MDIH INTERNATIONAL NEWS!
MDI Entertainment Inc. Signs First International
Lottery Contract
HARTFORD, Conn.--(BUSINESS WIRE)--Jan. 19, 1999--MDI Entertainment Inc. (OTC BB:MDIH - news) announced today that it has been awarded a contract from the British Columbia Lottery Corporation to utilize the MDI-licensed Harley-Davidson lottery promotion.
The contract will generate approximately $190,000 in additional revenue for MDI. It is expected that 2 million tickets will be sold at $2.00 per ticket producing $4 million in sales for the British Columbia Lottery Corporation.
Commenting on the announcement, Steven Saferin, president and CEO of MDI Entertainment Inc., said, ''We are very excited about receiving our first international contract with a non-U.S. lottery. We have targeted the international marketplace as a significant area of growth for our company and we anticipate executing additional agreements in the near future.''
MDI Entertainment Inc. specializes in creating, marketing and implementing entertainment-based promotions to the North American lottery industry. MDI Entertainment Inc.'s current lottery promotions include scratch games featuring properties such as Harley-Davidson, Star Trek, Wheel of Fortune, Twilight Zone and the Rock and Roll Hall of Fame and Museum. A significant aspect of MDI Entertainment'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:
MDI Entertainment Inc., Hartford
Steven Saferin, 860/527-5359
or
The Pinnacle Group
Mark Cohen, 516/773-2477
|
