November 18, 1999 NEWS RELEASE
dot com Entertainment Group Inc.
Olympic Tower, 300 Pearl Street, Suite 200
Buffalo, New York 14202
dot com announces technology partnership with CasinoBuilders.com
BUFFALO, NY: NOVEMBER 18, 1999 - dot com Entertainment Group, Inc. ("dot com") (OTCBB: DCEG) a fully-reporting Internet technology company, announces today that it has signed an extensive preliminary joint venture proposal with CasinoBuilders.com, Inc. of Colorado Springs, Colorado to jointly develop, license and support on-line entertainment Internet technology for use internationally in the Internet Casino and Bingo markets.
dot com will license to the joint venture ("JV") its award winning Internet Bingo technology, which will be re-sold by the joint venture under the name "Bingo Gals(TM)" to clients throughout the world as a segmented software system or as part of a larger software bundle. Depending on the needs and requirements of each licensee, dot com's Internet Bingo technology may be bundled with CasinoBuilders' 3D Avatar Technology, developed by Lost Boys interactive of the Netherlands, or re-sold on its own to existing CasinoBuilders' licensees throughout the world. dot com will own a 25% interest in the joint venture.
CasinoBuilders.com's contribution to the JV will be the technology necessary to license and supply on-line Casino technology. CasinoBuilders will also provide licensing, hosting e-commerce, marketing and related operational support services. All fees and support associated with the joint venture's sale of technology will be shared proportionally by the partners.
CasinoBuilders.com (www.casinobuilders.com) is an Internet technology company that provides client segmented or turnkey technology systems including e-commerce, licensing, hosting, software, marketing and operational support services. The company is recognized for creativity and innovation in the use of Avatar Technology. Today, as a complete turn-key provider, CasinoBuilders.com hosts over thirty Internet gaming sites in legitimate licensing jurisdictions which generate gaming revenues in excess of $3.5 million. CasinoBuilders.com anticipates that dot com's Internet Bingo technology will be well received as an additional revenue model for its existing clients, as well as new clients in the future, especially as the Company plans to extend its popular Internet loyalty awards program, E-Players Club (www.e-playersclub.com) to the Internet Bingo industry, as well.
"This Joint Venture with CasinoBuilders.com will provide the platform to leverage their unique marketing skills and strategic relationships with our product leadership in the area of on-line Bingo technology" said Scott White, President of dot com. "Not only will this joint venture create synergies for both companies in terms of marketing and market reach, but CasinoBuilders' 3D Avatar system will now allow us to penetrate new "enhanced graphics" markets, which may be the future in the area of on-line entertainment systems.
Andy Ruppanner, President and CEO of CasinoBuilders.com stated, "We are a market driven company and we are eager to serve the Internet Bingo market through this opportunity to partner with the best Bingo technology software company in the business. With the combination of leading technologies from both Lost Boys and dot com Entertainment Group, we will be able to offer and serve all global markets with Bingo Gals(TM) which will include the best Bingo technology in the industry. Our goal is to become the leading service provider to the Internet Bingo industry, by providing comprehensive services, including licensing, hosting, software banking and marketing."
Through this joint venture, dot com plans to immediately increase the visibility and use of its on-line Bingo technology, particularly as it anticipates gaining exposure to new markets such as Europe and the Netherlands. With Europe expected to be the fastest growing Internet frontier by 2003 with more than 30% of the Internet's users (see Business 2.0 November 1999), dot com will benefit from CasinoBuilders' relationships in this large growth market. Through its access to CasinoBuilders licensees, dot com will have opportunities to develop new license arrangements for its on-line Bingo technology while the joint venture offers Bingo technology systems which will include the Avatar technology.
The dot com web site can be visited at www.dceg.com. This site has links to the CyberBingo(TM) game system (www.cyberbingo.net), which operates 24 hours per day, 120 games each day, and is played by players from countries throughout the world. dot com has taken steps to expand the reach of its Internet and commercial software throughout 1999 and 2000 to become a leading provider of Internet entertainment software products and services.
FOR FURTHER INFORMATION PLEASE CONTACT:
Scott White, President at dot com Entertainment Group, Inc.: (416) 366-1444 (swhite@decg.com)
Investors Contact: Juan Dominguez & Dian Griesel, Ph.D.
at The Investor Relations Group: (212) 736-2650
This press release may contain forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. |
