MAJOR NEWS ON OGPS......WOW.....
Omicron Forms Strategic Alliance With Korean Software Developer
Omicron Forms Strategic Alliance With Korean Software Developer
BELLINGHAM, Wash., Aug 12, 1999 (BUSINESS WIRE via COMTEX) --
OmicronTechnologies, Inc. (OTC BB:OGPS) and its subsidiary Cyberweb
Systems have formed a strategic alliance with Fairwind Technologies
Ltd., a Korean-based developer of "Next Generation" gaming software.
Fairwind has developed a dynamic, interactive, multi-player Internet
gaming platform. Players can chose Avatars or representative characters
with different facial expressions to play in a variety of games. These
interactive casino games include chat, private chat-rooms and
multi-player private game rooms where participants can schedule to play
against each other.
The company has completed a letter of intent with Fairwind for the
exclusive development and marketing of this "Next Generation" gaming
software. A final agreement is expected to be completed within the next
several weeks. This alliance allows Omicron to expedite the delivery of
its own gaming software while continuing to concentrate on the
development of MaXuM Bingo and other new interactive gaming products.
Live beta testing of the customized interactive casino software is
anticipated to begin on November 1, 1999.
Omicron expects to sub-license over 50 Internet casinos within the next
six months. The projected revenues from these sub-licensees will be
more than $30 Million per year or $50,000 a month per casino. The
development of Omicron's own ten unique, targeted, theme-based casinos
within the next year, including the Lucky Eight Casino
(www.luckyeightcasino.com), should generate additional revenues
exceeding $24 million per year. Combined with its estimated online
bingo revenues of $26 million, Omicron's management anticipates total
revenues in excess of $80 million in 2000 from its casino and bingo
operations.
Datamonitor projects worldwide Internet gambling revenues to grow to
$10.2 billion by 2002, double the money wagered in Las Vegas last year.
Omicron's management believes it is extremely well positioned to
capitalize on the incredible growth expected in the Internet gambling
industry as awhole.
Omicron is committed to become a preferred supplier of online gaming
systems and a leader in the Internet gaming industry. Competitors in
this industry include: Bingo.com Inc. (OTC BB:BIGR), Bingo & Gaming
International Inc. (OTC BB:BING), New Discoveries Publishing Corp. (OTC
BB:NWDP), Casinolive.com (OTC BB:YBET), Cryptologic (TSE:CRY), GLC
Limited (Nasdaq:GLXW), Starnet Communications International Inc. (OTC
BB:SNMM), GIC Global Entertainment Corp. (OTC BB:GGNC) and YouBet.com
(Nasdaq:UBET).
Omicron Technologies, Inc. is in the business of acquisition, research
and development, and marketing of leading edge technologies for the
Aerospace, Telecommunications, Defense, Consumer Electronics and
Internet-based business concepts. Through the combined strategy of
focusing on marketing niches and speedy development of its proprietary
technologies, Omicron hopes to gain significant market penetration in
these areas.
For further information, contact us toll free at:
Telephone: 877/903-2288
Web sites: www.omicrontechnologies.com
www.4value.com
www.market-infocom.com
www.thesubway.com
OMICRON TECHNOLOGIES, INC.
Barrett Sleeman, President
NOTE: Safe Harbor for Forward-Looking Statements Except for
historical information contained herein, the statements in this news
release are forward-looking statements that are made pursuant to the
safe harbor provisions of the Private Securities Litigation Act of
1995. Forward-looking statements involve known and unknown risks and
uncertainties that may cause the company's actual results in the future
periods to differ materially from forecasted results. These risks and
uncertainties include, amongother things, volatility of prices, product
demand, market compensation, risk inherent in the company's
international operations, imprecision of reserve estimates and the
company's ability to replace and expand reserves.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Omicron Technologies, Inc.
Barrett Sleeman, 877/903-2288
www.omicrontechnologies.com
www.4value.com
www.market-infocom.com
www.thesubway.com
WEB PAGE: businesswire.com
GEOGRAPHY: WASHINGTON INTERNATIONAL ASIA PACIFIC
INDUSTRY CODE: COMPUTERS/ELECTRONICS
COMED
INTERACTIVE/MULTIMEDIA/INTERNET
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