NBET, news out.
BIG DOG
NEWS ---- Tuesday June 30, 6:50 pm Eastern Time
Company Press Release
Agreement for Asian Sports Betting and Casino Games
LAS VEGAS--(BUSINESS WIRE)--June 30, 1998--Netbet Inc. (OTCBB:NBET - news; the ''Company'') Tuesday announced that it has been informed by CSP Ltd. (Casinos of the South Pacific or ''COSP'') that COSP has entered into an Agreement with an Asian company, Shanina Investments (''SI'').
COSP is an offshore on-line Internet casino located in the Cook slands. Netbet has an exclusive Agreement with COSP whereby Netbet receives 80% of COSP's net revenue in return for Netbet supplying technology, marketing and financial consulting to COSP.
SI has developed a sports betting program for Asian baseball games and has under development sports betting programs for Asian Sumo wrestling matches and Asian soccer games. SI's sports betting program is currently being installed at COSP's Internet site in the Cook Islands. In addition, SI, under the terms of the Agreement, is to complete translation and installation of Asian language versions of COSP's existing Internet-based casino games. They will also market and promote these Asian games in selected Asian regions.
The terms of the Agreement between COSP and SI include a 50/50 sharing of net revenues and a marketing/technology interchange.
Don Wright, chairman of Netbet stated: ''The Agreement between COSP and SI is consistent with COSP's focus on Asian markets and is expected to yield significant future revenues to our company through our 80% net revenue sharing Agreement with COSP.''
Netbet develops and licenses Internet technology. The company has an exclusive revenue sharing Agreement with an offshore, on-line casino, Casinos of the South Pacific (www.cosp.com), for 80% of the COSP net revenue. The company provides technology, games and assistance in marketing to its licensees.
For additional information call Pat Charles or Jim Brewer at 800/549-6546.
Netbet is an OTC BB quoted company. Some statements in this news release are forward looking and are subject to certain risks and uncertainties. These risks and uncertainties include but are not limited to economic conditions, changes in laws or regulations, demand for products and services of the company and the effects of competition. These risks and uncertainties could significantly affect anticipated results in the future and actual results may differ materially from any forward looking statements.
Contact:
Netbet Inc.
Pat Charles or Jim Brewer, 800/549-6546
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