E-Vegas.com Inc. Announces Telecom Services Project in New Prestigious San Jose Commercial Building
September 13, 1999 - E-Vegas.com Inc. (OTC BB:EVCM) is pleased to announce that they have entered into an agreement to provide full scale telecom and value-added services to the prestigious Torre Mercedes Siglo XXI building in San Jose, Costa Rica.
The new Torre Mercedes Siglo XXI building, which is co-named after E-Vegas.com's Costa Rican subsidiary, will open in December of 1999. Its major tenants are Fortune 500 companies, foreign embassies and E-Vegas.com Inc.'s subsidiary Global E-Comm, S.A. The President of Costa Rica, The Honorable Miguel Angel Rodriguez, will conduct the ribbon cutting ceremony to open the building.
The Company will invest $600,000 US in fibre optics, satellite linkages, and other telecom services and infrastructure to complete the project.
Additional management expertise will also be added to implement this project and complete planning for additional telecom ventures in the region.
E-Vegas.com Inc. estimates $6 million ($US) per annum in service revenues from this project. The net profit before tax is projected to be $4 million ($US).
"This project is just one of the many that are on the slate for development by the Company. We are now positioned at a new level of acceptance and business development with the business and government leaders in the country," stated Ed Gallagher, President of E-Vegas.com. Inc.
The Torre Mercedes Siglo XXI building will become a significant business and social centre in San Jose because it will also be the location of Casa Magna, an elite Banker's club that will cater exclusively to leading financiers, industrialists, investors and leaders of the country. The Casa Magna will include the latest in videoconferencing facilities, multi-media production services, a conference centre, library, as well as a most modern fitness centre.
About E-Vegas.com Inc.
E-Vegas.com Inc. (TM) is a casino and gaming business based in Costa Rica. The first element of its business is the establishment of an online casino and gaming business at www.e-vegasgaming.com .
The Company is also in the process of developing related businesses including telecommunications ventures and e-commerce business that will enhance its overall growth and
profit potential in Costa Rica.
Frost & Sullivan estimate that wagering via the Internet was approximately $1 billion in 1998. Gaming consultants Christinansen/Cummings estimate Internet wagering to reach $2.3 billion by 2001. The Financial Times has estimated that the Internet gaming market will yield annual net earnings of US$10.2 billion by the year 2002.
This press release contains forward-looking statements with respect to the results of operations and business which could be materially different from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission.
Contact:
E-Vegas Gaming
Investor Relations
877-778-7171 Toll Free
604-642-6423 Phone
e-vegasgaming.com |
