LAS VEGAS CASINO, INC. ANNOUNCES WARNING TO INVESTORS
Vancouver, British Columbia, July 28 / -- Las Vegas Casino, Inc. announced that Starnet International Communications (OTC Bulletin Board: SNMM) (Berlin: SNM) "(Starnet") has underway a private placement offer in the US which is believed may involve an attempt to raise substantial funds believed to be in excess of $ 25 million.
According to Las Vegas Casino, Inc., the figures and projections being used for this placement offer are misleading; incorrect figures about Las Vegas Casino's revenue status are being used "in order to impress investors."
Las Vegas Casino, Inc. wishes to state that permission to use its name to raise funds in such a manner has never been granted, and even less so for the publication of misleading information to the public.
Las Vegas Casino, Inc. wishes therefore to warn potential investors of these facts and to advise that Las Vegas Casino, Inc. is not in any way associated with any such offer or placement. Furthermore, Las Vegas Casino, Inc. has requested the removal of its name from any such offer.
For more information about Las Vegas Casino, Inc. visit the company's Web site at lasvegascasino.com
or e-mail: legal@LasVegasCasino.com
SOURCE: Las Vegas Casino, Inc.
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LAS VEGAS CASINO, INC. ANNOUNCES FURTHER CLARIFICATION WITH RESPECT TO ARTICLE REFERENCE USED BY STARNET COMMUNICATIONS INTERNATIONAL; COMPANIES INVOLVED SHUT DOWN BY POLICE IN THREE COUNTRIES, MANAGEMENT ARRESTED
Vancouver, British Columbia, July 28 / -- Las Vegas Casino, Inc. would like to confirm that an article reference in a press release from Starnet Communications International, Inc. (OTC-BB: "SNMM") ("Starnet"), issued July 27 (http://www.rgtonline.com/newspage/artlisting.cfm/2733), did not make clear that HLI was also the name used as a previous reference by Starnet in a misleading and fraudulent e-mail sent to thousands of clients by Starnet.
HLI was later to be shut down by police in three countries: Vancouver, Canada; California; and Australia. The management were arrested and their servers seized. This group of companies, comprised of Funscape.com, CasinoSoft.com the game developer, Handa Lopez, Inc. (HLI) acting as the e-cash company, World Wide Multimedia, and Scylinx Corporation were involved in such massive frauds to the extent that the operators of the 29 online casinos had no option but to terminate all agreements and/or contracts with them.
This and other related information can be read at the following sites:
gamblingmagazine.com
gamblingmagazine.com
gamblingmagazine.com
Both HLI and Starnet are companies that never let their licensees handle the financial transactions associated with online casinos, as they control all such operations. In the case of HLI, the online casino operators never had access to funds coming in, so it is evidently hypocritical in the extreme to expect the casino operators to be responsible for account balances.
Las Vegas Casino, Inc. is also owed a substantial amount of money, for funds collected on behalf of Las Vegas Casino through Secure Bank and the Bank of Nevis, and possibly other banks that Las Vegas Casino is unaware of. Only EFS Caribbean (Starnet) handled the funds for Las Vegas Casino, Inc, and it is the former which is responsible for account balances, as Las Vegas Casino never had access to their systems.
All Las Vegas Casino clients should contact Jack Carley at Starnet 1 (604) 685 7619
SOURCE: Las Vegas Casino, Inc.
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LAS VEGAS CASINO, INC. TO FILE COURT DOCUMENTS "WITHIN 48 HOURS," ISSUES NEW PRESS RELEASE
Las Vegas Casino, Inc. issues new press release with regard to Starnet Communications International Inc. and confirms forthcoming legal action "within 48 hours"
Las Vegas Casino, Inc. issued a press release dated 27 July, 1999 via PRnewswire to the effect that it is to sue Starnet Communications International (OTC Bulletin Board: SNMM) ("Starnet") and its wholly owned subsidiary, Softec Systems Caribbean, Inc., claiming damages for a substantial number of material breaches of agreement, for a sum of $1 billion dollars.
On issue of the press release, shares in Starnet suffered heavy selling with tens of millions of dollars being wiped off the value of its shares in a matter of minutes.
Subsequently, PRnewswire pulled Las Vegas Casino's press release from its database when it was explained by e-mail that:
"We only send releases about lawsuits that have been filed. Once you do so, we will reissue the information to the media, but we only issue releases about lawsuits after they have been filed, not before."
This is the reason why this important press release has been temporarily removed from circulation. However, lawyers in Vancouver acting for Las Vegas Casino, Inc. need several more days to study all the detailed and comprehensive data that has already been supplied them, and to prepare the necessary documentation. As soon as this is completed, further press releases from Las Vegas Casino, Inc. will follow, for distribution to the world's media. Las Vegas Casino, Inc. fully intends to seek maximum exposure and publicity for this case in order that the facts can openly and demonstrably be proved in a court of law, and which is then expected to result in appropriate redress for Las Vegas Casino, Inc.
Starnet also issued a further press release on July 27, via PRnewswire, in which it gave details of the termination of its software license agreement with Las Vegas Casino for non-payment of certain licensing fees. A spokesman for Las Vegas Casino has described this act as "totally abusive," as the act of termination had been previously accompanied by the demand for a manifestly and wholly inaccurate sum.
Furthermore, the allusion to an article published on the RGT Online site refers to several companies including Handa Lopez, Inc. ("HLI"), CasinoSoft.com, Funscape.com, Scylinx Corporation and others whose operations have been detailed in a number of articles published by GamblingMagazine.com, notably:
gamblingmagazine.com
gamblingmagazine.com
gamblingmagazine.com
One article details the investigations of an Australian journalist who uncovered "a worldwide network of online scams netting hundreds of millions of dollars a year" and "a web of deceit across four countries involving false addresses and dodgy gambling ventures."
Indeed, it was the evidence of fraud on a massive scale which first prompted Las Vegas Casino's management to sever all relations with HLI, a decision that was to be pertinently and clearly vindicated when it was later revealed that the company was shut down by police in Vancouver, California and Australia, their management arrested, and all their servers seized.
Las Vegas Casino, Inc. has now stated that all supporting legal documents will be filed with the court "in the next 48 hours" or "just as soon as the lawyers have them ready."
Further press releases will follow. Gambling Magazine will continue to publish the full facts.
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