To: SCOOBEY-DO (1347 )
From: Katt-000 Tuesday, Feb 23 1999 1:57PM ET
Reply # of 2359
***NEWS***
More than an alliance, this is big!!..........
eConnect in Acquisition Talks With777WINS.com
February 23, 1999 01:35 PM
LAS VEGAS--(BUSINESS WIRE)--Feb. 23, 1999--eConnect BETT announced that it is in acquisition talks with 777WINS.com.
777WINS.com, consistently rated in the top three Internet casinos by Internet-casino rating services and projecting $100,000 per month in earnings by the fourth quarter of 1999, will also generate substantial revenues as the Internet-casino gate group within the eGate division of eConnect.
eConnect, in conjunction with its principal strategic partner, ET&T, is now laying the foundation for completely self-serviced PERFECT pay-per-play wagers, which eConnect estimates will be a $200 billion global market by 2001.
The eGate division (see eConnect at www.hpos.com) acts as a relay point between bank host processing centers such as ET&T and gaming merchants.
eGate is subdivided into specific groups, which will specialize in their specific gaming markets.
Complementing the eConnect sports-bet gate group, which is administered by eSportsbet.com, 777WINS.com will be paid a gate service fee per PERFECT transaction by Internet casinos that are receiving same-as-cash pay-per-play electronic wagers by ATM card and smart card.
Personal Encrypted Remote Financial Electronic Card Transactions (PERFECT) will originate from user-friendly terminals such as the freely distributed PayMaster, or the in-development Internet-related SLICK or wireless PocketPay (www.hpos.com).
ET&T will process the incoming transactions and pass on the payment-made command to eGate, which will then route the specific data to the proper gate group, such as 777WINS.com, for Internet-casino pay-per-play wagers and eSportsbet.com for PERFECT sports wagers.
Separate from efficiently generating their own revenues from customers sending pay-per-play cash to 777WINS.com or eSportsbet.com, additional revenues will be earned from 777WINS servicing Internet- casino operators and eSportsbet servicing sports-book companies with PERFECT relayed cash pay-per-play transactions.
In the next 12 months, eGaming, the division of eConnect responsible for acquisitions, is focused on acquiring a lottery company, a bingo company and a slots company, which will run their respective eGate groups. A Games of Skill gate group will also be established, focusing on chess, bridge and video combat.
Gate groups are paid instant cash fees per transaction.
eConnect and ET&T are betting that many companies will be releasing PERFECT equipment over the next 24 months, which will be promoted into homes and offices as bill-payment devices by smart and ATM card and which will also be used to conveniently place pay-per- play wagers.
Focused on establishing its presence in eight countries over the next year, eConnect foresees global international same-day games being played and is positioning itself to be the primary service provider for the PERFECT wagering industry
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