To: steveK. (1723 )
From: SCOOBEY-DO Thursday, Apr 8 1999 10:44AM ET
Reply # of 2431
News Release:
April 08, 1999 10:37
eConnect Announces eSportsbet Generated $3.35 Million in Wagering Transactions.
LAS VEGAS--(BUSINESS WIRE)--April 8, 1999--eConnect (OTC BB:BETT), which is acquiring eSportsbet to head up the Group Gate of Sports, announced that unaudited eSportsbet revenues for January, February and March are $212,000, with net profits of $50,000 on wagering transactions of $3.35 million.
Presently, eSportsbet is a non-Web presence but is focused on establishing a Web presence within the next 90 days.
Expected earnings are then forecasted to quadruple with the combined Internet- and non-Internet-originated gaming transactions.
Audited earnings reports on both 777WINS, as the eConnect Internet casino Group Gate, and eSportsbet, as the eConnect Sports Group Gate (go to hpos.com and click eConnect to understand Group Gates), will be seen in the eConnect 1999 10K, which will be filed in October 1999.
eConnect will be acquiring lottery, bingo, slots and racing companies to head up the respective Group Gates.
eConnect is in the business of PERFECT wagering, an expected $200 billion-plus market by 2001. eConnect is focused on capturing 40 percent of the market.
CONTACT: Carnegie Cooke
Anita Goldberg, 800/262-2331 (investor relations)
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