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Wednesday May 6, 12:33 pm Eastern Time
Company Press Release
International Resorts and Entertainment Group Inc. Makes
Announcement
ORLANDO, Fla.--(BUSINESS WIRE)--May 6, 1998--International Resorts and Entertainment Group
Inc. (IRAE) (OTC BB:IRAE - news), a publicly traded Florida Corporation, announced today that it has
entered into an Agreement to participate in the establishment of the Countrywide Lotto for Costa Rica
S.A.
The Lotto and peripheral scratch games are estimated to gross in excess of $600,000,000 in the first three
years of operation and then level off at approximately $300,000,000 a year for the balance of the 15 year
contract. Based on those projections IRAE's earnings would be in excess of $20,000,000. The Lotto is
scheduled to begin within 90 days.
In Production Now
The company is currently in the process of recording a CD album and preparing a cross-country bus tour
to radio stations, Indian owned casinos and shopping malls as well as House of Blues locations beginning
in Los Angeles this summer. The CD album will be produced in Nashville and Los Angeles, May 16th
through May 30th, 1998.
Dave Trezak and The Village of Many Tribes Band will be promoting The Village of Many Tribes, a
501-C3 non-profit organization. This organization represents more than 500 Native American Tribes
across the North American Continent. North American Resorts Vacation Club Inc. will sponsor the
nationwide tour.
Recently, International Music Group Inc., a wholly owned subsidiary of IRAE signed a long-term music
publishing, production and management contract with Dave Trezak, who is an accomplished writer and
performer. In addition, International Music Group Inc. will be recording a CD entitled The Transistor
Sisters, in Nashville and Los Angeles May 17th through May 30th, 1998. The Transistor Sisters are three
live action cartoon characters for children ages 1 through 4. The CD will contain good time music and
sing-along material for children. The music will be used as part of music videos seen on a television series
in development called The Transistor Sisters. The Transistor Sisters will be utilizing the voice talents of
Sylvia St. James, lead performer for the House of Blues Gospel Brunch in Los Angeles and recording
artist Gina D. Both projects will benefit the Native American Cultural Center that is planned to be built by
The Village of Many Tribes, a 501-C3 non-profit organization.
Contact:
International Resorts and Entertainment Group, Inc.
Debbie Gniadek, 407/805-9131 |
