OGPS news out on the wires now: should get some activity soon... but regardless.. this is NOT to to play for just a day imho
have fun.. off to work now.. jim
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Tuesday June 29, 9:28 am Eastern Time
Company Press Release
Omicron Enters Joint Venture to License Premier Internet Gaming Software
BELLINGHAM, Wash.--(BUSINESS WIRE)--June 29, 1999--Omicron Technologies, Inc. (OTC BB:OGPS) has completed a joint venture agreement with Double Mastery, Ltd, a private Nevis, West Indies corporation.
Double Mastery's management has several years of experience in the online gaming industry providing a comparative advantage in the rapid development of the joint venture. Each party will own 50% of the newly formed company. The company will license, at a lower cost, the premier turn-key Internet gaming software available to those interested in entering the online gaming industry.
Each licensee will be supplied with a customized, full-service Internet gaming system, including virtual casino games and sports betting. Customers will be able to place wagers via a secure, online financial transaction system. The gaming technology will be licensed to independent operators in exchange for a percentage of the net revenues generated by their casino websites. The joint venture expects to license over 50 casino websites within the next six months generating in excess of $10M in total revenues and over $1M to Omicron.
The private software company acquisition announced on June 8, 1999, is nearing completion. This company will provide technical and systems support for the joint venture's operations. In addition to providing Omicron with website development services for its own ''Lucky Eight Casino'' website, the software company will assist new licensees with the development of their casino websites through the joint venture company.
The Financial Times has estimated that the Internet gaming market will yield annual net earnings of over U.S. $10 billion by the year 2002. Omicron will develop and operate many casino websites targeting various market niches worldwide. Additionally, through its new joint venture, Omicron expects to become established as a preferred supplier of online gaming systems and a leader in the Internet gaming industry.
Omicron Technologies, Inc. is in the business of acquisition, research and development, and marketing of leading edge technologies and Internet based business concepts. Through the combined strategy of identifying marketing niches and aggressive development of its business interests, Omicron anticipates success in attaining significant penetration in its targeted markets.
OMICRON TECHNOLOGIES, INC.
Barrett Sleeman, President
NOTE: Safe Harbor for Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of prices, product demand, market compensation, risk inherent in the company's international operations, imprecision of reserve estimates and the company's ability to replace and expand reserves.
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Contact:
Omicron Technologies Inc.
Barrett Sleeman, 877/903-2288
www.omicrontechnologies.com |
