VIRTUAL GAMING ENTERPRISES, INC. ANNOUNCES JOINT VENTURE, 'CYBER CASINO PLAYER', WITH EBB/USA
FRIDAY, SEPTEMBER 03, 1999 8:53 AM
- PRNewswire
ESCONDIDO, Calif., Sep 3, 1999 /PRNewswire via COMTEX/ -- Virtual Gaming Enterprises, Inc. (OTC Bulletin Board: VGAMD) today announced the purchase of an additional Internet Gaming Site, Cyber Casino Player (CCP) which will be a joint venture operation with EBB/USA the domestic affiliate of European Barter Business (EBB).
Mr. Virgil Williams, President and CEO of Virtual Gaming Enterprises, Inc., states, "This is the second joint venture resulting from the strategic alliance with EBB/USA (PR Newswire/ July 1, 1999). Most notably, Cyber Casino Player will be the first Internet Casino to offer wagering in Global Cash(TM)."
"All currency exchange and processing of Global Cash(TM) will be facilitated by 1st Global Credit Union, a respected European financial institution experienced in multi-currency accounting. Cyber Casino Player is scheduled to be fully operational later this month, as will our other recent gaming sites acquisitions, Casino Royal Carib, Casino Double Diamond and Work-N-Stiff Casino," Mr. Williams added.
Mr. Klaus Heuring, President and CEO of EBB/USA, "We view Cyber Casino Player as the key to the global entertainment market represented by established international trade networks such as EBB, ITEX, BXI, Barter-Card, Barter Plus and others. Collectively, these organizations represent an established client base well in excess of 100,000 members that will now be able to wager on-line from any where in the world and utilize their respective trade currencies which are convertible to Global Cash(TM)."
EBB is one of the world's most experienced, high tech, electronic trade networks, providing access to Billions of dollars of goods and services and has current annual revenues in excess of $200 Million (US).
Virtual Gaming Enterprises, Inc. is in the business of gaming on the Internet and operates a virtual casino at www.classicbet.com and is a Master Gaming Licensee for the Commonwealth of Dominica (PR Newswire / July 7, 1999).
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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