Hi Lola, hi Osprey,
I hate to tell you but this idea is not as new as you may think :-(
Atlantic International Entertainment, Ltd. Announces Licensing Agreement With The LAC Vieux Desert Band Of Lake Superior Tribe Of Chippewa Indians (LVD) For Proprietary Internet Bingo System
Atlantic's Technology Assists The LVD Tribe In Offering Class II Bingo To A World-Wide Internet Audience
BOCA RATON, Fla., Aug. 23 /PRNewswire/ -- Atlantic International Entertainment, Ltd. (OTC Bulletin Board: AIEE - news) announced today that it has entered into a license agreement with the Michigan-based LAC Vieux Desert Band of Lake Superior Tribe of Chippewa Indians (LVD) for its Internet-based Bingo System, Bingo Blast. The LVD Tribe is a licensed, controlled and regulated Internet on-line Bingo Operator. The license calls for up front fee's with monthly revenue streams. Specific financial terms were not disclosed.
AIE President & CEO, Richard A. Iamunno, stated, ``The licensing agreement with the LVD Tribe is significant for Atlantic on a number of fronts. First, the economic agreement strengthens our high margin, recurring revenue model that began its momentum in our recently reported June quarter. Second, in keeping with our internal criteria, the Tribe operates in a regulated environment and will be implementing the system under a valid Class II license. Third, this agreement marks our second system licensed to a Native American gaming operator and underlines the growth potential for our systems in this relatively unoccupied and growing marketplace.' Iamunno added, ``We plan on working closely with the tribe to reach a global customer that would never have been exposed to their unique brand of gaming without our technology.' |
