Anyone mention this?
MDIH news-- More states
(PR Wires) DJ: MDI Entertainment Announces Four New State Lottery Conta
DJ: MDI Entertainment Announces Four New State Lottery Contacts Totaling Over
$1 Million and the Arizona State Lottery as a New Customer
HARTFORD, Conn.--(BUSINESS WIRE)--Nov. 23, 1998--MDI Entertainment (OTC
BB:MDIH) is pleased to announced that it has been awarded four new state
lottery contracts. These states include Louisiana, Florida, Virginia and
Arizona. All of the contracts involve the use of MDI-exclusively licensed
properties in the states' instant ticket scratch off games. Additionally,
the company is pleased to announce the Arizona State lottery as their newest
customer.
The lottery drawing and contract with Louisiana will be with the
Harley-Davidson (NYSE:HDI) theme and will result in $300,000 in revenues for
MDI. The Louisiana State lottery is expecting to generate $6 million in
ticket sales through the sale of 3 million tickets priced at $2.00 each.
Describing the details of the game, Louisiana Lottery President Randy Davis
was quoted as saying, "The Harley-Davidson (NYSE:HDI) instant scratch game
has a unique play style, offering numerous cash prizes and three
Harley-Davidson Sportster 1200 Custom motorcycles and approximately 4,200
Harley-Davidson merchandise prizes in a second chance drawing."
The second lottery contract with Florida will incorporate the Wheel of
Fortune theme and will generate $260,000 in revenues for MDI. The Florida
State lottery is expecting $20 million in ticket sales through the sale of
10 million tickets priced at $2.00 each.
The Virginia State lottery will be utilizing MDI's Star Trek theme. The
contract will generate $310,000 in revenues for MDI. Virginia is expecting
$8 million in ticket sale proceeds.
The Arizona State lottery will also be using MDI's Star Trek theme. This is
the first lottery contract MDI has secured with the state of Arizona. The
contract is valued at $254,000 to MDI. Approximately $6 million is expected
to be produced in ticket sales.
Geoffrey Gonsher, Executive Director of the Arizona State Lottery stated,
"We are enthusiastic about the new Star Trek scratchers game for the Arizona
State Lottery. Several states have been successful with the Star Trek game
and we looking forward to working with MDI to achieve the same level of
success."
Commenting on the contracts, President and CEO stated, " As evidenced by
these contracts, we continue to see strong interest and excitement in our
licensed properties from the various state lotteries. The success that these
states are having with our licensed themes is very gratifying. We look
forward to expanding our business with both existing and new customers as
our portfolio of licensed properties continues to grow. Finally, we are
thrilled with our earning a new customer, the Arizona State Lottery, and
look forward to a long-term mutually profitable relationship with them."
MDI specializes in creating, marketing and implementing entertainment-based
promotions to the North American lottery industry. MDI's current lottery
promotions include scratch games featuring properties such as Dick Clark
Productions American Bandstand, Louisville Slugger, Times Square 2000,
Pepsi-Cola, Harley-Davidson, Star Trek, Wheel of Fortune, Twilight Zone and
the Rock and Roll Hall of Fame and Museum. A significant aspect of MDI's
promotion is the awarding of merchandise tied to the various properties as
prizes.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for forward-looking statements. Certain information included in this
press release (as well as information included in oral statements or other
written statements made or to be made by MDI) contains statements that are
forward-looking, such as statements relating to the future anticipated
direction of the lottery industry, plans for future expansion, various
business development activities, planned capital expenditures, future
funding sources, anticipated sales and potential contracts. Such
forward-looking information involves important risks and uncertainties that
could significantly affect anticipated results in the future and,
accordingly, such results may differ from those expressed in any
forward-looking statements made by or on behalf of MDI. These risks and
uncertainties include, but are not limited to, those relating to development
and expansion activities, dependence on existing management, financing
activities, domestic and global economic conditions, changes in federal or
state tax laws and market competition factors.
CONTACT: Alon D. Kutai, investor relations consultant
401-848-7955
09:20 EST NOVEMBER 23, 1998
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