NEWS RELEASE...
12/07 06:19 GGNC Follows Footsteps of Amazon.com With Introduction of
Cybermall within
GGNC Follows Footsteps of Amazon.com With Introduction of Cybermall within Cyberbetz Site; Second Year Wagering Projections Revised to U.S. $500 Million With Gross Profit of U.S. $77 Million
LAS VEGAS--(BUSINESS WIRE)--Dec. 7, 1998--GIC Global Intertainment Corp. (OTC BB:GGNC), a high technology Internet, entertainment and marketing company that markets an on-line sports book and casino at www.cyberbetz.com, announced its expansion plans and revised second year projections for its Cyberbetz site of U.S. $500 million with gross profits of U.S. $77 million.
The company's revised projections are based upon the introduction of a Cybermall within the Cyberbetz site that will duplicate a similar marketing formula to Amazon.com (Nasdaq:AMZN). Over the past year, Amazon.com has blazed the trail for e-commerce on the Web with the sale of books, CD's and tapes and now trades for $188 per share.
The Cyberbetz Cybermall will be marketed as an independent mall on the Internet, but it will be hosted within the Cyberbetz site at www.cyberbetz.com. The Cybermall, which will be marketed under the name "The Winner's Mall" will be linked to a wide variety of other Sports Books, Casinos and Gaming related sites that will inevitably drive heavy Internet traffic to both the Cybermall and the Cyberbetz Sports Book and Casino. The products marketed within the mall will duplicate products seen in shops that surround Las Vegas casinos. The products will be unique and innovative products, in addition to high-end retail and designer name brands.
The introduction of the Cybermall will allow GGNC to open up three additional revenue streams: 1. Diversified "E-commerce revenues" from the Cybermall site. 2. Advertising revenues from name brand manufacturers on the
Cybermall site. 3. Advertising revenues from a variety of name brand manufacturers
and gaming related sites and products on the Cyberbetz Sports
Book and Casino site. James Chu, president and CEO stated, "We will be duplicating the same formula that was successfully introduced decades ago in the hotels and casinos of Las Vegas. Place a casino inside a hotel and surround it with a wide variety of unique specialty products and shops and give people a reason to want to spend their money. First give people the opportunity to WIN money, then give them to opportunity to SPEND it."
Stratford Internet Technologies, an internationally acclaimed, award winning Internet design and marketing company, has been contracted to start designing the e-mall which is expected to make its debut within the Cyberbetz site in the second quarter of 1999.
Industry leaders predict that the industry of "e-commerce" is expected to surpass $260 billion by the year 2002. Similar to Amazon.com, GGNC will be one of the companies to be positioned into this multi-billion dollar industry.
Wall Street Buy Recommendation
The Wall Street Research Group, a company that features undervalued stocks in emerging growth markets, has now listed GGNC as a recommended buy.
Michael A. Furr, president of Wall Street Research Group stated, "GGNC is tremendously undervalued, especially when you consider the huge gains and astronomical P/E ratios given to other Internet related stocks. EBAY, for example, moved from $25 1/4 to $234 within 3 months, BAMM moved from $2 1/4 to $40 within 30 days, AMZN moved from $24 1/4 to $233 within 12 months. The fact is that GGNC is an Internet stock, just like EBAY, BAMM, and AMZN. These stocks and stocks like them are highly susceptible to radical movements in price. GGNC is expected to make a profit this year in a proven industry like gaming. Internet gaming is becoming more and more commonplace as traditional gamblers around the world and the U.S. (currently estimated at 200 million worldwide and 25 million in the U.S.) go online like everyone else. We see Internet gaming stocks as being the next "Hot Sector" to be in. We are bullish about this sector and are aggressively seeking out companies like GGNC with the potential to take advantage of this fast developing industry while they, and this industry, are still in their embryonic stages. This sector is where the next Microsoft, E-Bay or Amazon is likely to be found."
For additional information, see Wall Street Research Group's "recommended buy" listing at www.superstocks.net/gicglobal or call 800/943-2298.
The statements in this press release may contain 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 are subject to the safe harbor created by these sections. Actual results may differ materially from GIC's expectations.
--30--MC/se*
CONTACT: GIC Global Intertainment Corporation
Chris Sargent, (toll-free) 877/442-9467
Irggncwins.com |
