GGNC NEWS
(BSNS WIRE) GGNC Sports Book and Internet Casino Show a Continuing Rise
GGNC Sports Book and Internet Casino Show a Continuing Rise in Combined On-Line
Wagering Revenues
Business Editors, High-Tech & Entertainment Writers
LAS VEGAS--(BUSINESS WIRE)--March 16, 1999--GIC Global
(OTC BB:GGNC) The Price Waterhouse Audit of the Second Acquisition of
an Established, Operating and Profitable Operation is Expected to
Finish Within this Month
GIC Global Intertainment Corporation - GGNC on the O.T.C.
Bulletin Board (located and licensed in the Commonwealth of Dominica),
today announced that its month-over-month Internet casino wagering
revenues increased last month over the previous month. The combined
February 1999 volume of transactions placed through the Company's
on-line sports book at www.cyberbetz.com/index2.html (US$2,346,879)
and its casino at www.cyberbetz.com/ (US$5,538,572) was a total of
US$7,885,451, compared to US$6.7 Million for January. Cyberbetz
recently emailed to their shareholder list an update announcing the
Sports Book's availability on the internet.
James Chu, President and CEO of GGNC stated "We are excited about
the continuous growth that is taking place on our site and with our
aggressive advertising campaign in Asia kicking off this month in all
major television networks (including cable and satellite networks)
across Asia to raise awareness of www.cyberbetz.com. We can expect
continuous exponential growth trend and daily traffic increase for our
site during this year. The Company is progressing as planned and the
results of the operation are better than expected. In term of the
acquisition of the second casino and sports book operation that
currently has been in business for a 3 year period and produces U.S.
$100 Million in wagering revenues. The Company is also moving forward
as planned with Price Waterhouse (the world's largest accountant firm)
expected to finish their audit of this operation within this month.
Once this acquisition is completed, it will give our Company an
established and profitable second operation with excellent goodwill
immediately; which means an immediate dramatic increase of wagering
revenues and healthier bottom line for the Company and our existing
and future shareholders."
The Wall Street Research Group, a company that features
undervalued stocks in emerging growth markets, has listed GGNC as a
'recommended buy.' For further information, see
wallstreetresearch.net or call
1-800-943-2298.
GNNC'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). Cryptologic
Inc. (TSE:CRY - news), Starnet Communications International Inc.
(OTC BB:SNMM - news), GLC Limited (Nasdaq:GLCCF - news), Atlantic
International Entertainment Ltd. (OTC BB:AIEE - news), Cybergames Inc.
(OTC BB:CYGA - news), IGN Internet Global Network Inc.
(VSE:IGN - news, OTC BB:IGINIF - news) and Global Games Corp.
(OTC BB:GLOW -news).
GIC Global Intertainment Corporation is a high technology
Internet Gaming Company that searches for proven technologies, which
are directly linked to the Internet. The Company intends to seek
market dominance by way of mergers and acquisitions of
Internet-related gaming companies and technologies that are already
positioned in the marketplace.
This news release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, and is subject to the safe
harbor provisions of these sections. Actual results may differ
materially from the expectations and estimates of GIC Global
Intertainment Corporation.
--30--slb/clv*
CONTACT: GIC Global Intertainment Corporation
Keith Lindquist, 877/442-9467 or 604/688-6888
Email: ir@ggncwins.com
Websites: www.ggncwins.com and www.cyberbetz.com
or
GIC Global Intertainment Corporation
Shawn Balaghi, 877/442-9467 or 604/688-6888
KEYWORD: NEVADA
INDUSTRY KEYWORD: ENTERTAINMENT ENMED COMPUTERS/ELECTRONICS
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