American Wagering Announces Winning Proposal for Exclusive Australian Stadium Wagering
PR Newswire - March 23, 1999 10:23
LAS VEGAS, March 23 /PRNewswire/ -- American Wagering, Inc. (Nasdaq: BETM) today announced that the Company's proposal was selected for the exclusive rights for the Company's Mega$ports Australian subsidiary to provide sports betting services at Bruce Stadium in Canberra, Australia.
Under the proposal, Mega$ports will accept fixed odds wagers and offer their Mega$ports sports betting system to attendees of all events at Bruce Stadium. Mega$ports will pay Bruce Stadium a percentage of all wagers accepted and in return Bruce Stadium will provide sufficient space, necessary services and all required utilities for Mega$ports to set up a sports betting location within the stadium. Bruce Stadium holds over 30 events a year and is one of the venues for events of the Sydney 2000 Olympics. Mega$ports will be the sole bookmaker during all events conducted at the stadium and will serve as an additional wagering outlet open daily during the life of the agreement. The agreement went into effect on March 19, 1999 as the Company accepted bets from their sports betting location at Bruce Stadium for the ACT Brumbies rugby match.
Commenting on the agreement, American Wagering, Inc. CEO Victor Salerno said, "Our international expansion continues with the award of this proposal. For the next three years AWI will have the exclusive bookmaking rights for the acceptance of wagers from the attendees of sporting events at Bruce Stadium. We are honored being chosen the bookmaker of Bruce Stadium in Canberra, the Capital of Australia. We will continue to explore opportunities of this type worldwide."
American Wagering, Inc. owns and operates Leroy's Horse and Sports Place, the licensed bookmaker with the largest number of sports book locations (48) in the State of Nevada; CBS, the dominant supplier of sports, and race book equipment and software in Nevada and creator and operator of Mega$ports. The Company also owns and operates a 150 room hotel/casino complex in Las Vegas and has formed an Australian subsidiary to operate Mega$ports on the Internet.
The statements contained in this release, which are not historical facts contain forward-looking information with respect to plans, projections or future performance of American Wagering, the occurrence of which involves certain risks and uncertainties, including that American Wagering, Inc. takes financial risks on the outcome of sporting events and there can be no assurance that the Bruce Stadium project will be profitable and uncertainties detailed in American Wagering's filings with the Securities and Exchange Commission.
SOURCE American Wagering, Inc.
/CONTACT: Bob Ciunci of American Wagering, 702-735-5529; or Alan R.
Woinski of Gaming Venture Corp., U.S.A., 201-947-4642/
(BETM) |
