GGNC News!!!
(COMTEX) B: IGN INTERNET GLOBAL NETWORK INC - Intention to License Ga
B: IGN INTERNET GLOBAL NETWORK INC - Intention to License Gaming Software and
E-commerce System
Vancouver, BC, Feb. 08, 1999 (Market News Publishing via COMTEX) --
Raj I. Chowdhry, Co-Chairman, IGN Internet Global Network Inc. is
pleased to announce it intends to license its Internet gaming software,
Casinos of the World (www.casinosoftheworld.com) and Its financial
transaction-processing system, INTERFI (www.interfl.com). to
third-parties for license fees and a royalty on overall wagers and
transactions-processed. The Company has received numerous inquiries
from around the world to license Its award-winning gaming software.
Management of the Company has recently begun discussions with several
individuals and groups, including in the Middle East and in Brazil, who
have expressed Interest In licensing a custom version of IGN's
proprietary Casinos of the World software. A custom casino would entail
one of two options: a unique graphical "gateway page" to the casino
software, or a completely unique "look" for the software whereby each
licensed casino Includes unique game graphics, sounds and foreign
languages. In either case, game-play would be conducted using IGN's
existing casino Infrastructure - IGN would operate the casino in
exchange for a royalty on all revenues generated, while Its licensee
would act as marketer of the custom casino. The parties Interested in
the gaming software have also expressed interest in making an
Investment in IGN, which would assist In further developing and
marketing its other "channels" and products.
Mr. Raj Chowdhry, President of IGN. stated, "The licensing model
allows the Company to focus on the operation of Casinos of the World
using IGN's existing fixed assets, including our network infrastructure
and our e-commerce system. Our licensees become responsible for
marketing their custom casinos, generating additional revenues for IGN
at no Incremental cost. Alt traffic and game-play would add to our
growing progressive jackpots. In effect creating a global lottery."
IGN's Casinos of the World (www.casinosoftheworld.com) 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 Bight-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'.
IGN's competitors within the Internet gaming market Include
Cryptotogic Inc, (TSE: CRY), Stamet Communications International Inc.
(OTC BB: SNMM), GIC Global Intertainment Corp. (OTC BB: QGNC), GLC
Limited (NASDAQ: GLCCP), Atlantic International Entertainment Ltd. (OTC
BB: AIEE), Cybergames Inc. (OTC BB: CYGA) and Global Games Corp. (OTC
BB: GLOW).
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% In four more years. Forrester Research recently
estimated that worldwide Internet commerce could reach as high as US
$3.2 trillion in 2003. The 1996 Casino & Gaming Business Market
Research Handbook predicts that the Internet gaming market could reach
IGN internet Global Network Inc. is developing a variety of
entertainment, advertising, shopping, financial and broadcasting
"channels" on the World Wide Web.
Cautionary Notice: This release contains forward-looking statements
reflecting the Company's expectations or beliefs concerning future
events which could materially affect Company performance in the future.
The Company cautions that these and similar statements Involve risk and
uncertainties and are qualified by Important factors, including
competitive pressures, unfavorable changes In regulatory structures,
and general risks associated with business, which could cause actual
results to differ materially from those In the forward looking
statement. Forward-looking statements are made in the context of
information available as of the date stated. The Company undertakes no
obligations to update or revise such statements to reflect new
circumstances or unanticipated events as they occur.
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TEL: (604) 689-7779 or 888-689-7779 Jason Van Bergen, Investor Relations
FAX: (604) 682-4768
E-MAIL: jvbergen@ignwin.com
E-MAIL: lnfo@lgnwln.com
INTERNET: www.ignwin.com
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