Our new stock pick is NRAG! We are giving it a strong buy rating up to $0.40. This is a major short term momentum play, because thoughout this week...they will be featured at a major gaming convention! NRAG is expected to be the shopstopper. They already got a contract for their ThunderBolt Bingo...and after this convention, will likely sign many more. The revenues and earnings potentail is huge! This should make a major move in both the short and long term.
Here is our company profile...
Noram has many exciting projects however, Currently Noram Gaming is
displaying its New Thunderbolt Bingo ( The star of the company project
list) game at the Las Vegas Gaming EXPO Sept 23- 25 , the largest of its
kind, with over 700 exhibitor's on site.
NorAm has participated in two other gaming shows recently and according
to the company was the star of the show and are expecting nothing short
of the same at this one.
Noram is currently in the process of installing its first placement,
with many other's, rumored to have been inked already and just not
announced. NorAm is taking a conservative approach to the marketing of
this product as they want to make sure everything is in order prior to
making any Major moves in terms of placements. Expect this to change in
the very near term as the first placement comes on - line the much
needed data will then be available. Once the data is in Hand NorAm has
stated " Placements are not a problem " .
One of the most interesting parts of this potential investment is the
mirror image it reflects of Anchor Gaming (SLOT ) in its early days.
Noram is placing this equipment on a revenue share basis only, just like
they did. The Revenue generated from this game will come from the ante,
so win lose or draw for the player, NorAm always wins.
The company currently shows 15.5 million shares issued ( approx)
And a current float of approx 7.5 - 8 million shares, a recent
shareholdertalley has provided numbers reflecting a 45 % reduction in
the available float as it is held by long term holders ( in excess of 8
months).
noramgaming.com
member.aol.com
quote.yahoo.com
NORAM GAMING & ENTERTAINMENT CO.
BACKGROUND
NorAm Gaming and Entertainment was founded in 1995 as a public company.
From inception, NorAm's purpose and direction has been the acquisition
and development of products and services for the bingo industry.
The Company has not engaged in an IPO or any type of secondary offering.
The management of the Company has more than 60 years combined experience
in bingo, primarily in the area of Charity Bingo.
When the Company became a publicly trading in mid-1995, the initial
assets sold into the Company were three operating bingo halls in
Florida. These facilities are located in the Tampa-St.
Petersburg-Clearwater area. The Company continues to operate these
Charity bingo halls.
Although the original intent of the Company was to expand it's
operations in the Charity bingo area, it quickly became obvious that the
direction of gaming was changing and Charity bingo was losing it's
market share to the rapidly developing Indian Gaming, Riverboat and
Casino interests that were springing up all over North America. These
new and exciting facilities provided the gambler with opportunities that
Charity Bingo could not compete with. Unlimited bingo prizes, table
games and best of all for the gambler, Slot Machines. NorAm knew that
to survive it must adapt to the new surroundings, and become part of the
emerging industry or die on the vine in the Charity bingo business.
NEW OPPORTUNITIES
Realizing the fact that bingo was on the upswing in every venue except
the Charity market, NorAm set out on a course in 1997 that was designed
to utilize the vast experience the management team in Charity Bingo
while turning the Company's attention to the more stable and lucrative
gaming markets on a world wide scale.
BINGO EQUIPMENT
In June 1997, NorAm signed a contract with Vaprel Valenciana DeProductos
Electricos, S.A., (Vaprel),of Valencia, Spain awarding NorAm the
exclusive right to distribute Vaprel products in North America. Vaprel
is the worlds largest and most renown manufacturer of automated bingo
products.
The Vaprel line of equipment provides both leading edge technology and
eye catching appearance. Vaprel manufactures both 90# and 75# bingo
equipment. While the 75# bingo is by far the dominant game in the North
American market, the 90# system is the game of choice in the most of
the other global markets. NorAm intends to promote the 90# Spanish
type bingo system in North America.
According to a March 1998 article in International Gaming and Wagering
Business, bingo is experiencing a revitalization in many venues
including the casinos of Las Vegas. Bingo is taking a new role as a $5
billion revenue source and traffic builder in the mega casinos and
gaming facilities of North America. The $35 million bingo equipment
market is now growing 20% annually.
With the introduction of 90# Bingo, the upscale casinos now have an
opportunity to offer bingo that blends in with their plush surroundings.
With the 90# system, patrons are treated to soft padded chairs, round
tables, food and beverage service and the choice to play for as long as
they like. Each game takes about 6 minutes to play, and the players are
free to choose to play or not. The major advantage for the house is
that the 90# system is pari-mutual.
NorAm has recently (August, 1998) opened a showroom in Las Vegas to
demonstrate the Vaprel line of equipment.
THUNDERBOLT BINGO
The Company has also entered into a joint venture agreement with World
Touch Gaming, Inc. of Norcross, Ga., for the development and
distribution of a new Class ll video bingo game called ThunderBolt
bingo.
ThunderBolt Bingo is a unique 3 number game that has been successfully
operated by a number of Native American gaming facilities under various
names, since 1988. Until NorAm and World Touch were able to merge the
technology of the Vaprel Auto Caller 2000 blower system with the
software product provided by World Touch, the game had been operated in
a manual format exclusively.
ThunderBolt Bingo is expected to produce revenues of approximately $20
million for the partnership by the end of 1999.
The Company has a complete description of the ThunderBolt system
including the playing format on their web-site at www.noramgaming.com.
SOUTH AMERICAN-LOTTERY AND GAMING OPPORTUNITIES
NorAm has been active in South America for the past two years. The
Company is currently exploring opportunities for the placement of the
ThunderBolt system and various lottery installations in Peru, Venezuela
and Bolivia.
NorAm has engaged the exclusive services of Atty. James Gagel to
represent the interests of the Company in South America.
The Company expects to be actively engaged in at least two major gaming
enterprises in South America by the end of 1999.
MANAGEMENT AND KEY PERSONNEL
George C. Zilba, CEO, Chairman
For the past 30 years, Mr.Zilba has owned and operated management
companies dealing primarily with the Charity Gaming Industry. In
addition to having been recognized on numerous occasions for his
contributions to the successful fund raising activities of national
organizations such as the American Red Cross, St. Judes Childrens
Hospital and the National DECA Association, Mr. Zilba has also served as
a member of the Board of Directors for many local non profit
organizations.
His companies assisted over 300 charities and nonprofit organizations in
developing and operating successful bingo facilities in eight states.
More importantly, Mr. Zilba has the ability, foresight and understanding
to assemble several specialized corporate partnerships to maximize
NorAm's business opportunities without sacrificing operating risks.
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