MDIH: News just out.....
Wednesday June 30, 10:26 am Eastern Time
Company Press Release
MDI Announces Six New Contracts and First Catalog/E-Commerce Initiative
HARTFORD, Conn.--(BUSINESS WIRE)--June 30, 1999--MDI Entertainment, Inc. (OTC BB:MDIH - news) announced the signing of six new contracts for its Harley-Davidson licensed lottery game, as well as the first lottery to offer its Catalog/E-Commerce Lottery Prize Shop.
The Lotteries that have recently introduced or soon will be introducing a Harley-Davidson game or promotion are: Rhode Island, New Hampshire, Arizona, Connecticut, Pennsylvania and New Jersey. The total guaranteed revenue to MDI of the contracts exceeds $2 million. It marks the second Harley-Davidson experience for both New Jersey and Pennsylvania.
In addition, the New Jersey Harley game ''Ticket to Ride'' marks the first time a lottery will debut MDI's Lottery Prize Shop.
The Lottery Prize Shop affords players who don't win cash or a merchandise prize the opportunity to use their $3.00 ''Ticket to Ride'' tickets as a $3.00 coupon off the purchase of Harley-Davidson merchandise. The merchandise will be available through a special catalog distributed by the lottery and through a special Web Site NJ.lotteryprizeshop.com. MDI will share 10% of its revenue from the Lottery Prize Shop with the New Jersey Lottery.
Commenting on this third-chance opportunity, New Jersey Lottery Director Virginia Haines stated, ''We are excited about introducing MDI's Lottery Prize Shop to our players. The concept of every ticket having a value to the player of MDI's various licensed brands is consistent with our goals of providing as much value and fun to our players as possible. We are also hoping it will provide additional revenue for education and institutions in New Jersey.''
MDI's President & CEO Steven M. Saferin stated, ''The introduction of the Lottery Prize Shop in New Jersey marks the first step in MDI's E-Commerce and catalog sales strategy. We are delighted to be partnering with the New Jersey Lottery on this effort and look forward to expanding our Lottery Prize Shop efforts in the coming months.''
MDI specializes in creating, marketing and implementing entertainment-based promotions to the North American lottery industry. MDI revolutionized the lottery industry with its introduction of second-chance merchandise prizes. MDI's current lottery promotions include scratch games featuring properties such as Dick Clark's American Bandstand, James Bond 007, Times Square 2000, Harley-Davidson, Twilight Zone, Star Trek and Betty Boop.
The Private Securities Litigation Reform Act of 1995 provides a ''safe harbor'' for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by MDI) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the lottery industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of MDI. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors.
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Contact:
MDI Entertainment, Inc.
Steven Saferin
(860) 527-5359
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