Winners Announces Commencement of Revenue Streams
Business Wire - September 11, 1998 12:04
ST. AUGUSTINE, Fla.--(BUSINESS WIRE)--Sept. 11, 1998--On June 4, 1998, Winners Internet Network, Inc. (OTC BB: WINR) announced the signing of a contract with Interbet Corporation. With the signing of this agreement, WINR granted Interbet the right to be the first Internet Casino to utilize the WINR Internet financial structure. When this contract was signed between both parties the target date for both companies was to coincide with the first part of July 1998. Due to the fact that both companies are striving to put out the best product possible, there were unavoidable delays in the program.
WINR later announced that it would be fully operational on or before August 31, 1998 at which time all of its software development and banking development had been competed as of said date enabling WINR to provide its Internet gaming financial structure to be used in conjunction with Interbet Corporation.
At this time, WINR and Interbet have been integrating and thoroughly testing the software for both corporations which will allow players to deposit funds into WINR and then utilize those funds to gamble with Interbet. Currently, Interbet Casino is moving all of their equipment and software to their offshore location. Mr. Skinner, President of WINR, along with Mr. Gary Roffman, President of Interbet, would like to announce that "WINR's fully operational Internet gaming financial software along with Interbet Casino's gaming software, which has been recognized as the No. 1 on-line gaming site by www.gambling.com, will be on-line and fully operational generating revenues for both companies starting October 1, 1998. With a player base that Interbet already has registered and the expanding growth of the Internet gaming industry, WINR estimates that becoming fully operational with Interbet will generate net revenues of approximately 2.2 million in its first year of operation."
WINR would also like to inform that it has been diligent in working with other casino software developers along with other existing on-line casinos to also provide its Internet financial structure. WINR is also set to begin testing with other Casino software which will allow WINR to begin revenue streams with other Casinos shortly after it begins full operation with Interbet Casino.
At the time WINR entered into a contractual agreement with Interbet Casino, the U.S. government was taking a hard-line stance on offshore gambling operations and even arresting the management of companies that catered their gambling operations to the American public. During Mr. Skinner's lengthy discussions with Mr. Roffman, Mr. Skinner learned that Interbet Casino was not going to accept any play from within the U.S. jurisdiction. In conjunction with WINR stating from inception that it will follow all laws and regulations dictated by all government bodies and founded the corporation on the premise that the U.S. could possibly make all forms of Internet gaming for its citizens illegal, Mr. Skinner felt that WINR and Interbet, having the same ideals and principles, would be best suited for the commencement of WINR's operations.
WINR has been striving for the past 2-1/2 years to bring its goals to fruition. WINR entered into a market in which no one had been in before and has been working diligently to bring its ideas to life. WINR feels it has accomplished this task and is ready to bring its fully operational program and all its goals to the world Internet market. WINR also feels that the decisions made within are not only the best that benefit the company but also its shareholders.
CONTACT: Columbia Financial Group Inc.
888/301-6271
Company Web site: cfgstocks.com
or winr.net
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