Atlantic International Entertainment, LTD, (AIEE) Announces the Opening of Executive Offices in Sydney, Australia
BOCA RATON, Fla., Aug. 25 /PRNewswire/ -- Atlantic International Entertainment, Ltd. (OTC Bulletin Board: AIEE - news) today used the 1999 Australasian Gaming Show in Sydney as a platform to announce it has opened offices in Australia. Positioned to service one of the world's most avid gaming markets, the office, located in North Sydney, will act as the main headquarters for the entire continent of Australia as well as a hub for future Australasian growth.
Atlantic's President & CEO, Richard Iamunno, stated, ``We have been evaluating the Australian gaming market since 1997 and remain convinced that it is one of the strongest in the world. With the addition of our Sydney headquarters, we are now in position to provide our fully licensed clients with the tools to develop internet gaming, not only in Australia, but in other regions of the Pacific Rim.' Iamunno added, ``The combination of our proven technology, senior staffing, and market knowledge will strengthen our recurring earnings model and afford Atlantic the opportunity to capitalize on this growth opportunity.'
The company also announced today that it has sought board of director approval to change its name to Online Gaming Systems, Ltd. Australia.
Atlantic International Entertainment, Ltd. ( www.aieltd.com ) develops and markets Internet and private network transaction-based products that it only offers to licensed gaming operators in regulated jurisdictions. These products include: Internet Casino Extension(TM) (ICE)(TM), a growing suite of casino games; webSports(TM), a sports wagering system; Lotto Magic(TM), a lottery system for private, government and fund raising purposes; and Bingo Blast(TM), a multi-player system for charity and private organization use. The company also offers wireless and portable gaming devices through its Las Vegas-based Excel Design, Inc., a wholly owned subsidiary.
This press release contains potential forward-looking statements regarding the Company. The future performance of the Company involves risks and uncertainties that could cause actual results to differ materially. Such risks include competition and pricing pressures, dependence on telecommunications carriers, management of growth, customer turnover, technological change, governmental regulation, unauthorized use of technology, system failures and a variety of stock market-related risks. For a more complete description of certain such risks and uncertainties, we refer you to the documents that the Company files from time to time with the Securities and Exchange Commission including 10K filed May 7, 1999 and form 10Q filed May 18,1999.
For Investor Relations please contact: Ira W. Miller or Larry Fortune /
(949) 833-9001
SOURCE: Atlantic International Entertainment, Ltd.
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