More good news I see. I guess at some point in the near future the stock might reach critical mass and then......hehehe
STARNET & ONTARIO JOCKEY CLUB EMBARK
ON INTERNET HORSE RACING SIMULCAST &
WAGERING VENTURES
Wilmington, DE, April 7, 1998 - Starnet
Communications International Inc. (NASD OTC-BB:
SNMM) ("Starnet") is pleased to announce that two of
its subsidiaries have entered into a Letter of Intent
outlining a strategic alliance with the Ontario Jockey
Club ("OJC"), which encompasses netcast coverage &
on-line wagering on the OJC's horse racing events, and a
Joint Venture to further develop both parties' on-line
pari-mutuel wagering technologies.
Established in 1881, the OJC is respected worldwide as
one of the most innovative organizations in horse racing.
The OJC owns and operates two year-round horse
racing facilities: Woodbine Racetrack in Toronto,
Ontario ("Woodbine") and Mohawk Raceway in Milton,
Ontario, which jointly host over 400 live horse racing
events per year. The OJC pioneered Canadian simulcast
horse racing coverage via closed-circuit television in
1980. Woodbine is home to The Queen's Plate, North
America's oldest continuously-run Thoroughbred stakes
race; Woodbine also hosted the prestigious Breeders'
Cup in 1996.
Under an Internet Simulcast Agreement, horse racing
events from the OJC's facilities will be broadcast on
Starnet's Internet gaming site, WORLD GAMING
(http://www.worldgaming.net). World Gaming patrons
will have full access to the system's features, including
up-to-the-minute track, program and handicapping
information, and live racing coverage. Viewers residing
outside of North America will be able to place
up-to-the-post bets on the outcome of the OJC races.
World Gaming, a wholly owned subsidiary of Starnet, is
licensed in Antigua, West Indies to accept and process
wagers via the Internet. In addition to pari-mutuel
wagering, the multilingual World Gaming system
features virtual casino games, a Sportsbook with live
odds feeds from Las Vegas and Europe, a virtual bingo
hall and an international lottery ticket brokerage.
In the interest of advancing its Internet pari-mutuel
wagering technology, Starnet Communications Canada
Inc. ("Starnet Canada," a wholly owned research and
development subsidiary) will develop such technology
with the OJC (http://www.ojc.com) under a Joint
Venture Agreement, for future use by either party.
Under the terms of the Joint Venture, Starnet Canada
will provide Internet commerce & marketing
consultation on the OJC's current business applications,
and the OJC will consult Starnet Canada on the
management of pari-mutuel wagering systems.
PC Computing magazine has estimated that the Internet
gaming market could reach $20 billion US in annual
revenues by the turn of the century.
Starnet (http://www.starnet.ca) is a fully reporting,
publicly traded interactive entertainment company,
which identifies and commercializes Internet
technologies for established markets.
For further information, please contact Starnet Investor
Relations:
Toll-Free: (888) 777-6458
Telephone: (604) 685-7619
Facsimile: (604) 684-0391
E-Mail: ir@starnet.ca |
