Atlantic International Entertainment, Ltd. Is Pleased To Announce The Sale Of Multiple Casinos To ImperiaMedia, Ltd.
PR Newswire - April 22, 1999 13:24
The Sale Is Valued At Over Three Million Dollars For The Term Of The Contract
BOCA RATON, Fla., April 22 /PRNewswire/ -- Atlantic International Entertainment, Ltd., AIE (OTC Bulletin Board: AIEE) is pleased to announce the sale of multiple casinos to ImperiaMedia. The first casino will go live next week and is called Goldmine Casino. A second casino, Casino Nederlands, will be installed and running within two weeks. Both of these casinos will be located in the Caribbean Basin. This agreement calls for upfront cash of $300,000 and a reoccurring revenue stream, beginning after installation.
Atlantic's President & CEO, Richard A. Iamunno stated that, "We are pleased to announce this exciting agreement with ImperiaMedia, Ltd. They are experienced players in the Internet marketplace and have consistent experience in attracting new players. We feel this is only the beginning of our relationship and look to expand into additional areas, such as our network gaming products."
Oliver Vermeulen, Managing Director of ImperiaMedia, Ltd. stated that, "We are pleased with our alliance with Atlantic International Entertainment, Ltd. It is a perfect match to our Internet gaming hosting & licensing services. We feel that the AIE software is the superior product in the market place."
Atlantic International Entertainment, Ltd. develops and markets Internet and private network transaction based products, including global turn-key Internet Casino Extension(TM) (ICE)(TM), for licensed casinos; webSports(TM), an Internet sports wagering system; Lotto Magic(TM) a lottery system for private, government and fund raising purposes; and Bingo Blast(TM) for charity and private organization use.
This press release contains potential forward-looking statements regarding the Company. The future performance of the Company involves risks and uncertainties that could cause actual results to differ materially. Such risks include competition and pricing pressures, dependence on telecommunications carriers, management of growth, customer turnover, technological change, governmental regulation, unauthorized use of technology, system failures and a variety of stock market-related risks. For a more complete description of certain such risks and uncertainties, we refer you to the documents that the Company files from time to time with the Securities and Exchange Commission, including 10K filed May 26, 1998 and form 10Q filed November 16,1998.
For Investor Relations please contact:
Ira W. Miller or Larry Fortune
I.W. Miller Group, Inc.
(949) 833-9001
SOURCE Atlantic International Entertainment, Ltd.
/CONTACT: Richard Iamunno, President & CEO of Atlantic International
Entertainment, Ltd., 561-393-6685 or fax 561-393-1485/
/Web site: aieltd.com
(AIEE) |
