Letter to Shareholders
This past year, Software Gaming Corp. (SGC) underwent a variety of positive changes, from the restructure of its management team, to the acquisition of companies whose products broadened SGC's mission to deliver exciting, new, technological, software and entertainment solutions to consumers.
The past year was a period of significant growth for SGC's online entertainment subsidiary, Internet Gaming Corp. (IGC). Cyberspades Online Casino released its live 3D version offering true panoramic gaming environments for players, live chatting and real-time, multi-player table games. Downloads of the casino software grew 60 per cent over last year's figures for June to September, increasing from 1,250 to 2,000 downloads a month. The substantial increase in playership is primarily due to increased marketing initiatives and incentives, and improved targeted Internet placement of banner advertising.
IGC's bingo game product, BingoTown has proven very popular. Through favourable reviews and web-based word of mouth, BingoTown has an estimated 7,000 registered players and receives 40,000 to 50,000 "hits" (web page visits) a month. IGC enhanced the application to provide more interactivity for the end-user and to encourage increased web traffic. True card "dabbing" was added through innovative JavaScript programming where players now "dab" a called number with a mouse-click, as opposed to automated "dabbing". To capitalize on the game's exposure to a varied and ever-increasing web audience, IGC is currently implementing banner advertising opportunities into BingoTown. It is anticipated that BingoTown will be used to generate revenue through online ad sales.
The company continues its initiative to raise the required capital for GlobalWire and its application for Albert's Parlour is still pending approval from the Ontario Jockey Club.
The recent addition of unique and innovative software products to fulfill SGC's promise to deliver sophisticated and user-friendly applications to consumers was met by the acquisition of Beyond 2000 Solutions, Ltd. (B2SL). B2SL produces, markets and distributes easy-to-use PC Y2K fix software and other PC software products unmatched by any other similar product(s) currently on the market.
In conclusion, SGC's management team has established solid financial goals for itself and its subsidiaries' overall potential for growth. The company will continue to increase revenue and to build net income through strategic investments and product expansions.
Dan Amadori
Chairman and CEO
Financial Highlights
(1999 Fiscal Year)
Revenues were generated from the online casino operations.
Management wrote down its investment in several non-performing assets acquired in prior years.
Additional capital was secured through several private placements of the company's common shares.
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Software Gaming Corp. Annual Report 1999:
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Software Gaming Corp.
1446 Don Mills Rd., Suite 100, Toronto, ON Canada M3B 3N6
Tel: (416) 410-4940 | Fax: (416) 410-7348
SGMS OTC: Toronto | investors@softwaregaming.com |
