A press release on the parallel to gaming & Internet stocks was released on the wire this morning from the once defunct World Wide Web Casinos (Netpirates) reorganizing as NWDP. The article makes reference to the parallel between Internet stocks and online gaming. Could SNMM become a $100 stock soon?
Tuesday February 23, 4:59 am Eastern Time
Company Press Release
New Discoveries Publishing Corp. Makes Announcement
LAS VEGAS--(BUSINESS WIRE)--Feb. 23, 1999--Software development company New
Discoveries Publishing Corp. (OTC BB:NWDP) Tuesday 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 chief executive officer of World Wide Web Casinos and a
director of Australian Media Co. (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 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 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.
Michaels said 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. (Nasdaq:XCIT - news) has risen by 90% from $50 to $95; CNET Inc. (Nasdaq:CNET -
news) has risen by 105% from $59 to $121; Infoseek (Nasdaq:SEEK - news) has risen by 80% from $34 to $61 4/8;
Geocities (Nasdaq:GCTY - news) has risen by 102% from $42 6/8 to $86 4/8; (Netscape (Nasdaq:NSCP - news) has risen
by 66% from $42 to $70; Yahoo (Nasdaq:YHOO - news) has risen 232% from $110 to $135; Amazon.com (Nasdaq:AMZN
- news) has risen by 40% from $72 5/8 to $101 7/8; Miscrosoft (Nasdaq:MSFT - news) has risen by 24% from $119 to
$147 6/8; Cisco Systems (Nasdaq:CSCO - news) has risen by 27.5% from $76 TO $97; and Lycos Inc. (Nasdaq:LCOS -
news) has risen by 35% from $65 to $87 1/2.
An advocate for the regulation of Internet gaming, Michaels was instrumental in the creation of Bill C353 in Canada to
amend the Criminal Code (Regulation of Internet Gaming). 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 Corp., a Nevada-based company, was formed in 1993 and approved for public trading
September 1998. It is dedicated to providing high quality, gaming and entertainment with an emphasis on customer service.
For further information, visit the company's Web site at www.webcasinos.com.
Australia 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.
Contact:
Professional Public Relations
Jennifer Parker
Ph: + 61 2 9818 0919
E-mail: jparker@ppr.com.au
or
Melanie King
Ph: + 61 2 9818 0920
E-mail: mking@ppr.com.au
More Quotes
and News:
Amazon Com Inc (Nasdaq:AMZN - news)
Cisco Systems Inc (Nasdaq:CSCO - news)
CNET Inc (Nasdaq:CNET - news)
Excite Inc (Nasdaq:XCIT - news)
GeoCities (Nasdaq:GCTY - news)
Infoseek Corp (Nasdaq:SEEK - news)
Lycos Inc (Nasdaq:LCOS - news)
Microsoft Corp (Nasdaq:MSFT - news)
Netscape Communications Corp (Nasdaq:NSCP - news)
New Discoveries Publishing Corp (OTC BB:NWDP - news)
Yahoo Inc (Nasdaq:YHOO - news)
Related News Categories: computers, internet, ISDEX, networking, retail, software
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