LASV Enterprises, Inc. Commences Negotiations with World Lottery Operator
SURREY, British Columbia, May 2, 2001 (BUSINESS WIRE) -- LASV Enterprises, Inc. (OTCBB: LASV chart, msgs), lasv.net , announces the commencement of negotiations with one of the largest lottery operators in the world to assist LASV in the initial set up and overall operations of the lucrative National Lottery in the Russian Federation.
Press-Loto, a Russian company jointly owned by Rugby National Corp. (100% owned by LASV Enterprises, Inc.) and the Union of Journalists, each holding 50% of the Press-Loto organization, hold the sole National Lottery License. The division of revenues are as follows: Rugby National Corp. 17.5%, Union of Journalists 17.5%, 50% Prize Allocation and the remainder of the 15% has been assigned for Expense Allocation.
Based on the current projections it is estimated: first year gross sales of $500 million, and second year gross sales of $1.5 billion. Fifth year gross sales are projected at $5 billion, conservatively. The Russian Federation consists of 22 major market areas. Expansion over the five year term will encompass 45,000 terminals throughout these 22 regions servicing an increasing population of approximately 200 million.
National Lotteries have spread throughout North America and much of Europe. Comparing, gross sales for the year 2000 (in billions $) in Massachusetts $3,697.97, New York $3,629.26, Texas $2,657.29, California $2,598.38, Florida $2,324.39, Georgia $2,313.55, Ohio $2,209.10 comprising a total of $37,760.89 with a population of 246.85, to the total Canadian gross sales of $8,361.13 and a population of 40 million, and it has been reported the lottery in the United Kingdom has done in excess of $15 billion in sales in the year 2000, substantiates the unlimited potential of the market in the Russian Federation. National Lotteries which commence anywhere in the world are successful.
The Russian Federation is one of the largest independent countries, encompassing eleven time zones with a current population of 170 million. This untapped market lays home to Moscow, the capital city and the second largest city in the world, with an estimated population of 12 million and an additional 10 million located in the suburbs surrounding Moscow. Nizhy Novogorod, Russia's third largest city, has an estimated population of 2.5 million with another 2 million in the surrounding suburbs. The initial phase of operations will consist of the installation of 500 lottery terminals within Moscow during the year of 2001.
LASV is extremely excited with the negotiations and the anticipated commencement of operations in the immediate future. The potential to capitalize as the sole player of this upward climbing market while enhancing shareholder value will further ensure the rapid growth of the company.
Contact:
LASV Enterprises, Inc.
Robert Abbott, 604/541-6253 |
