Virtual Gaming Enterprises, Inc. Announces Strategic Partnership With Vegas Book
ESCONDIDO, Calif., Oct. 27 /PRNewswire/ -- Virtual Gaming Enterprises, Inc. (OTC Bulletin Board: VGAM) today announced the purchase of a 20% Interest in Vegas Book, a traditional Sports Book.
Mr. Virgil Williams, President and CEO of Virtual Gaming Enterprises, Inc. states, "the Strategic Partnership with Vegas Book, a traditional Sports Book was the next logical step in our continued aggressive expansion within the gaming industry and a natural adjunct to our 'Online Casino Family'."
Vegas Book offers the sports enthusiast a secure and discrete environment to wager on events globally including American Football, European Football, Basketball, Baseball, Hockey, Boxing and Soccer. Players may choose to access Vegas Book via dedicated toll free numbers and speak with highly trained gaming professionals, utilize fax on demand to receive the latest odds, spreads, parlays and specialty bets, etc., or over the internet directly into the Vegas Book web site.
All communications links are over a private, dedicated, encrypted satellite network with back up redundancy to insure 24 hour per day, 365 day per year client access. This satellite communications network frees Vegas Book from the well-documented difficulties and problems associated with Caribbean telecommunication services.
"Our entire 'Casino Family' will now have, we feel, major competitive advantages. Specifically, players, when they establish an account, are provided a free International Business Corporation (IBC) registered with The Commonwealth of Dominica. The player's personal IBC may then automatically establish a bank account with and be issued a debit card from Dominica's largest private bank. The player can then direct all gaming activity through their personal IBC, which has identity and privacy protection under the Secrecy Laws of the Commonwealth of Dominica. Further, all the player's monies reside in the IBC's bank account, not the casino, adding an increased level of security and safety while allowing for immediate withdrawal or transfer of funds.
"Privacy, security and safety have long been major concerns within the gaming industry and we expect our unique approach will have great appeal to both traditional and Internet gamblers. The online gaming market is projected to grow from $535 million to more than $10 billion in three years (source:Data Monitor) and our company is strategically positioned to benefit from the predicted revenue explosion," Mr. Williams added.
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 Gaming Licensee under agreement with the Commonwealth of Dominica (PRNewswire 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.
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SOURCE: Virtual Gaming Enterprises, Inc.
CONTACT: Communications Group, 888-285-6808, for Virtual Gaming Enterprises, Inc.
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