Applied Gaming Solutions of Canada Inc. is Pleased to Announce that the First Ever On-Line Lottery System Installed in Vietnam has Commenced Operations
CALGARY, Aug. 10 /CNW/ - Applied Gaming Solutions of Canada Inc. (AGS) is pleased to announce that the on-line lottery system that it had recently installed in Hanoi has commenced operations as planned.
Sales for both the Lotto 1-2-3 and Lotto 6/36 games commenced on August 9, 1999. The launch began at 6:00 am local time (Hanoi) and ran flawlessly throughout the day.
``The system is running very smoothly. We would like to extend our sincerest gratitude to all the parties who made this project a reality, the Government of Vietnam and its ministries and agencies, the Construction Lottery of the Capital-Hanoi and especially Automated Wagering International (AWI). With the lottery implementation now complete in Hanoi we now can focus the corporation's energies towards phase II, the national expansion starting in Ho Chi Minh City, Vietnam's largest city' said David Aftergood President & CEO of Applied Gaming Solutions of Canada Inc. ``Also, with having a successful lottery implementation under our belt AGS will now vigorously pursue other international lottery contracts.'
AGS the lead partner in a consortium with AWI a division of Anchor Technologies (NASDAQ: SLOT), was originally awarded an exclusive seven year contract on May 28, 1999. This contract to provide all the equipment, software, training and consulting services required to install, implement and train local lottery staff in order to operate a modern online lottery system with progressive game capabilities, took effect on the first day of sales. For this, AGS receives 4% of the gross on-line lottery sales for the first 5 years and 1% of the gross sales for the remaining 2 years of the contract.
AGS estimates the Hanoi Lottery will generate revenues of approximately $40 million for the corporation over the term of the contract.
Applied Gaming Solutions of Canada Inc. provides comprehensive, integrated on-line lottery products around the world. AGS is licensed in the Canadian provinces of Ontario, Alberta and Saskatchewan with other licenses pending, both domestically and internationally. AGS common shares trade on The Alberta Stock Exchange under the symbol AGC.
The Alberta Stock Exchange neither approved nor disapproved the contents hereof.
For further information: David Aftergood, President & CEO, (403)266-8900, Fax: (403) 266-8909, E-mail: davidaftergood@ags.ca |
