AMERICAN ENVIRONMENTAL CORP - Concludes $3,000,000 Contract With Jockey Club De Pernambuco
--------------------------------------------------------------------------------
Story Filed: Monday, August 21, 2000 10:11 AM EST
New York, New York, Aug. 21, 2000 (Market News Publishing via COMTEX) -- American Environmental Corporation announced that the Company has completed a contract with the Jockey Club de Pernambuco RS in Recife, PE, Brasil for the exclusive operation of simulcast transmission of international sports/racing events. The Jockey Club de Pernambuco brings current yearly gaming revenues of $3,000,000 to AEVC based on local racing events only.
Jay Goldberg, CEO, commented as follows: "This is the third contract that we have completed since the July 14, 2000 merger with Carnegie Cooke & Company, Inc., and the fact that this contract produces $250,000 per month is another step towards our goal of opening gaming agencies throughout Brazil. We now have three contracts totaling $10,000,000 per year and we have 12 other contracts which should be completed shortly. I feel that this is a substantial start towards our year 2000 agency goals."
AEVC plans to operate gaming interests throughout Brazil and other South American countries. Additionally, AEVC has exclusive agreements for the satellite and simulcast transmission of racing events throughout Brazil and South America.
Goldberg further commented: "Currently, racing event gaming is limited to local events and the gaming facilities are only open during local events in Brazil. The simulcast transmission allows racing events to be broadcast all year into our agency facilities and also dramatically increases the number of events available on a daily basis. For example, our contract with Pernambuco should automatically triple the gaming events broadcast at this Jockey Club."
Safe Harbor Statement: Except for historical information the matters set forth herein, which are forward-looking statements, involve certain risks and uncertainties that could cause actual results to differ. Potential risks and uncertainties include, but are not limited to, any perceived or actual benefits of the merger, the company's planned gaming operations, the market acceptance and amount of sales derived from the Company's operations, the competitive environment within the Brazilian and South American gaming industry, and the market acceptance and successful technical and economic implementation of the Company's operations.
TEL: 800-262-2331 Jay Goldberg, CEO of AEVC ---------------------------------------------------------------------------------------------------- |
