Virtual Gaming Enterprises, Inc. Announces Joint Venture, 'Global Shopping Mall,' With EBB/USA
PR Newswire - July 14, 1999 16:00
ESCONDIDO, Calif., July 14 /PRNewswire/ -- Virtual Gaming Enterprises, Inc. (OTC Bulletin Board: VGAMD) and EBB/USA, domestic affiliate of European Barter Business (EBB), today announced their Internet Joint Venture, the 'Global Shopping Mall,' is scheduled to open in early September.
The 'Global Shopping Mall' will be the first Internet Retail and Entertainment Center to provide consumers, on an integrated world-wide basis, with merchants from major Retail Exchanges (EBB, ITEX, BXI, Barter-Card, Barter Plus, etc.) and leading on-line Entertainment Sites.
Mr. Virgil Williams, President and CEO of Virtual Gaming Enterprises, Inc., states, "the strategic alliance with EBB/USA (PRNewswire/ July 1, 1999) is pivotal in our business strategy. The Internet represents the fastest growing segment of retail trade and our partnership, through this Joint Venture, should both dramatically increase our Casino activity and enhance our position as an Internet gaming industry leader."
Mr. Klaus Heuring, President and CEO of EBB/USA, states that, "The 'Global Shopping Mall' will be the market place of the future, where people may buy and sell products and services through personal computers world-wide wherever phone service exists. All transactions will be facilitated and guaranteed by a respected European Bank via Internet utilizing their propriety software, control and accounting systems."
"To date," Mr. Heuring adds, "a total of $3 million dollars (US) has been invested for advertising and marketing campaigns in the Joint Venture. We expect more than 1 million visitors to the 'Global Shopping Mall' during the first few months."
EBB represents the world's most experienced, high-tech, electronic trade network, providing access to billions of dollars in goods and services and has current annual revenues exceeding $200 million (US). Web sites: www.g-bb.com and www.ebb-online.com .
Virtual Gaming Enterprises, Inc. is in the business of gaming on the Internet and operates a virtual casino at www.classicbet.com .
Except for historical matters contained herein, the affairs discussed in this press release may contain forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. These forward-looking statements may reflect assumptions and involve risks and uncertainties that may affect Virtual Gaming Enterprises, Inc. future business and prospects and could cause actual results to differ materially from these forward-looking statements.
SOURCE Virtual Gaming Enterprises, Inc.
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