To: Jorjenzak (2063 )
From: SCOOBEY-DO Thursday, May 13 1999 10:05AM ET
Reply # of 2435
News Release: Meeting is on June 5th.
May 13, 1999 09:33
eConnect Announces April Revenues of $60,000 From $1.1 Million in Wagers Generated by Its eSportsbet.com Subsidiary
LAS VEGAS--(BUSINESS WIRE)--May 13, 1999--eConnect (OTC BB:BETT) announced April revenues of $60,000 generated through its subsidiary eSportsbet.com.
May 1 brought in $300,000 on one day of sports wagers and eConnect is forecasting a record May for eSportsbet.com based on expected revenues from NBA Playoffs and the Stanley Cup Playoffs.
"We are quickly moving forward in expanding eSportsbet.com to an Internet presence, which combined with their present over-the-phone operations, forecasts increased earnings for eSportsbet.com. 777WINS.com, our Internet casino subsidiary, is targeting the last week of May as the start of increased bandwidth and the projected tripling of incoming players," stated an eConnect spokesperson.
eConnect is focused on being the world leader in PERFECT wagers, which are incoming hardware-enabled, same-as-cash bank-card transactions sent to gaming companies as Internet, landline and wireless pay-per-play wagers. 777WINS.com and eSportsbet will be paid by such PERFECT wagers and will also service such pay-per-play wagers to competitive gaming companies.
eConnect has developed a bank host to drive these incoming transactions. eConnect is manufacturing and distributing the PayMaster as the first home hardware device to effect same-as-cash transactions, and is positioning 777WINS.com and eSportsbet.com to receive same-as- cash, home-originated transactions plus generating additional revenues from the routing of such transactions to competitive gaming companies.
"We have all the elements in place: the proprietary hardware, the bank host, and our working revenue generators -- gaming companies of 777WINS.com and eSportsbet.com. The missing element in our fundamentals is substantial cash infusion, which we anticipate will soon occur," stated an eConnect spokesperson.
eConnect projects a 2001 global PERFECT wagering market of $300 billion. This marketplace will be generated from incoming same-as-cash, hardware-enabled wagers originating from mobile, home, hotel-room and publicly located hardware such as the eConnect PayMaster.
eConnect's vision is that these hardware devices will have been promoted into global homes by utility companies, and others, as same-as-cash, bill-payment devices with machine-read ATM cards and smart cards. Human nature will also use these same-as-cash, bill- payment devices as home-wagering equipment, which will create the PERFECT wagering industry in which eConnect will be the global leader.
eConnect is holding its annual shareholders' meeting on June 5 at 9 a.m. until 1 p.m., at the Alexis Park Hotel, Las Vegas.
CONTACT: Carnegie Cooke (for eConnect)
Anita Goldberg, 800/262-2331 (investor relations)
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