eLottery, Inc. Appears On Alexander Haig's World Business Review TV Series
BOCA RATON, Fla.--(BUSINESS WIRE)--April 25, 2000--
Discusses the Lottery Internet Style
Multi-Media Productions (USA), Inc. today announced the appearance of Stan Kabala, chairman and CEO of eLOT, Inc. (Nasdaq:ELOT) on World Business Review. The weekly television series focuses on business and technology, and is hosted by General Alexander Haig,chairman of Worldwide Associates, Inc. and former president and chief
operating officer of United Technologies. General Haig is also former U.S. Secretary of State during the Reagan administration. Vinton Cerf,Internet pioneer and senior vice president at MCI WorldCom,participates in the panel discussion as industry expert. The topic of the panel discussion is "Winning e-Novations."
"eLOT, Inc. was selected to appear on the program because they are developing an innovative way to conduct the lottery on the Internet," said Donald Pratt, the show's coordinating producer.
eLOT, Inc.'s, subsidiary, eLottery, Inc., intends to be a web-based retailer of lottery tickets and is committed to leading the governmental lottery industry into the e-commerce market. eLottery has positioned itself to become a leader in the Internet lottery market by addressing
the many complex legal, political and social issues facing
governmental lotteries as they react to the significant market changes signaled by the rapid growth in Internet sales. The Company installs and operates Internet, Intranet, telephone, accounting, banking databases and other applications and services to implement the
electronic sale of existing lottery products and plans to use them as instruments for the activation of eLottery.
eLottery, Inc., believes that electronic distribution of lottery tickets through the Internet will increase sales for lotteries both because this system makes the purchase of tickets easily accessible to a breadth of clientele, and also web-based lottery sales could be a way to gather
detailed information on lottery customers, which currently is untraceable by the land-based systems that are already in place.
eLottery, Inc., also took into consideration that this information could be valuable for developing marketing strategies geared toward various types of ticket purchasers.
Kabala appears on World Business Review to discuss the intricacies of an Internet lottery system. What sets eLottery apart from other online lotteries is that they would provide actual electronic distribution of lottery tickets as an authorized agent of the sponsoring Lottery, you would be able to purchase your tickets instantly by telephone, or over the Internet one of three ways: 1.) Through the sale of prepaid cards by the lottery's traditional land-based retailers, 2.) Through web-based
sales using debit cards, 3.) Through web-based sales using credit cards.
Some state lotteries may see eLottery as a threat to their lottery systems but Kabala thinks other wise, "We believe that our border control technology will enhance their revenues. We bring an entirely new demographic to the lottery...we think that it is complimentary not
cannibalizing." Once states know that there isn't any unforeseen threat to their system, the potential for acceptance is hoped to be a chain-reaction. eLottery, Inc. has already signed contracts under which the Company will become the exclusive web-based retailer for the
Jamaica Lottery and a UK Charity Lottery. Web-based lottery ticket sales are expected to commence in June.
A field report from Norwalk, CT, features Kyle Keehan, director of Jamaica Lottery Company says that eLottery, Inc., has the best system to accommodate their needs, "The bells and whistles that they put into their system (helps) to protect not only the players, (it also helps) to protect us and to protect themselves. They clearly had the best technology and the best well-thought-out business plan for doing that."
Like with many new ideas, there are some major points to consider, like that small question, How does one collect their winnings? Maybe by check or possibly by electronic funds transfer, it really doesn't matter how the winnings are distributed, just as long as you get them.
Still in all the perspectives look good to our expert panelist Vinton Cerf,"I imagine expanding this to two-way pagers or personal digital assistance that are radio linked to the Internet. You can be playing the lottery at anytime, any place, anywhere..."
Taped in Washington, D.C., World Business Review currently airs on PBS The Business Channel, CNBC as paid programming, and in prime business time slots in numerous Public Television markets,including San Francisco, New York, Denver and Miami. The weekly series can also be viewed on TWA, United Airlines or from any desktop computer via AENTV.
World Business Review has been developed into curriculum for college and university-level courses, and is being used in a variety of business and technology courses or within the School of Business libraries at Carnegie Mellon University, Dartmouth College, Duke University, DePaul University, Georgetown University, University of
Florida, City University of Hong Kong, among other distinguished institutions of higher education.
Individual videotapes or continuing education systems (via Indiana State University) are available by calling 1-800-WBR-1032 or by visiting www.wbrtv.com, which showcases featured topics and specific companies' technologies.
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CONTACT: eLOT, Inc., New York
Vince Daniels, Director of Investor Relations
212/758-5496 Today's News On The Net - Business Wire's full file on the Internet
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