Rack up TWO MORE......it keeps getting better. Imagine earnings on this company a year from now...sends chills down my spine...
March 29, 1999 07:00 AM
WILMINGTON, Del.--(BUSINESS WIRE)--March 29, 1999--Starnet Communications International Inc. SNMM ("Starnet") is pleased to announce that its wholly owned subsidiary, Softec Systems Caribbean Inc. ("Softec"), has licensed its turn-key Internet gaming technology to Star Ventures Inc. ("Star Ventures") and Interactive Technologies Inc. ("Interactive").
Each licensee will be supplied with a customized, full-service Internet gaming system, including virtual Casino games, a Sportsbook with real-time odds feed from Las Vegas and Europe, and simulcast horse and dog racing (no wagers taken at this time). The licensees' customers will be able to place wagers via a secure, on line financial transaction system. The Internet gaming technology is licensed through Starnet's wholly owned subsidiary, Softec, which licenses Starnet's turn-key technology to independent operators in exchange for participation in a percentage of its licensees' revenues. The web sites where Star Ventures and Interactive will implement the Softec system will be announced closer to the launch of their operation.
Mark Dohlen, Starnet's CEO commented, "I am very pleased with the signing of these newest licensees. Having them join our existing group of licensees solidifies our position as the preferred supplier of on-line casino systems." Starnet currently has 27 licensees.
Starnet is a fully reporting U.S. (Delaware) corporation which is currently listen on the National Association of Security Dealers ("NASD") Over-The-Counter Bulletin Board and commenced trading in September of 1997 under the symbol "SNMM". Starnet is also listed on the Berlin Stock Exchange ("Berlin") and is publicly traded on Over-The-Counter market under the symbol "SNM".
The Financial Times has estimated that the Internet gaming market will yield annual net earnings of U.S. $10.2 billion by the year 2002. The Wall Street Journal has described Starnet as "one of the established leaders in Internet gaming and entertainment."
Starnet is an Internet software, technology and service company, which commercializes on-line applications for established markets. For more information, please visit www.snmm.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Starnet's filings with the Securities & Exchange Commission. |
