RIHI alert:
Thursday February 25, 9:30 am Eastern Time
Company Press Release
WorldNet Casinos Signs Contract with Global Intertainment Corporation
LAS VEGAS, Nev.--(BUSINESS WIRE)--Feb. 25, 1999--Ranes International Holdings Inc. (OTC BB:RIHI - news) under a definitive agreement to merge with WorldNet Casinos (WNC) and trade under a new symbol, announced WorldNet Casinos has finalized a license with Global Intertainment Corp. (GIC) (OTC BB:GGNC - news) to use its patented
Internet online Sportsbook software.
In addition to direct sales revenue, WorldNet Casinos will receive 25% of the win Cyberbetz will gain from this new Sportsbook offering.
Cyberbetz, www.cyberbetz.com, the Internet Casino run by GIC, will now offer its extensive list of customers the opportunity to bet on all major sporting events. The company has a worldwide customer base with emphasis on the Asian and European markets.
By releasing its new full blown version of its patented Internet Online Sportsbook Software, WorldNet Casinos expects to convert the traditional gambler from Las Vegas style gambling to Internet gambling with a fully automated interactive sportsbook, allowing the gambler to see and bet on real time global sporting events from the comfort of their home.
This strategy is key to the company diversifying its revenues beyond the traditional on-line gaming market by leveraging the Internet.
According to Datamonitor, online gambling transactions have the potential to dwarf those of other interactive services, with the most successful services turning over more than $1 million per week.
WorldNet Casinos currently posts revenue in excess of $7 million per month, and is growing at a rate that will attain approximately 5% market share within 12 months.
Some of WNC's competitors within the Internet gaming market include Anchor Gaming Inc. (NASDAQ:SLOT - news), Harrah's Entertainment Inc. (NYSE:HET - news), Trans World Gaming Group (OTC BB:IBET - news), Argosy Gaming Co. (NYSE:AGY - news), International Game Technology Inc. (NYSE:IGT - news), and Azbar Corp. (NYSE:AZR - news).
WorldNet Casinos.com, pioneer of Casino Games and services for the Internet, is the leader in developing Casino games that are easy to access, exciting to play and safe and secure to use. For additional information please visit our web site www.worldnetcasinos.com, e-mail
press@worldnetcasinos.com or call John Kirk, investor relations at 877/899-9950.
Note to Editors: Certain statements herein that are not historical are forward looking statements
which involve risk and uncertainties.
Investors who seek more information about the company's business and relative risk factors may
wish to review the company's periodic reports filed with the SEC including, but not limited to, its
most recent Annual Report on Form 10-K/SB and Quarterly Report on Form 10-QSB.
Contact:
Ranes International Holdings Inc.
Andy Ruppanner, 561/367-7432 |
