FM, check out this PR
NetBet.com to Open One of the First Internet-Based Sports Betting Sites; Specializing in Asian Sporting Events
LAS VEGAS--(BUSINESS WIRE)--May 13, 1999--NetBet.com (OTC BB:NBET) Thursday announced that CSP Limited ("Casinos of the South Pacific" or "CSP"), with an Asian partner, has opened one of the first sports betting Internet sites specializing exclusively in Asian sporting events (www.cosp.com).
The Internet site will be linked to 50 different Asian-language Web sites throughout the world. Initially the site is offering wagering on Japanese baseball games with plans underway to offer other sporting events such as Sumo wrestling matches and soccer games in the future. From the site, players can view and play in three languages: Chinese, Japanese and English.
CSP is an offshore online Internet casino located in the Cook Islands. NetBet.com has an agreement with CSP whereby NetBet.com receives 80 percent of CSP's net revenue in return for NetBet.com supplying technology, marketing and financial consulting to CSP. The sports betting program for Japanese baseball games was developed by the Asian partner, and in conjunction with CSP, installed the system in the Cook Islands. The inclusion of additional sporting events on the site is planned in the coming months.
The agreement between the Asian partner and CSP provides for a 50/50 sharing of net revenues and a cooperative exchange of marketing and technology. Wagering on Japanese baseball has historically been very popular in Asia. CSP is confident that the ability to make wagers through this new technology will quickly attract many new players to the CSP Internet site with a corresponding increase in revenue.
Safe Harbor Statement
Some statements in this release are forward-looking and are subject to certain risks and uncertainties. These risks and uncertainties include but are not limited to economic conditions, changes in laws or regulations, demand for products and services of the company and the effects of competition. These risks and uncertainties could significantly affect anticipated results in the future and actual results may differ materially from any forward-looking statements.
NetBet.com's scope of operation includes the design, development and promotion of interactive, software-based games of chance. Utilizing the Internet as a medium for presentation, the company provides technology services for the online worldwide casino marketplace 24 hours a day, 365 days a year.
CONTACT:
NetBet.com
Jim Brewer, 949/474-2191
or
Market Pathways (media & investor relations)
Shannon T. Squyres, 949/955-1860
KEYWORD: NEVADA
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