Today's News Release from Yahoo: Friday March 6, 1:19 pm Eastern Time
Company Press Release
Starnet Maintains Its Internet Gaming Plan: No Wagers Accepted From North America
WILMINGTON, Del.--(BUSINESS WIRE)--March 6, 1998--Starnet Communications International Inc. (NASDAQ/OTC
BB: SNMM) (''Starnet'') wishes to confirm that its operations remain unaffected by the current legal issues surrounding
Internet wagering in the United States.
On March 4, 1998, the U.S. Department of Justice indicted 14 executives of six Internet sportsbook companies with
accepting wagers from Americans. These charges were laid under the Interstate Wire Act, which prohibits the use of U.S.
telephone lines (telephone, Internet) to operate an interstate or foreign gambling business.
Starnet's Form 10-SB, filed with the SEC on May 24, 1997, states that ''due to the uncertain regulatory environment as it
relates to Internet gaming in the U.S. and Canada, management intends to focus on the market outside of North America until
such time as U.S. and Canadian laws, specifically in regard to Internet gaming, are clarified.''
Starnet's wholly owned subsidiary World Gaming Services Inc. (www.worldgaming.net) operates an Internet gaming system
that holds two licenses in Antigua to accept wagers on virtual casino games, sporting events, international lotteries and
pari-mutuel (horseracing) events. The World Gaming system is configured to detect a customer's origin and ACTIVELY
DECLINE wagers from the U.S. and Canada. North Americans are, however, currently permitted to ''Play For Fun.''
Starnet's management intends to continue with their marketing plan of pursuing European and Asian bettors, who comprise
over 60% of the global gaming market and yield higher per capita gambling expenditures than North Americans. World
Gaming is currently marketed in seven languages, and has been accepting wagers via the Internet since Oct. 22, 1997.
Starnet (www.starnetcommunications.com) is a fully reporting, publicly held interactive entertainment company, which
identifies and commercializes Internet technologies for established markets.
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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 harbor created by these
sections. Actual results may differ materially from Starnet's expectations.
Contact:
Starnet Investor Relations:
888/777-6458
604/685-7619
604/684-0391 FAX
ir@starnetcommunications.com
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Later...Gator |
