998. An anticipated rebound in French consumer spending and continued strength of the dollar should further benefit, analysts said.
      "1997 was a year of recovery and 1998 will be another one," said Jonathan Goble, an analyst at BZW Ltd.
      Michelle Demessine, the country's tourism secretary, said earlier this month foreign tourists to France reached a record 67 million last year.
     
     Gaming index
     lags during rally
     
      An index of 15 major gaming stocks gained ground last week but lagged behind broader market indicators that staged strong rallies.
      The Chicago Board Options Exchange gaming index closed Friday at 243.61, up 0.458 percent for the week. The Dow Jones industrial average gained 2.672 percent last week, closing at 7,700.74. The Standard & Poor's 500 ended the week at 957.59, up 2.369 percent.
      The gaming index, which is known as the GAX, is up 9.252 percent for 1998, beating the broader market.
      Pacing the GAX last week was Jackpot Enterprises Inc., up 8.7 percent to close Friday at $12.50 a share.
      Business Week magazine reports that noted asset manager Mario Gabelli says the stock is worth at least $18 a share. Earlier this month, Gabelli raised his stake in the Las Vegas company to 5 percent.
      The biggest loser on the GAX last week was Circus Circus Enterprises Inc., which fell 5.64 percent. It last traded at $23 a share.
      On Friday, the stock was listed as "market perform" in new coverage by analyst Harry Curtis at BancAmerica Robertson Stephens, Bloomberg News reported Friday.
      The GAX is a price-weighted index that was developed with a value of 100 as of Jan. 2, 1992.
      The companies in the index: Argosy Gaming Co., Aztar Corp., Circus Circus Enterprises Inc., Grand Casinos Inc., Harrah's Entertainment Corp., International Game Technology, Jackpot Enterprises Inc., MGM Grand Inc., Mirage Resorts Inc., Players International Inc., Primadonna Resorts Inc., Rio Hotel and Casino Inc., Showboat Inc., Station Casinos Inc. and Trump Hotels and Casino Resorts.