NRAG news:
TOLEDO, Ohio, June 12 /PRNewswire/ -- NorAm Gaming & Entertainment Corp. (OTC-Bulletin Board: NRAG)
announced today that an Agreement has been signed between the Company and Triple Win in Nevada, a privately held bingo
supply company, and Stuart Entertainment, Inc., a public company, (Nasdaq: STAU), for the exclusive distribution of Vaprel
products in the State of Nevada.
Triple Win, Inc., has been a major distributor of Bingo King equipment and products in Nevada, for over seven years. Stuart
Entertainment, Inc., is the parent company of Bingo King, and the largest supplier/manufacturer of bingo products and
equipment in North America.
NorAm Gaming and Entertainment is under Agreement with Valenciana de Productos Electricos, S.A., of Valencia, Spain,
(Vaprel), as the exclusive distributor of Vaprel products in North America.
Triple Win and Stuart have a long established relationship within Nevada and both companies were anxious to become jointly
involved in the representation of the Vaprel line.
The ninety-number bingo system which is played in most parts of the world, provides the player with an upscale environment
and the operator with higher profits. NorAm will also market the new seventy-five number system created by Vaprel for the
traditional North American bingo market.
According to NorAm CEO, George C. Zilba, "The State of Nevada, and in particular, Las Vegas, represents a very important
'showcase' market for the sale of our products in North America. What better place to set up our first major distributorship
than the gambling capital of the world? Additionally, I can think of no better company to be associated with in Nevada, than
Triple Win. In a city where business relationships are built on trust and integrity, Triple Win has established a firm hold on the
number one spot among the casinos and bingo facilities.
"Likewise, we are equally excited about our newly established partnership with Stuart Entertainment (Bingo King). Bingo King,
the most recognized name in bingo in the U.S. and Canada, will quickly open markets for NorAm that would normally take
years to develop.
"Taking into account this wonderful opportunity for NorAm, along with the exciting news concerning the development of the
'Winner Take All' system and the recent forward movement of our South American projects, we are confident that 1998 holds
great promise for the Company and it's shareholders."
The company is also in the process of setting up agreements with other established bingo supply companies in the U.S. and
Canada for the distribution of Vaprel products.
Current estimates for annual sales of all new bingo equipment in the U.S. and Canada is $38,000,000.
SOURCE NorAm Gaming & Entertainment Corp.
/CONTACT: George C. Zilba, CEO of NorAm Gaming & Entertainment,
734-888-1172/ |
