NEWS about one of SNMM-license
News article received, Wednesday, July 14, 1999 6:51:15 PM EST
E-CASINOS INTERNATIONAL APPROVED FOR AN OFFSHORE VIRTUAL CASINO WAGERING LICENSE
VANCOUVER, British Columbia, Jul 14, 1999 /PRNewswire via COMTEX/ -- VentureTech, Inc. (OTC Bulletin Board: 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 Bulletin Board: 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 afounding 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 butthe 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.
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