(COMTEX) B: IGN INTERNET GLOBAL NETWORK INC - Record Quarter for IGN'
B: IGN INTERNET GLOBAL NETWORK INC - Record Quarter for IGN's Casinos of the
World
Vancouver, BC, Jan. 25, 1999 (Market News Publishing via COMTEX) --
IGN Internet Global Network Inc. is pleased to announce that its
Internet gaming division, Casinos of the World has experienced a record
quarter In its key fiscal measures, with records achieved in wagering
totals, average weekly deposits, and average weekly revenues for the
quarter ended December 31, 1998.
For the quarter ended December 31, the amount wagered in the Internet
casino totalled more than $2 million, an increase of 7% over the
previous quarter. As compared to the previous quarter, average weekly
deposits increased by 16% and average weekly revenues increased by 19%.
Traffic on Casinos of the World has generally been increasing each
month since Casinos of the World officially opened. Mr. Raj Chowdhry,
President of IGN, stated "We are very pleased with the ongoing
increases in our key measures of activity on Casinos of the World. This
indicates Internet gaming aficionados are increasingly recognizing the
superior product that Casinos of the World offers."
The recently released Casinos of the World version 2.3 features a full
complement of popular casino games, including blackjack, video poker,
roulette, video keno and various slot games, including single-line
slots and the only eight-line slots on the Internet. Casinos of the
World also features large progressive jackpots. Casinos of the World's
gaming software has won numerous industry awards, including The
Gambling Registry's 'Golden Seal Award', a '5 Aces award', and Game
Royal's highest honor, its '5 Cards award'.
Gaming research analysts predict on-line gaming to become a US $25
billion market by the year 2002. IGN's competitors within the Internet
gaming market include Cryptologic Inc. (TSE: CRY), Starnet
Communications International Inc. (OTC BB: SNMM). GIC Global
Entertainment Corp. (OTC BB: GGNC), GLC Limited (NASDAQ: GLCCF),
Atlantic International Entertainment Ltd. (OTC BB: AIEE), Cybergames
Inc. (OTC BB: CYGA) and Global Games Corp. (OTC BB: GLOW). Mr. Chowdhry
commented. "Over the past months, the growth potential for the Internet
gaming industry has gradually gained recognition by the public at
large, and Is only beginning to be reflected in the valuations placed
on Internet gaming companies. IGN offers investors an opportunity to
participate in the potential of Internet gaming and the growth
possibilities of a range of additional channels focusing on other
internet businesses."
The potential of the Internet continues to increase each week. With
only 25% of US households having access to the Internet, this figure,
according to research firm Jupiter Communications, is expected to
increase to 55% four years from now. Forrester Research recently
estimated that worldwide Internet commerce could reach as high as US
$3.2 trillion in 2003.
IGN Internet Global Network Inc. Is developing a variety of
entertainment, advertising, shopping, financial and broadcasting
"channels" on the World Wide Web.
-0-
TEL: (604) 689-7779 or 1-888-689-7779 Raj I. Chowdhry, Co-Chairman
FAX (604) 682-4768
E-MAIL: lnfo@lgnwin.com
INTERNET: www.ignwin.com
TEL: (604) 689-7779 Jason Van Bergen, Investor Relations
TEL: 888 689-7779
INTERNET: ivberaenfiBianwin.com
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