To: Fli-by (1018 )
From: SCOOBEY-DO Wednesday, Jan 27 1999 5:51PM ET
Reply # of 2357
News Release:
Internet Gaming Transactions to be Protected by eConnect Terminals; Global Entertainment Affiliate VIP Sports Teams with eConnect -- Formerly Betting Inc.
Business Wire - January 27, 1999 17:26
LAS VEGAS--(BUSINESS WIRE)--Jan. 27, 1999--eConnect (OTC BB:BETT) and VIP Sports.com, an exclusive licensee of Interactive Gaming and Wagering (IGW), an owned subsidiary of Global Entertainment Holdings/Equities Inc. (Nasdaq:GAMM)(OTC BB:GAMM), Wednesday announced an agreement to use eConnect self-service terminals that accept credit cards, ATM cards and smart cards.
eConnect proprietary terminals give online customers a safe alternative to bypass the Internet with bank card data and personal data for Internet transactions. Under the agreement, eConnect will install 5,000 of the self-serviced terminals in the next 12 months in public locations such as hotels, cyber cafes and malls to provide customers the flexibility to open accounts and make transactions with VIP Sports.com.
By July, customers can use their ATM card or smart card to send funds, same as cash, to VIP Sports.com transactions on the eConnect terminals.
Transactions are protected by PERFECT, Personal Encrypted Remote Financial Electronic Card Transactions, which bypass the Internet and are processed by ET&T, (http://www.hpos.com), a partner and shareholder in eConnect.
VIP Sports.com has been using Internet & Telephony Sportsbooks System, developed by IGW at its Web site -- vipsports.com -- since 1997.
eConnect is pursuing the business of PERFECT wagers as originating from PERFECT devices which will migrate into homes and offices as bill payment devices, and will also be used as wagering devices sending in same as cash ATM card and smart card pay-per-play wagers, creating a $200 billion global PERFECT wagering marketplace by 2001.
CONTACT: VIP Sports.com
Steve Abboud, 402/331-3189
or
Carnegie Cook
Anita Goldberg, investor relations, 800/262-2331 |
