CasinoBuilders.com Signs LOI to Acquire Global Cash Inc.
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Sept. 30, 1999-- CasinoBuilders.com (NASDAQ OTC BB: CSNO), signed an LOI to acquire Global Cash, Inc., which is located in the Netherlands Antilles, operating as an Internet merchant gateway for e-commerce transactions.
The acquisition will include existing e-commerce client accounts, with growth forecasted to exceed $125,000,000 annually. CasinoBuilders.com will offer the customer friendly Global Cash e-commerce system to the Internet entertainment and gaming industry.
"The acquisition of Global Cash completes our operational strategy to service Internet casino owners with the responsive business solutions they need to be competitive, but more importantly it provides the cornerstone for our strategic growth into "entertaining" e-commerce. All of our five major revenue services (licensing, hosting, software, banking and marketing) are now online and revenue producing. CasinoBuilders.com will now take steps to file our Form 10 to become a fully reporting company," commented Andy Ruppanner, President and CEO of CasinoBuilders.com. He continued, "Our services business model is now paying dividends with continuing sales of gaming software at $200,000 and ongoing license fees at 30%, as well as annuity revenues with margins exceeding 15%. We are now confident of our ability to attain our year-end business plan."
Already known for providing the most entertaining Internet casinos, CasinoBuilders.com plans to extend their high standards to the e-commerce processing sector of the Internet entertainment and gaming industry. In addition to ensuring safety and security of funds, CasinoBuilders.com will initiate new standards in Client service for Internet casinos, including fully protecting any personal information, not selling player's personal information to mailing lists and most importantly, providing accurate and timely payments. Global E-Cash is a legal form of computer-based currency which can be securely purchased with credit cards, wire transfers, and withdrawn ("cashed-out") via credit card, check or ATM.
The Company believes that this industry exclusive financial service enhances CasinoBuilders.com's market leadership. Some companies in the same industry are: Cryptologic (TSE: CRY.TO - news), Casinolive.com (OTC BB: YBET), GLC Limited (NASDAQ: GLXW - news), Starnet (OTC BB: SNMM), YouBet.com (NASDAQ: UBET - news) and GIC Global Entertainment (OTC BB: GGNC).
CasinoBuilders.com provides innovative services to the Internet entertainment industry. The services are designed to provide client segmented or turnkey solutions, and include e-commerce, licensing, hosting, marketing, and operational support services in an ''off-shore'' environment. Recognized for creativity and innovation, the company is dedicated to ''Helping Internet gaming entrepreneurs turn their visions into successful companies.'' For additional information about our company, please visit our website www.casinobuilders.com, or call our Investor Relations Department toll free at 1-877-638-2766.
Please note: Included in this press release are ''forward-looking'' statements within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurances that such expectations reflected in such forward-looking statements will prove to have been correct.
Contact:
CasinoBuilders.com
John "CJ" Craig, 1-877-638-2766
www.casinobuilders.com |
