PWIN news:
(BSNS WIRE) Penn National Gaming Inc. Signs On to Offer Racingo Through Its
Penn National Gaming Inc. Signs On to Offer Racingo Through Its Racetracks And
OTBs
Business Editors
LAS VEGAS--(BUSINESS WIRE)--Sept. 28, 2000--PlayandWin Inc.
(OTCBB:PWIN) is pleased to announce Penn National Gaming Inc.
(Nasdaq:PENN) has signed on to offer the exciting new game Racingo(R)
at their racetracks Penn National Racecourse, Pocono Downs,
CharlesTown Races and eleven (11) Off Track Betting Facilities.
"We are pleased to be the first wagering outlet to sign the Guest
Track Agreement on this exciting new wager," states William Bork,
president, Penn National Gaming Inc.
"Autotote is excited to be at the forefront of this new product.
We believe that Racingo(R) will increase handle for our customers and
add an interesting new wager for the race-going public with the
potential of enormous jackpots," added Brooks Pierce, president,
Autotote Systems Inc.
Stewart Garner, president, PlayandWin Inc., states, "The September
25, 2000 announcement that Penn National Gaming Inc. will act as our
wagering hub, paves the way for us to sign on additional racetracks.
Autotote Systems Inc. and PlayandWin are actively pursuing racetracks
to participate in this national wager."
As per PlayandWin Inc.'s news release dated June 1, 2000, Autotote
Systems Inc. and PlayandWin Inc. will cross-license their software and
intellectual property rights respectively for the marketing of
Racingo(R) at on-track and off-track betting facilities as well as
Fantasy Racingo(R). The term of this contract is for five years with a
further five year renewal upon mutual consent.
The multi-step rollout program will focus initially on the North
American market with an expected launch date in the fall of 2000.
Expansion into international and other gaming markets are envisioned
upon the successful launch of the U.S. version of Racingo(R).
PlayandWin Inc. holds the exclusive license to the Racingo(R)
concept for the Internet as well as North American on- and off-track
versions of Racingo(R). PlayandWin Inc. retains the right of first
refusal to introduce the Racingo(R) concept to other countries and
venues (i.e. cruise ship lines, airlines, Native American gaming and
bingo) from Racingo Investments Ltd. PlayandWin Inc., through its 100%
wholly owned subsidiary Lynx Gaming, is a partner in Racingo
Investments Ltd.
Racingo(R) combines the ease of bingo and the excitement of horse
racing with lottery size jackpots. Racingo is a pari-mutuel,
"Bingo-type" proprietary game with the outcome based on the outcome of
a series of horse races, which is protected worldwide, by trademarks
and patents. As in Bingo, Racingo(R) players bet to form a winning
pattern on a grid. In Racingo(R), the winning numbers are determined
by the outcome of horse or greyhound races.
AUTOTOTE CORPORATION (AMEX:TTE) is the leading integrated supplier
of instant tickets, systems and services to lotteries, the leading
supplier of wagering systems and services to pari-mutuel operators, a
leading supplier of prepaid phone cards to telephone operators and
also is a licensed pari-mutuel gaming operator in Connecticut, Holland
and Germany. Autotote's customers are in the United States and more
than 60 other countries. For more information about AUTOTOTE, please
visit our Web site at www.autotote.com.
This release includes projections of future results and
"forward-looking statements" as that term is defined in Sections 27A
of the Securities Act of 1933 as amended (the "Securities Act"), and
Section 21E of the Securities Exchange Act of 1934 as amended (the
"Exchange Act"). All statements that are included in this release,
other than statements of historical fact, are forward-looking
statements. Although management believes that the expectations
reflected in these forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to have been
correct. Important factors that could cause actual results to differ
materially from the expectations are disclosed in this release,
including, without limitation, in conjunction with those
forward-looking statements contained in this release.
For more information about PlayandWin Inc., please visit our Web
site at www.playandwininc.com.
--30--BMD/ho*
CONTACT: PlayandWin Inc.
Stewart Garner, 905/850-3940
or
Penn National Gaming Inc.
William J. Bork, 610/373-2400
or
Autotote Corporation
Lisa Lettieri, 212/754-2233
KEYWORD: NEVADA CONNECTICUT GERMANY INTERNATIONAL EUROPE
INDUSTRY KEYWORD: ENTERTAINMENT GAMING INTERNET SOFTWARE
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