NEWS Release (at last :-)
News article received, Tuesday, May 04, 1999 11:56:35 AM EST
Intersphere Communications Signs License Agreement With E-Casino Gaming
PLYMOUTH MEETING, PA. (May 4) BUSINESS WIRE -May 4, 1999--Intersphere Communications Ltd., a Philadelphia interactive agency and subsidiary of publicly traded Interactive Gaming & Communications Corp. (OTC BB:SBET), announced Tuesday that it has issued a software license to E-Casino Gaming for its LiveAction Gaming Platform(tm), House Advantage Casino Management System(tm), and LineMaster Sports Wagering System(tm). Revenue projected from this project is expected to reach as much as $500,000 annually over the term of the agreement.
E-Casino Gaming operates from Costa Rica and is now launching an online casino and sportsbook at e-casinogaming.com. The casino features all of the games found in a land-based casino, including Roulette, Black Jack, Poker, Slot Machines and Keno, as well as a full featured Sportsbook.
The LiveAction Gaming Platform is the premier gaming management system for managing and operating an Internet or phone-based sports book and online casino. The system consists of two optional modules including the LineMaster Sports Wagering System, and the Java-based House Advantage Casino Management System. Intersphere's world-renowned gambling software, is currently also in use by Total Entertainment (OTC BB:TTLN), 123 Casino, and has additionally been licensed to six other online casino sites.
Each suite of applications represents potential yearly revenue to Intersphere of $500,000 with a yearly guaranteed minimum of $100,000.
Intersphere Communications Ltd. anticipates a total of four additional software licenses to be sold by year's end, resulting in potential revenues reaching $2,000,000. The systems are available for licensing to all land based and Internet gaming entities with a license to conduct wagering in a legal jurisdiction.
The E-Casino Gaming site will appeal to many players including those customers who visit or play games developed by Playstar (OTC BB:PSCKF), Starnet Communications International Inc. (OTC BB:SNMM) and Atlantic International Entertainment Ltd. (OTC BB:AIEE).
The potential of the Internet continues to increase each week. Forrester Research recently estimated that worldwide Internet commerce could reach as high as US$3.2 trillion in 2003. The 1998 Casino & Gaming Business Market Research Handbook predicts that the Internet gaming market could reach US$100-200 billion in annual revenues by 2005.
Jeffrey Erb, vice president of Intersphere Communications said, "We are excited about the continued expansion of our online wagering software into new marketplaces, and look forward to continued growth and further development of our software."
Recently, Interactive Gaming and Communications Corp. announced a memorandum of agreement to acquire, Century Industries (OTC BB:CNTI) for the purpose of upgrading its listing. This announcement relates to IGC's increase in licensing royalty revenues.
Intersphere Communications Ltd., is an online development company whose client base includes Metro Goldwyn Mayer (MGM Interactive) (Nasdaq:MGM), Comcast (Nasdaq:CMCSK), Chelsea House Publishing Co., GT Interactive, PA Early Stage Partners, The Philadelphia Ad Club and many others.
Intersphere Communications can be found online at intersphere.com.
For further information about IGC see their website at www.igccorp.com.
For your free investor kit, visit thesubway.com.
The statements in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934 and are subject to the safe harbor created by these sections. Actual results may differ materially from IGC's expectations |
