This is getting interesting...
Starnet Communications:
Internet Gambling Pioneer Switches to Starnet Technology
WILMINGTON, Del.--(BUSINESS WIRE)--Aug. 27, 1998-- Starnet(OTC:SNMM - news) Starnet Communications International Inc. (NASD
OTC-BB: ''SNMM'') (''Starnet'') is pleased to announce that it has licensed Softec technology to the Internet's original gaming operation - Internet Casinos Inc. (''ICI'').
ICI (www.casino.org), a private corporation based in Belgium, claims to have generated US $120 million in revenues since accepting its first Internet wager on August 15, 1995. ICI
founder Warren Eugene, who has been interviewed by TIME, The Wall Street Journal and Playboy, has also acquired a position in Starnet on the open market.
''We're changing to the Softec package because the software's beautiful and the network systems are robust,'' commented Eugene. ''We're comfortable with Starnet's upstanding profile
in the industry...the more credibility online gambling earns, the better off we'll all be.''
ICI will be provided with thre virtual Casino games, a Sportsbook with real-time odds fed from Las Vegas and Europe, a virtual Bingo hall, an international lottery ticket brokerage and
simulcast horse racing. ICI's customers will be able to place wagers via the Internet using a secure financial transaction system. ICI's systems will be operated as ''Casino of the Sea,''
''Casino of the Clouds'' and ''Casino Havana.''
Softec Systems Caribbean Inc. (www.softecsystems.com) is a wholly owned Starnet subsidiary, which licenses its Internet gaming technologies to independent operators in exchange for
participation in the licensees' revenues. Softec now has eleven licensees.
The Financial Times has estimated that the Internet gaming market will yield annual net earnings of US $10.2 billion by the year 2002. Forbes magazine has described Starnet as ''the
Microsoft of casino software vendors.''
Starnet is a fully reporting, publicly held company, which identifies and commercializes Internet Technologies for established entertainment 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 harbor created by these sections. Actual results may differ materially from Starnet's expectations. |
