E-Casinos International Approved for an Offshore Virtual Casino Wagering License
Vancouver, BC, Canada, -- July 14, 1999 -- VentureTech, Inc. [OTC BB: VTEH], an Idaho
Corporation, is pleased to announce that its wholly owned subsidiary, EuroAsian E-Casinos
International Ltd. (E-Casinos International) has been approved by the Government of Antigua for an
Offshore Virtual Casino Wagering License. E-Casinos International, an Antigua based International
Business Corporation, expects to launch its first Internet gaming web site [www.asiacasino.com] for
real-money on or before July 20, 1999 concurrent with the filing of all requirements with the Antigua
Free Trade Zone. The asiacasino.com web site will primarily be marketed to the lucrative Asian
gaming market, but will be accessible from all parts of the world with the exception of the United
States and Canada. Until such time as the laws regarding online wagering in these jurisdictions are
clarified, E-Casinos International has elected not to accept wagers originating from these areas.
E-Casinos International has licensed its software technology from Softec Systems Caribbean Inc.
(Softec), a wholly owned subsidiary of Starnet Communications International Inc. [OTC BB: SNMM].
Under the technology agreement, Softec will supply E-Casinos International with a customized, full
service Internet gaming system where customers will be able to place wagers for real money on
casino-style games of chance, pari-mutuel racing, and at its international sportsbook. E-Casinos
International intends to operate multiple Internet gaming web sites around the world with varying
cultural themes to appeal to a broad spectrum of international players.
Mr. Art Rosenberg, Chief Operating Officer of VentureTech commented: "With the launch
of our first online casino, we can now begin to realize our vision of becoming one of
the premier players in this industry. As a founding member of the Interactive Gaming
Council, we expect to help set the standard by which all Internet gaming companies will
be judged. Asia Casino is but the first step on a long road toward becoming a broad
based gaming provider."
VentureTech is a high technology investment and finance company licensing leading edge technologies
for emerging or developing business opportunities. The company's primary focus is on the exploding
business ventures evolving from the rapidly growing Internet. VentureTech, through its wholly owned
subsidiaries, has positioned itself to take advantage of two the fastest growing and sizable sectors of a
worldwide economy* the Internet and gambling. Virtual casinos are the new frontier of gambling
with an almost unlimited market potential.
To receive further corporate information: Investor Relations: Toll-Free (800) 488-7151 or visit
www.vteh.com.
Corporate & Joint Venture Information: Contact Mr. Art Rosenberg, VentureTech: 703-471-5623.
The above statements in regard to VentureTech, Inc. and E-Casinos International which are not purely historical
are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including
VentureTech, Inc. and E-Casinos International's beliefs, expectations, hopes or intentions regarding the future. All
forward-looking statements are made as of the date hereof and are based on information available to the parties
as of such date. It is important to note that actual outcome and the actual results could differ materially from
those in such forward-looking statements. Factors that could cause actual results to differ materially include risks
and uncertainties such as technological, legislative, corporate and marketplace changes.
|
