Here is the Burnt Church PR! Could be up and running soon.
MINNEAPOLIS (May 22) BUSINESS WIRE -May 22, 1998--Global Games Corp.
today
announced signing a definitive Letter of Intent with the Burnt Church
First Nation of
Miramichi, in the Province of New Brunswick, Canada to develop and
manage their gaming
operations for the next ten years.
Burnt Church First Nation's bingo-plex will be located in a beautiful
new 600+ seat facility
and will be operated under a gaming agreement with the province. Global
Games estimates
the approximate opening date of the new facility will be mid-July this
year.
Global Games President Gary Borglund, after meeting Wednesday of this
week with First
Nation Chief Burton Martin and the Burnt Church Council, stated, "We
were very impressed
with Chief Martin and the principals of this organization. We anticipate
a profitable future for
all parties and look forward to working with the many fine people here."
Pending a final agreement currently being prepared , Global Games will
receive 40% of all
pre-tax net gaming revenues for its management services. Global's
interests in the gaming
operations of Burnt Church will be monitored by a full aboriginal
management board.
Further, Global has retained the oversight services of Mr. Roger D.
Rothe, former Director of
Development at Gaming Corporation of America. Mr. Rothe has extensive
experience in all
phases of the gaming industry and is credited with developing one of the
top five
revenue-generating Native American casinos in the United States.
Mr. Borglund concluded his statement saying, "The opportunities for
mutual benefit have
grown considerably. For example, we discovered during our visit that the
entire Miramichi
area is fiber optic cable ready. This high-tech feature will allow Burnt
Church to soon
introduce Internet gaming to all of Canada and could add significant
revenues to the already
substantial plans we have for gaming in the Burnt Church First Nation
community."
This definitive Letter of Intent covers only the first phase of the
gaming operations
management which Burnt Church has offered to Global Games. Subsequent to
signing a
final agreement, Global Games anticipates collaborating with Burnt
Church to manage other
segments of their gaming operations. Total revenue projections from each
segment of
Global Games management of Burnt Church gaming operations will be
forthcoming pending
the signing of definitive agreements.
Global Games also announced today that current gaming management
negotiations have
resulted in meetings being arranged between Global Games and two
additional gaming
organizations in the Miramichi area. Global Games Corp. (OTC Bulletin
Board: GLOW -
news) is an Internet-based commercial service business providing secure
automated
transaction processing for merchants and Internet customers. Global also
licenses software
for Internet gaming, and, through its Electronic Card Services, Inc.
(ECS) operation also
sells prepaid electronic chat-line cards through ATM-style dispensing
units. Additionally,
Global provides management and consulting services. Global's core
marketing strategy is
to develop "recurring electronic revenue streams" based on targeted
niche markets where
the company's expertise can be leveraged.
This press release contains forward-looking statements which are made
pursuant to the
safe-harbor provisions of the Private Securities Litigation Reform Act
of 1995. Expression of
future goals and similar expressions reflecting something other than
historical fact involve a
number of risks and uncertainties, including timely development and
market acceptance of
certain products and services, successful integration of acquisitions,
the ability to secure
additional financing and the ability to operate within the framework of
available resources.
The actual results the Company achieves may differ materially from any
forward-looking
statements due to such risks and uncertainties. |
