Casino Journal Announces Equity Stake in ByeByeNOW.com
January 26, 2000 - Las Vegas, Nevada - Casino Journal Publishing Group, Inc. (OTC BB
: CJPG) today announced the signing of a long term advertising agreement with
ByeByeNOW.com, an interactive network of websites, and franchise travel agents for the
sale of vacation products. The agreement, the largest in the Company's history, calls for
ByeByeNOW.com to advertise on a monthly basis in the Company's Casino Player and
Strictly Slots consumer gaming magazines.
Casino Player and Strictly Slots are part of a consortium of magazines which
ByeByeNOW.com has agreed to advertise in as part of their national marketing push. As
a result of the agreement, Casino Journal Publishing Group will receive an equity stake in
ByeByeNOW.com. ByeByeNOW.com recently announced the signing of definitive
agreements to acquire Integrated Marketing Professionals (OTC BB : POKR) and
Aviation Industries OTC BB : AVIA). The acquisition will close at the time of
ByeByeNOW.com's Initial Public Offering which is expected during the second half of
2000. ByeByeNOW.com also recently announced the hiring of former NBC News Senior
Executive Guy Pepper as Chief Executive Officer.
Commenting on the new agreement, Casino Journal Publishing Group, Chairman and
Group Publisher Glenn Fine said, "It is with great pride that we announce the largest
advertising agreement in the Company's history. We will provide over $700,000 in
advertising in exchange for equity in this new specialty Internet travel company. This is
part of our strategic plan to invest in Internet e-commerce companies which we feel could
provide great returns for the Company and our shareholders in the future. We have the
massive readership that start-up e-commerce companies desperately need and
depending on the viability of the company, we are willing to accept equity for their
advertising. In recent months, CJPG has received equity interests in e-commerce Internet
companies such as SoftNet Gaming, Players Network (OTC BB: PNTV), Virtual Gaming
Enterprises (OTC BB : VGAM) and now ByeByeNOW.com in return for content,
advertising or services. Our investment portfolio now is worth approximately $0.50 per
share based on today's current prices of the publicly traded issues and the valuation of
the services to the still private companies."
Alan Woinski, President and CFO of Casino Journal Publishing Group added, "In recent
months, we have begun to focus our attention on gaining equity interests in emerging
companies. We have strict criteria for these investments in that if it is a private company,
we must have a comfort level that they will soon be publicly traded. We expect that in the
future, these investments we are making could provide great value to our Company and
our shareholders. We feel that our status as the largest casino and gaming publisher in
the world will assist us in increasing our investment portfolio in the future through joint
ventures and consulting, licensing and marketing agreements."
Casino Journal Publishing Group, Inc. publishes Casino Journal, the company's flagship
magazine, and the most widely read trade publication serving the gaming industry; the
National Gaming Summary, an extensive weekly newsletter that provides up-to-the-minute
gaming news; the Gaming Industry Weekly and Daily Reports and the Daily Lodging
Report targeting gaming and lodging executives and investors.
For the gaming consumer, CJPG publishes Casino Player and Strictly Slots, the nation's
largest circulation consumer gaming publications, and the Atlantic City Insider, which
targets the frequent Atlantic City gambler. The Company also produces the American
Gaming, Lodging and Leisure Summit in conjunction with Bear Stearns & Co. and the law
firm of Lionel Sawyer and Collins; the Southern Gaming Summit with the Mississippi
Casino Operators Association; the Atlantic City Chamber of Commerce Business Expo,
the Northern Gaming Summit in conjunction with the Michigan law firm of Fraser
Trebilcock Davis & Foster and Bear Stearns & Co. and UNLV Casino Ops trade shows.
Safe Harbor: Certain statements in this press release, including statements regarding the
anticipated development and expansion of the Company's business, and the intent, belief
or current expectations of the Company, its directors or its officers, are ''forward-looking''
statements (as such term is defined in the Private Securities Litigation Reform Act of
1995). Because such statements are subject to risks and uncertainties, actual results may
differ materially from those expressed or implied by such forward-looking statements.
Contact: Alan R. Woinski of Casino Journal Publishing Group, Inc. at (201) 599-8484. |
