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Starnet Welcomes Three More Internet Gaming Licensees
WILMINGTON, Del.--(BUSINESS WIRE)--Nov. 5, 1998--Starnet Communications International Inc. (OTC BB: SNMM - news; ''Starnet'') is pleased to announce that it has licensed Softec technology to three independent online gaming operations.
''With fourteen operators under license and more to come, Starnet's quickly becoming the world leader in providing Internet gaming technology solutions,'' said Grant Johnson, Starnet's Vice-President of Corporate Development.
COA World Entertainment will operate its Internet gaming system under the name of ''Casino On Air'' (www.casinoonair.com). International Gaming Limited and Giordano World Entertainment Ltd. have yet to name their respective systems. These three licensing agreements were executed prior to Starnet's second fiscal quarter ended October 31, 1998.
Each new licensee will be supplied with a customized, full-service Internet gaming system, including virtual Casino games, a Sportsbook with real-time odds fed from Las Vegas and Europe, an international lottery ticket brokerage and simulcast horse racing. The licensees' customers will be able to place wagers via a secure online financial transaction system.
Softec Systems Caribbean Inc. (www.softecsystems.com) is a wholly owned Starnet subsidiary based in Antigua, which licenses Starnet's ''turn-key'' Internet gaming technologies to independent operators in exchange for participation in a percentage of its licensees' revenues. Starnet's competition within this segment includes but is not limited to Atlantic International Entertainment Ltd. (OTC BB:AIEE - news) and Cryptologic Inc. (TSE:CRY - news).
$10 billion US will be gambled online by the year 2002 (DataMonitor, 06/98). Forbes magazine has described Starnet as ''the Microsoft of casino software vendors.''
Starnet is an Internet software, technology and service company, which commercializes on-line applications for established markets. For more information, please visit www.snmm.com
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Starnet's fillings with the Securities & Exchange Commission.
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