News January 25, 16:24 Eastern Time
Total Entertainment Inc. Becomes Exclusive Provider of Online Gaming Systems' Internet Software; Company To Use New Revenue Streams to Expand Operations
NEW YORK, Jan 25, 2000 (BUSINESS WIRE) -- Total Entertainment Inc.
(TTLN-NASD-BB) announced today that the company plans on using its
exclusive software licensing agreement with Online Gaming Systems Ltd.
to expand its online gaming business internationally and expects the
additional revenue streams to contribute to its expansion. The company
will market and provide services for Online Gaming Systems' software
through partnerships with local operators in various countries.
"There is great International potential for the Internet gaming
business," says Sandy Masselli Jr., Chairman of Total Entertainment,
about a market that Christiansen/Cummings Associates expect to reach $3
billion by 2002. "Since our company will be selling software that
creates the ultimate e-gaming experience, we believe our international
partners will be able to create a strong, recurring revenue stream that
will greatly benefit our company and our shareholders."
Total Entertainment has already created successful software and
hardware infrastructure solutions for e-commerce and e-gaming. Now the
company will aggressively sell and license state-of-the-art gaming
software from Online Gaming Systems, which is custom designed to fit
the needs of Total Entertainment, making the company a premier provider
of end-to-end e-gaming solutions.
The financial benefits of Total Entertainment's international online
gaming business are many. The company will now have revenue streams
from up-front licensing fees, monthly maintenance and support fees, as
well as royalty fees set at 10% of net earnings for Online Gaming
Systems' casino, sportsbook, bingo and lottery products.
"We want to be recognized internationally for the most-realistic and
exciting online gaming experience," says Mr. Masselli. "We are
confident that this new exclusive licensing agreement with Online
Gaming Systems will give us the products and the revenue necessary to
make this goal a reality."
Total Entertainment and Online Gaming Systems were two of twelve
companies cited in a Bear Stearns report as companies to watch in the
Internet wagering and gaming technology industry.
This press release contains potential forward-looking statements
regarding the Company. The future performance of the Company involves
risks and uncertainties that could cause actual results to differ
materially. Such risks include competition and pricing pressures,
dependence on telecommunications carriers, management of growth,
customer turnover, technological change, governmental regulation,
unauthorized use of technology, system failures and a variety of stock
market-related risks.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
CONTACT: Information:
Sandy Masselli Jr.
Mitchell Brown
Total Entertainment Inc.
(514) 842-6999
www.ttln.com
-or-
Daniel Brennan
National Public Relations, Montreal
(514) 843-2325
-or-
John Shave
National Public Relations, New York
(908) 790-8835
WEB PAGE: businesswire.com
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