XTON news just out....
eLotteryWorld.com Web Site Activated; A Sample Web Based Lottery Store Comes to the Internet
Business Wire - April 05, 1999 10:00
MILFORD, Conn.--(BUSINESS WIRE)--April 5, 1999--eLottery, Inc., currently a wholly owned subsidiary of Executone Information Systems, Inc. (NASDAQ: XTON), announced that it has activated its new web site, www.eLotteryWorld.com.
eLotteryWorld is a demonstration of eLottery's capabilities as a web-based retailer and supplier of eCommerce solutions to governmental Lotteries. The site is an example of how the web can be transformed into a retail store interface to existing lottery systems. Visitors to eLotteryWorld will be able to register and sample the Company's systems, services and games. eLotteryWorld is a supplemental web site to the Company's www.eLottery.com web site that includes detailed information regarding the Company's systems, products, partners and a one minute informational streaming video.
Michael Yacenda, eLottery President, commented, "We are confident that governmental authorities that quickly adopted the last generation of "on-line" technologies will quickly adopt the next generation of "on-net" technologies. Our proven concepts, technology and systems can provide them with this capability. For those authorities, the eLotteryWorld web site helps illustrate how lottery tickets can be distributed electronically while maintaining the high level of security and integrity demanded in the lottery industry."
Mr. Yacenda continued, "For existing and potential lottery consumers, the eLotteryWorld.com site demonstrates how the powerful on-net capabilities can enhance the experience with more time in the game and less time in the line waiting to play. For advertisers and partners eLotteryWorld.com demonstrates why our previous lottery site was one of the "stickiest" on the web. When tested on the Internet for 18 months, the average visitor spent over 4 hours per month and our best customers spent 6 to 8 times those hours. We will continue to enhance the site as a destination on the web to entertain visitors and to demonstrate how technology changes everything and dramatically enhances the lottery experience."
eLottery's mission is to be a web-based retailer of lottery games and related products and services. The Company has developed and operated systems software that enables the electronic distribution of lottery tickets over the Internet, Intranet and via telephony. The Company believes that the electronic distribution of lottery tickets will increase lottery sales because it makes the purchase of tickets easier and uses technology to enhance and enliven the lottery gaming experience. With its unique eCommerce lottery operating experience, the Company believes it is well positioned to capitalize on the growth as lottery sales move to electronic forms of distribution.
Executone has previously announced that it will divest its core telephony and healthcare businesses and at the conclusion of the transaction, subject to shareholder approval, Executone Information Systems, Inc. would be renamed eLottery, Inc. Executone's Board of Directors also announced it has received an offer for those businesses from a group led by Stanley J. Kabala, Chairman and Chief Executive Officer of Executone. The offer from management is in the range of $70 million and is subject to a number of conditions including negotiation of a definitive agreement, financing, the waiver or expiration of a pre-existing right of first offer, and approval of the Executone shareholders. The proceeds of any sale will remain in the Company to help it accelerate the achievement of eLottery's business plans.
Executone Information Systems, Inc. develops, markets and supports voice and data communications systems. Products and services include telephone systems, voice mail systems, inbound and outbound call center systems, and specialized healthcare communications systems. Executone's products and services are sold under the EXECUTONE, INFOSTAR, IDS, LIFESAVER, and INFOSTAR/ILS brand names. Executone is on the World Wide Web at executone.com.
This news release contains forward-looking statements. Such statements are subject to certain factors, which may cause Executone's plans to differ or results to vary from those expected including the risks associated with the development of new products and the uncertainty of product acceptance, the competitive nature of the Company's industry, rapid technological change, legal uncertainties, the Company's dependence on key personnel, and a variety of risks set forth from time to time in Company filings with the Securities and Exchange Commission.
CONTACT: Edward W. Stone
Chief Financial Officer
203/882-6260
or
Vince Daniels
Lippert/Heilshorn and Associates
212/838-3777
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