Good Things to come.
e-Casino Gaming Corp. Announces Private Placement and Corporate Name Change to "e-Vegas.com Inc." To Reflect Focus of Company
Business Wire - June 04, 1999 14:34
VANCOUVER, B.C.--(BUSINESS WIRE)--e-Casino Gaming Corp. (OTC BB:ECGC) is pleased to announce the following corporate developments.
$1.75 Million Private Placement
The Company has received a commitment of funding of $1.75 million $US in exchange for 2.5 million investment shares. These shares will be restricted from trading for a period of one year. The funding is to be completed on or before June 30, 1999. The capital will be used to finance marketing and general business development of the Company.
"The investment community is showing a lot of confidence in our business potential, especially with our experienced management team now in place", stated Mr. Ed Gallagher, President.
Corporate and Web Site Name Change
e-Casino Gaming Corp. is changing its corporate name to e-Vegas.com Inc.
"When people think about serious and fun gaming, they think Vegas! The new name of e-Vegas.com Inc. will better reflect the focus and association of our company and new management team. To be consistent with this development, we have also decided to change the name of the website to e-Vegasgaming.com.", stated Ed Gallagher, President.
"Our new Directors and advisors have already made a positive contribution to our future direction by suggesting we alter our corporate name and website address so that it better represents the type of experience and elite status of our gaming and e-commerce business", Mr. Gallagher added.
The Company expects the new trading symbol and CUSIP number change to take effect and be announced to the public in approximately two weeks. The time frame for the website name change will probably be sooner. The Company will make an official announcement once the new website address takes effect.
"Once the website address change is made the client's internet browser will redirect the Internet connection to the new address of e-Vegasgaming.com with a simple "click" of the mouse", said Mr. Gallagher.
"We fully expect this to have a real positive impact on the entire business of the Company. In the meantime, shareholders should advise their brokers of the pending change in the name of the Company's securities so they can make the necessary arrangements for a smooth and seamless transition involving the new company's shares", stated Mr. Gallagher.
The Company has trademarked the name e-Vegas.com Inc. and has registered the Internet domain website "e-Vegasgaming.com.".
Please note that the corrected news release "e-Vegas.COM Inc.: Now Easier to Bet On Than Ever" dated June 3, 1999 contains an incorrect reference to a website address: www.e-vegas.com This is not the Company's website address.
The existing website www.e-casinogaming.com is to be used until a public announcement is made by the Company.
The name change was approved and adopted at a shareholders meeting on June 1, 1999.
About e-Casino Gaming Corporation
e-Casino Gaming Corp. is a casino and gaming business based in Costa Rica. The first element of its business is the establishment of an online casino and gaming business at www.e-casinogaming.com . The Company is also in the process of developing related businesses and other electronic and e-commerce business that will enhance its overall growth and profit potential.
e-Casino Gaming Corp. competes with other operators in the internet gaming market such as GIC Global Intertainment Corporation (OTC BB:GLOW), Global Games Corporation (OTC BB:GGNC), Starnet Communications International Inc.(OTC BB: SNMM), Atlantic International Entertainment Ltd., (OTC BB:AIEE), Gaming Lottery Corp.(Nasdaq:GLCCF) and Cybergames Inc.(OTC BB:CYGA)
e-Casino Gaming Corp. licenses its gaming software from Intersphere Communications, Ltd. (Grenada), a subsidiary of Internet Gaming and Communications Corp. (OTC BB:SBET) of Philadelphia, PA. Intersphere's - LiveAction Gaming Platform is the most advanced premier gaming management system available for managing and operating an Internet or phone-based sports book and online casino. The system consists of two optional modules including the LineMaster Sports Wagering System, and the Java-based House Advantage Casino Management System.
Frost & Sullivan estimate that wagering via the Internet was approximately $1 billion in 1998. Gaming consultants Christinansen/Cummings estimate Internet wagering to reach $2.3 billion by 2001. The Financial Times has estimated that the Internet gaming market will yield annual net earnings of US $10.2 billion by the year 2002. Playboy (NYSE:PLA) and Harrah's (NYSE:HET) are now entering the sector.
This press release contains forward-looking statements with respect to the results of operations and business which could be materially different from those discussed. Risks and uncertainties of the Company will be detailed from time to time in the Company's periodic reports to be filed with the Securities and Exchange Commission.
CONTACT: e-Casino Gaming Corp.
Tony Markus, 604 608-6828, or 1-877-815-3238
www.e-casinogaming.com
TICKERS: OTC BB: ECGC
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