News Release - Oct. 22/97
Starnet Communications International Inc.'s Subsidiary - World Gaming Services Inc. - Commences Internet Gaming Operations
October 22, 1997 09:18 AM
VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 22, 1997-- Starnet Communications International Inc. SNMM is pleased to announce that World Gaming Services Inc., a wholly-owned subsidiary based in Antigua, West Indies, has commenced real-money gaming operations on the Internet.
World Gaming Services Inc. has developed a gaming operation which is engaged in the business of accepting, processing and managing monetary wagers through the Internet. Features of World Gaming include wagering on the outcome of international sporting events, the distribution of international lottery tickets, and interactive, casino-style games of chance, including black jack, roulette, video poker, pai-gow poker and progressive slots. World Gaming also broadcasts live horse-racing (no wagers currently accepted) from the Ontario Jockey Club's Woodbine Racetrack in Toronto, Canada.
EFS Caribbean Inc. , another wholly-owned Starnet subsidiary based in Antigua, has been engaged as the secure transactions processor for the World Gaming system. EFS Caribbean, through its transaction gateways with major banks, processes reciprocal conversions of international currencies into Internet "V-Cash."
With the security of the EFS Caribbean network, World Gaming intends to capitalize on the substantial global demand for wagering by capturing a percentage of the Internet gaming market; USD $13.2 billion in on-line wagers are projected in 1998 for Europe and Asia alone. These two markets shall be the company's initial targets.
Starnet Communications International Inc. is a high technology investment and finance company which identifies and commercializes Internet technologies to penetrate established markets.
The statements in this press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 and is subject to the safe harbour created by these sections. Actual results may differ materially from the company's expectations.
For more information contact the company at:
Tel: (888) 777-6548 ÿÿÿ Fax: (604) 684-0391
ir@starnetinternational.com
starnet.ca
starnetinternational.com |
