Jeff, after recently criticizing MDIH +33% today, I have to praise it for this release...
New York Lottery Launches MDI's Wheel of Fortune Game
NEW YORK--(BUSINESS WIRE)--April 20, 1999--MDI Entertainment, Inc. (OTC BB:MDIH) announced that the New York Lottery has introduced MDI's Wheel of Fortune licensed lottery game. Sales began today throughout the State.
The New York Lottery has printed over ten (10) million $2.00 tickets. The game is expected to generate over $20 million in revenue for the Lottery and contribute over $5 million to education in the Empire State.
The Lottery has partnered with several media outlets throughout the State of New York for promotions. In addition to WABC Channel 7 in New York City, the Lottery will implement a promotion with the New York Daily News.
The game has a top prize of $50,000. In addition, the Lottery is offering players the chance to win one of seven (7) trips for two to Hollywood, plus an audition to become a contestant for Wheel of Fortune. Also, by following instructions on the back of the ticket, players can purchase a Wheel of Fortune T-shirt and receive $10.00 in lottery coupons in a tie-in program being run by MDI and the Lottery.
MDI Entertainment, Inc. specializes in creating, marketing and implementing entertainment-based promotions to the North American lottery industry. In addition to Wheel of Fortune, MDI Entertainment, Inc.'s current lottery promotions include scratch games featuring properties such as Harley-Davidson, Star Trek, Jeopardy!, Twilight Zone and Louisville Slugger. A significant aspect of MDI Entertainment's promotion is the awarding of merchandise tied to the various properties as prizes.
The Private Securities Litigation Reform Act of 1995 provides a ''safe harbor'' for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by MDI) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the lottery industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of MDI. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors.
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Contact:
MDI Entertainment, Inc.
Steven Saferin
(860) 527-5359
My best guess (IMHO), is that this Lottery should gross 6% of the take, or 1.2 Millions (16 cents/share additional gross revenue) for MDIH, a Company that earns 20+ cents and should be worth at least $3.00 if valued properly by the market.
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