Advanced Gaming Technology Inc. Announces Formation of Internet Travel Company
LAS VEGAS--(BUSINESS WIRE)--Jan. 18, 2000--Advanced Gaming Technology Inc. (OTCBB:ADVI) today announced the formation of TravelSwitch.com, a global Internet-based travel service company.
TravelSwitch.com, a Nevada Limited Liability Company, has three additional Nevada-based members. This new entity is a major step in the company's plan to diversify revenue through implementation of new casino and hotel technology.
TravelSwitch.com will specialize initially in the Las Vegas market through its Las Vegas Web site 777lasvegas.com. The Las Vegas site will begin operations in February 2000. The company intends to establish 777lasvegas.com as a "must-see" for Las Vegas visitors by providing hotel reservations, airfare and car rentals, as well as entertainment, restaurant and gaming information.
During the second quarter of 2000, TravelSwitch.com will begin offering global travel services for additional destinations. TravelSwitch.com will compete with Internet travel providers such as Expedia, Travelocity, Travelscape and Travelnow. Travel services is one of the fastest growing segments of electronic commerce. By offering a robust central reservation system, TravelSwitch.com intends to capitalize on business-to-business commerce as well as consumer transactions.
TravelSwitch.com has formed an alliance with hotelguide.com, publisher of "The Hotel Guide," a popular travel publication that includes information on more than 60,000 hotels. The publication is now available on CD-ROM for consumers and travel agents. The CD-ROM allows customers to research hotel information offline and access the Internet with one click to make reservations.
TravelSwitch.com was founded by veteran Las Vegas hotel executives W. Dan Reichartz and Advanced Gaming Technology president Daniel H. Scott. Reichartz was president and chief operating officer for Caesars Palace, Las Vegas from 1985 to 1996 and has more than 25 years experience in the hospitality industry.
Prior to joining AGT, Scott was senior vice president and chief financial officer of MGM Grand, Las Vegas from 1995 to 1997 and was vice president of finance during 12 years at Caesars Palace.
TravelSwitch.com has launched an aggressive affiliate program emphasizing the business-to-business capabilities of the company's central reservation system. One of the features of the program will allow affiliates to earn commissions by displaying the 777lasvegas.com promotional banner on Internet sites. The banners will be available for immediate download from the site. A preview of the site will be available at www.777lasvegas.com beginning Jan. 21, 2000.
Advanced Gaming Technology will own 22 percent of TravelSwitch.com. The company will continue to pursue the sale of electronic bingo systems. The introduction of TravelSwitch.com is the first step toward diversification of revenue through new product offerings. The company intends to introduce additional technology as opportunities arise.
This news release contains certain forward-looking statements within the meaning of section 21e of the Securities Exchange Act of 1934, as amended and other applicable securities laws. All statements other than statements of historical fact are "forward-looking statements" for purposes of these provisions, including, without limitation, any projections of earnings, revenue, or other financial items; any statements of the plans, strategies and objectives of management for future operation; any statements concerning proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. Such forward-looking statements are subject to inherent risks and uncertainties, and actual results could differ materially from those anticipated by the forward-looking statements.
For affiliate information: www.777lasvegas.com.
CONTACT: Advanced Gaming Technology
Daniel H. Scott, 702/227-6578
or
TravelSwitch.com
Marketing, 702/873-7888 |
