Atlantic International Entertainment, Ltd., (AIEE) Announces Board Approval Of
Its Plans For A Name Change To On-Line Gaming Systems, Inc.
PR Newswire - May 26, 1999 09:36
BOCA RATON, Fla., May 26 /PRNewswire/ -- Atlantic International Entertainment, Ltd., (OTC Bulletin Board: AIEE) announced today
that its Board of Directors has approved a name change to On-line Gaming Systems, Inc. The name change requires shareholder approval
which is anticipated to occur at the Company's annual meeting, to be held in mid-July.
Atlantic's President and CEO, Richard A. Iamunno, stated that, "Over the last 18 months Atlantic has made significant progress in
establishing itself as a leading supplier of software technology for the on-line gaming industry. We now offer a suite of Internet and
networked-based products to our target customer base, the established gaming and wagering market. The Company's name change is a
logical step to better reflect our rapidly growing presence in this arena."
Mr. Iamunno concluded, "The Company's gaming products have begun to generate very positive responses from the marketplace as
evidenced by recent announcements of significant license agreements. The new corporate name, On-line Gaming Systems, Inc., a more
telling reflection of our product offerings, will better support our ambitious sales efforts. We aim to become a preeminent supplier of software
systems to the potentially very large on-line gaming market."
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. The company's on-line games can be accessed at its web site, www@aieltd.com. The company also offers through its Las Vegas,
Nevada-based Excel Design, Inc., wireless and portable gaming devices.
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
its Form 10K filed May 17, 1999 and Form 10Q filed May 20,1999.
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; or Investor
Relations, Ira W. Miller or Larry Fortune, 949-833-9001, both of I.W. Miller
Group, Inc./
/Web site: aieltd.com |
