(PR NEWSWIRE) New Discoveries Publishing Corp. Announces CEO
New Discoveries Publishing Corp. Announces CEO
SYDNEY, Australia, Feb. 23 /PRNewswire/ -- Software development company,
New Discoveries Publishing Corporation (OTC-Bulletin Board: NWDP), today
announced the appointment of a control person, Peter Michaels, as Chairman and
Chief Executive Officer.
Michaels, described as a "technological visionary", was instrumental in
the purchase of the company in December 1998.
Michaels is also the founder and CEO of World Wide Web Casinos and a
director of Australian Media Company (AMC). AMC recently signed an exclusive
Memorandum of Understanding with the government of Norfolk Island (an external
territory of Australia) to host an Internet gaming enterprise on the Island.
New Discoveries Publishing Corporation has licensed its Internet gaming
software to AMC and will receive royalties from this arrangement -- projected
revenues could be over $25 million* in the first year.
According to Mr. Michaels, the project will make Internet gaming
accessible to the world's wagering population -- estimated to be worth a
staggering $29.2 billion by the year 2000.
Mr. Michaels says the growth of Internet gaming is being reflected in
investor confidence and predicts stock prices of publicly traded, regulated
Internet gaming companies could parallel those of other Internet stocks
currently trading on Nasdaq. In the past three months, Excite, Inc. has risen
by 90% from $50 to $95; CNET Inc. has risen by 105% from $59 to $121; Infoseek
has risen by 80% from $34 to $61-4/8; Geocities has risen by 102% from $42-6/8
to $86-4/8; Netscape has risen by 66% from $42 to $70; Yahoo has risen 23%
from $110 to $135; Amazon.com has risen by 40% from $72-5/8 to $101-7/8;
Microsoft has risen by 24% from $119 to $147-6/8; Cisco Systems has risen by
27.5% from $76 to $97; and Lycos Inc. has risen by 35% from $65 to $87-1/2.
An advocate for the regulation of Internet gaming, Mr. Michaels was
instrumental in the creation of Bill C353 in Canada to amend the Criminal Code
(Regulation of Internet Gaming). Mr. Michaels has also worked with
governments in Australia, South Africa and other G7 countries to ensure that
Internet gaming sites in these regions offer protection for consumers in terms
of gaming integrity, competitive odds, prompt payment of winnings and fair
dispute resolution when needed.
New Discoveries Publishing Corporation, a Nevada-based company, was formed
providing high quality, gaming and entertainment with an emphasis on customer
service. For further information, visit the company's website at
www.webcasinos.com.
Australian Media Company (AMC) is a privately held Norfolk Island
corporation. AMC has negotiated telecommunications contracts to enable the
delivery of home gaming via the Internet and an interactive satellite
television channel to be produced in Sydney, Australia.
* All dollar figures quoted in US dollars.
SOURCE New Discoveries Publishing Corporation
-0- 02/23/99
/CONTACT: Jennifer Parker, +61-2-9818-0919, or jparker@ppr.com.au, or
Melanie King, + 61-2-9818-0920, or mking@ppr.com.au, both of Professional
Public Relations/
/Web site: webcasinos.com
(NWDP)
CO: New Discoveries Publishing Corporation; Australian Media Company
ST: Australia, Nevada
IN: FIN CNO
SU: PER
*** end of story *** |
