Casino Journal Publishing Group Announces Licensing Agreement For Internet Magazines
LAS VEGAS, Sept. 13 /PRNewswire/ -- Casino Journal Publishing Group, Inc. (OTC Bulletin Board: CJPG - news) today announced the signing of a non-exclusive licensing agreement with SoftNetGaming, Inc. for the company to provide content from current and previous issues of their publications for use by SoftNetGaming in their on-line gambling magazines.
Currently, SoftNetGaming acts as an on-line advertising agency for Internet gaming and other types of on-line businesses. Currently, SoftNet publishes three on-line magazines at softnetgaming.com, sportsgamingguru.com, and casinoguru.com. SoftNetGaming expects to launch additional on-line magazines in the future pertaining to other forms of gambling.
The content Casino Journal Publishing Group will provide to SoftNetGaming will come from their industry-leading gaming consumer and trade publications including: Casino Player, Strictly Slots, Casino Journal, The National Gaming Summary, The Gaming Industry Weekly Report, The Gaming Industry Daily Report and The Atlantic City Insider newsletters. This content will be blended in with feature articles from the writing staff of SoftNetGaming, Inc.
In return for the licensing of their content, Casino Journal Publishing Group received a 5% equity stake in SoftNetGaming valued at $250,000. In addition, Casino Journal Publishing Group and SoftNetGaming entered into an additional agreement whereby SoftNet will allocate a portion of the advertising revenues they receive from clients toward placement of ads in Casino Journal print publications. This has averaged approximately $30,000 a month in additional advertising, for the last two months.
Commenting on the agreements, Casino Journal Publishing Group, Inc. Chairman, CEO and Group Publisher, Glenn Fine said, ``We are pleased to complete this agreement with SoftNetGaming. Management has been exploring ways to expand its Internet publishing beyond our highly successful web site, casinocenter.com. The agreement with SoftNet is one of many on- line relationships we plan to engage in. The future of publishing includes the Internet and we expect to utilize our relationship with SoftNetGaming to extend the reach of the Company's publications. In addition we expect to utilize the Internet to extend our e-commerce capabilities.'
Sherri E. Paisley, Director of Marketing at SoftNetGaming added, ``We each recognize the potential that exists for interactive entertainment and we are pleased to be leading the way into this new frontier with our suite of Internet publications. Our alliance with Casino Journal Publishing Group is an important key in establishing SoftNetGaming as a leader in Internet publishing while affording both companies greater opportunities to reach their intended audiences on a global scale.'
Casino Journal Publishing Group, Inc. is the largest publisher to the growing gaming industry. 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 Report, the Gaming Industry Weekly Report and the Daily Lodging Report, 3 financial newsletters geared towards gaming and lodging executives and investors. For the gaming consumer, Casino Journal Publishing Group 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.
SOURCE: Casino Journal Publishing Group, Inc.
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