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Microcap & Penny Stocks : Internet Casino and Internet Gambling stocks -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Microcap who wrote (113)	7/8/1999 4:03:00 PM
From: Wingman23	Read Replies (1) \| Respond to of 130

Malachi Group Initiates Coverage Of Atlantic International Entertainment Atlantic Recommended As A Speculative Buy Rating With Target Price Of $14 BOCA RATON, Fla., July 8 /PRNewswire/ -- Atlantic International Entertainment, Ltd. (OTC Bulletin Board: AIEE - news; AIE) announced today that the Malachi Group, an investment banking firm based in Atlanta, Georgia, has initiated coverage of the company. Atlantic is a developer of Internet gaming products. The company offers its products only to licensed operators in jurisdictions permitting interactive gaming. The report dated July 8, 1999, was authored by Rashad Barajakly. It identifies Atlantic as one of the leaders in Internet-based gaming & wagering. The company has built an infrastructure that allows it to support multiple stand-alone gaming sites while offering state-of-the-art products to the gaming industry. The report states, ''We rate Atlantic International Entertainment, (AIEE) a speculative buy with a target price of $14. In comparison to current valuations of online gaming companies our target price and P/E multiples are conservative.'' The report is the second research piece devoted entirely to AIE. In February The Phoenix Group International published a buy recommendation. Atlantic's President & CEO, Richard A. Iamunno, stated that, ''The Malachi report confirms our contention that AIE is an important and undervalued player in the growing interactive gaming market. The company has entered into an exciting time seeing growing revenue streams coupled with Internet gaming enjoying broader acceptance in the established gaming and wagering industry.'' Atlantic International Entertainment, Ltd. ( www.aieltd.com ) develops and markets Internet and private network transaction-based products that it only offers to licensed gaming operators in regulated jurisdictions. These products include: Internet Casino Extension(TM) (ICE)(TM), a growing suite of casino games; webSports(TM), a sports wagering system; Lotto Magic(TM) a lottery system for private, government and fundraising purposes; and Bingo Blast(TM) a multi-player system for charity and private organization use. The company also offers wireless and portable gaming devices through its Las Vegas-based Excel Design, Inc., a wholly owned subsidiary. This press release contains potential forward-looking statements regarding the company. The future performance of the company involves risks and uncertainties that could cause actual results to differ materially. Such risks include competition and pricing pressures, dependence on telecommunications carriers, management of growth, customer turnover, technological change, governmental regulation, unauthorized use of technology, system failures and a variety of stock market-related risks. For a more complete description of certain such risks and uncertainties, please refer to the documents that the company files from time to time with the Securities and Exchange Commission including 10K filed May 7, 1999, and form 10Q filed May 18, 1999. For Investor Relations please contact: Ira W. Miller or Larry Fortune I.W. Miller Group, Inc., (949) 833-9001. SOURCE: Atlantic International Entertainment, Ltd.