Tuesday May 23, 9:35 am Eastern Time
Company Press Release
SOURCE: Virtual Gaming Enterprises, Inc.
Virtual Gaming Enterprises, Inc. Announces Purchase of Five Additional Internet Casinos
ESCONDIDO, Calif., May 23 /PRNewswire/ -- Virtual Gaming Enterprises, Inc. (OTC Bulletin Board: VGAM - news), a fully reporting company, today announced the purchase of an additional five (5) Internet gaming sites, The Flaming Dragon, Porky's, The Good Fortune, The Lucky Leprechaun and The Swinging 70's Casinos.
Mr. Virgil Williams, President and CEO of Virtual Gaming Enterprises, Inc., states, ``The purchase of these five (5) additional Casino sites continues the Company's aggressive expansion program aimed at further enhancing its industry position and increasing VGAM's market share. The Company's Internet 'Gaming Family' has grown from a single site, www.classicbet.com, to eighteen (18) unique casino sites and a sports book partnership, www.vegasbook.com, (PRNewswire February 7, 2000) over the past nine (9) months. The online gaming market is projected to grow from $535 million to more than $10 billion in three years (source: Data Monitor) and the Company is strategically positioned to benefit from the predicted revenue explosion.''
Virtual Gaming Enterprises, Inc. is in the business of gaming on the Internet and operates a family of virtual casinos and is a Master Gaming Licensee for 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.
SOURCE: Virtual Gaming Enterprises, Inc.
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