Players Network Inc. in Pact with Action Gaming to Acquire 20% of Players Network in Content Alliance Investment
$2 Million Investment Will Allow Both Companies 'To Create Mutual Content Alliances and to Cross Market' Says CEO
LAS VEGAS, Oct 18, 2000 /PRNewswire via COMTEX/ -- Players Network Inc. (OTC: PNTV chart, msgs), which operates the gaming entertainment lifestyle portal, announced today it has reached an agreement with Action Gaming, Inc., the largest videopoker games design firm in the world, for Action to invest more than $2 million in Players Network in exchange for gaining access to Players' extensive gaming media library, and to create mutual content alliances and cross marketing using the gaming portal of PlayersNetwork.com and the customer free game site of Action's videopoker.com.
In another similar agreement, Action Gaming recently created an investment alliance with WagerWorks.com, a subsidiary of Silicon Gaming, which will be launching an Internet for-prize casino gaming site marketing the eight premiere casino properties of MGM Mirage, in which Action's game designs of Triple Play(TM), Five Play(TM), Ten Play(TM), and Fifty Play(TM) will be featured videopoker games.
Terms of the agreement call for Action to make an immediate initial investment in Players Network, and to continue to make investments over the next 18 months in a series of exercised option purchases. When completed, Action will have invested more than $2 million in Players Network, and will be entitled to one Board seat on Players Network's five-person Board of Directors. Action Gaming is a privately-held company based in Nevada.
Players Network has recently changed its corporate focus and is now offering high-speed casino gaming programming to telecommunication firms who are developed broadband channels and are seeking content. Players Network continues to expand its in-hotel Players Network Channel of gaming educational programming, as well as production of gaming industry-related videos for both online and offline applications.
"Players Network and Action's content combined compliment each other, creating a dynamic multi-media experience that is perfectly positioned to be the leader in broadband gaming centric content," said Mark Bradley, President and CEO of Players Network Inc. "It is the goal of both Players and Action to create mutual content alliances and to cross market their industry strengths." Ernest W. Moody, President of Action Gaming, Inc., commented with, "We are seeing final realization in the casino and hotel industries that they need an aggressive Internet game plan to attract customers, and a part of that is educating the arriving guest on how to play the games, and to make the casino user-friendly."
Players Network is currently providing a Live Webcast coverage of the World Gaming Conference and Expo, the world's largest gaming convention being held in Las Vegas October 18 - 20th.
Players Network Inc. owns and operates PlayersNetwork.com, a broadband gaming and entertainment Internet Portal, which combines its own originally produced gaming centric content, e-commerce and full-streaming video programming on the World Wide Web. Players Network also operates the first and only 24-hour digital gaming and entertainment cable television channel, which is broadcast directly into hotel and casino guestrooms. Players Network's television and Internet content targets the 300,000,000 people who visit casino destinations worldwide each year by providing them with gaming lifestyle, educational and recreational programs and information.
For more information, visit the Company's Web site at www.playersnetwork.com.
Forward-looking statements made herein are pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that actual results, performance or developments could differ materially from those expressed or implied by these forward-looking statements as a result of known or unknown risks, uncertainties and other factors described from time to time in the company's filings with the Securities and Exchange Commission, press releases or other communications.
Source: Players Network Inc.
Contact:
Mark Bradley, President of Players Network Inc., 702-895-8884,
mbradley@playersnetwork.com; or Ernest Moody, President, or Stephen Grogan,
Senior Advisor, both of Action Gaming, Inc., 702-737-7005,
ceo@actiongaming.com; or Fran Daniels, Investor Relations of Financial
Sciences of America, 310-278-4413, finsci@earthlink.net, for Players Network
Inc.
URL: gemcommunications.com
playersnetwork.com |
