Atlantic International Entertainment, Ltd. Introduces Online Gaming System
Specifically Designed For The United States
PR Newswire - June 23, 1999 10:08
AIE's Closed-Loop Virtual Private Network (VPN) Solutions Are Within Current And Proposed US Gaming Legislation Regulating Online
And Internet Gaming
BOCA RATON, Fla., June 23 /PRNewswire/ -- Atlantic International Entertainment, Ltd. (OTC Bulletin Board: AIEE) announced today
that it has introduced an innovative online gaming product specifically designed for the United States gaming markets. The AIE closed loop
VPN (Virtual Private Network) allows remote PC game play within a designated geographic area. The system, which can include both
gaming and wagering products, will be offered to state governments and other select operators in regulated environments. The VPN product
will be structured so that transactions would be limited to players within a designated geographic area (e.g., residents of a state) and in
accordance with all necessary gaming regulations. In particular, the systems will be set up to effectively combat underage and problem
gaming.
The initial concept behind AIE's VPN product dates back to 1997 but has been redesigned for implementing along the lines of the recently
announced Nevada-based remote wagering programs. The current participants of those two announced projects included Bally's Gaming
and International Sports Wagering as well as, YouBet.com and Stations Casinos. AIE's systems surpass those used for the Nevada projects
by offering products in addition to the wagering offerings. AIE anticipates the market for these products to include the states in the U.S. that
allow forms of gaming and selected international venues requiring similar geographic limitations for its players.
AIE's President & CEO Richard Iamunno stated, "We feel it is important to introduce a product that can be utilized by gaming operators to
offer the limited online gaming services contemplated by current and proposed U.S. legislation. The AIE state-of-the-art closed-loop system
can accomplish this. We will begin to make product presentations in the U.S. during the third quarter leading with the VPN product system.
As U.S. online gaming regulation continues to take form we will respond appropriately by modifying and re-designing our products to best
meet the needs of the marketplace.
The company has announced a name change to, pending the results on the company's proxy vote at the annual shareholders meeting
tentatively scheduled in August, Online Gaming Systems Ltd.
Atlantic International Entertainment, Ltd. ( www.aieltd.com ) develops and markets Internet and private network transaction-based products
that it only offers to license gaming operators in regulated jurisdictions. These products include: Internet Casino Extension(TM) (ICE)(TM),
webSports(TM), an Internet sports wagering system; Lotto Magic(TM), a lottery system for private, government and fund raising purposes;
and Bingo Blast(TM) a multi-player system for charity and private organization use. The Company also offers wireless and portable gaming
devices through its Las Vegas-based Excel Design, Inc. wholly owned subsidiary.
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. For a more complete description of certain such risks and
uncertainties, please refer to the documents that the Company files from time to time with the Securities and Exchange Commission including
10K filed May 7, 1999 and form 10Q filed May 18, 1998.
For Investor Relations please contact: Ira W. Miller or Larry Fortune I.W. Miller Group, Inc., (949) 833-9001.
SOURCE Atlantic International Entertainment, Ltd.
/CONTACT: Richard Iamunno, President & CEO of Atlantic International
Entertainment, Ltd., 561-393-6685, or fax, 561-393-1485/
/Web site: aieltd.com / |
