This release is somewhat dated but, should sufficiently answer your questions. Read the backrounders on the players and note the attractive float and market cap! BTW, The IR contacts listed at the bottom may no longer be valid. If you're looking for additional information not contained herein, dig through public filings.
Virtual Gaming Technologies, Inc. (VGTI) is a diversified
interactive
gaming and entertainment company with expertise in gaming,
software development and network integration. The management's
extensive gambling and Casino experience combined with an
established marketing network, positions Virtual Gaming with a
competitive edge in the $10 billion online gaming industry*. The
Company is targeting both the casual and sophisticated gambler
with special promotions, VIP packages and gambling comparable
to a live Casino experience.
Virtual Gaming is currently developing and is beta testing its
exciting
in-house software and client server architecture that meets the
expectations and addresses the security issues of a sophisticated
customer.
The Company will introduce Blackjack as its first on line game
and will
follow up with Baccarat, Roulette and a full range of gaming
opportunities as well as future development of new games such as
Pachinko, Pai Gow Poker and Match Play Baccarat. Virtual
Gaming anticipates generating revenue, from their internet casino
by the summer of 1997.
Virtual Gaming's growth strategy will rely on future joint ventures
and
strategic alliances. The Company's gaming marketing plan will be
implemented through Virtual Cell Marketing_ using specific
geographic
locations that enable the Company to be culturally sensitive and to
bring on new games of interest to a specific region. This will
enable the Company to expand geographically and service
customers through its advanced distributed networking
architecture. Virtual Gaming will enter foreign markets through its
contacts and network of gaming operators, working synergistically
with the industry rather than competing directly with established
gaming companies.
To facilitate international financial transactions and to comply
with
current US laws, the Company has established offshore financial
relationships and licenses with Monacall located in Monaco, and
has also been issued an Ecuadorian gaming license.
Company Highlights
* Expertise in gaming, software development and network
integration
* Unique Virtual Cell Marketing_ enables geographic expansion
* Established network of marketing representatives
* In-house developed client server architecture
International Gaming Opportunity
US DOLLARS SPENT ON GAMING IN 1993
United Kingdom $40,000,000,000
Spain 34,000,000
France 615,000,000
Portugal 143,000,000
New South Wales 1,750,000,000
Asia 300,000,000
Japan 155,000,000,000
United States 394,000,000,000
The Technology
Access to Virtual Gaming's website and operations will be
accomplished through the use of a sophisticated client server
operating platform based on the state of the art Sun Microsystems'
Java_ Operating System. It is being designed to enable the internet
gambler to play in "real time" multi-player mode. This software
will allow for three dimensional motion, sound and interactive
gambling. Virtual Gaming's client server architecture will allow
the player's computer to be connected to the Company's online
service at the operating system level, rather than through a terminal
program, resulting in much higher speed information transfer and
machine response time. The Company's products will be designed
on a user friendly Microsoft Windows platform to increase the
ability for Virtual Gaming's products to interconnect with other
application software in the future. Real time online transactions
keep an up to the minute audit trail of gaming activity through a
scaleable SQL server.
Security is accomplished through Java's_ inherent built-in security
system, Java Security_ which allows Virtual Gaming to implement
cryptography through writing its own applications for Java
Security_. The system also includes system support including
secure databases and certificate facilities.
Marketing Strategy
Virtual Gaming has structured its marketing strategy through
Virtual Cell Marketing. This unique marketing of individual cells
comprised of self contained servers located in various geographic
locations has several advantages. Individual cells will enable
Virtual Gaming to target specific cultural areas with gaming
products and services best suited to the area.
Additionally, individual cells provide added security and
eliminate
downtime of the website. If one cell is out of service, clients can
be
rerouted through other cells without interruption of playing time.
Multiple cells also enable more gamblers to play simultaneously
and Virtual Gaming has the ability to add additional cells as
required.
Wagering & Transactions
Virtual Gaming, in its commitment to customer service, will create
a
simulated live casino experience with a level of professionalism
comparable to a major casino. Software will be available for
downloading directly from the site or from CD ROM. Account
transactions will be facilitated through credit cards, Western
Union wire transfers and direct deposits. Digital identification
certificates verify the customers identity and assure the security of
the transactions.
VIP clients will experience rewards and benefits comparable to
land based casinos including special gifts, airfare packages and
complete complementary packages.
Management
Joseph R. Paravia, President
Mr. Paravia has over 20 years of experience in the gaming
industry. Mr. Paravia was the Vice President of Player
Development of the Tropicana Hotel in Las Vegas, Nevada during
1995 and 1996, where he was responsible for all casino
operations. From 1991 to 1995, Mr. Paravia served as a Director
and Senior Director of Casino Operations for Caesars Palace in
Las Vegas, Nevada, where he was responsible for all casino
operations. Mr. Paravia has extensive experience in developing
and implementing casino policies and
procedures, gaming operations management, and government
regulation compliance. He understands the player and their
expectations through analyzing target markets and trends, creating
and implementing marketing plans and strategies, developing and
managing premium players and credit accounts, and managing
casino accounts.
Daniel B. Najor, Chairman and CEO
Mr. Najor has been the President and a Director of
ContextualTrading
Company Inc. since 1977, a San Diego based business with over
160 employees and annual sales in excess of $15 million. Mr.
Najor serves as a Director of Cypress Financial Services, Inc. a
publicly held company. He has extensive experience in the
management of customer service based firms.
Thomas J. Jackson, Chief Technology Officer
Mr. Jackson is a network professional with 14 years of hands-on
technical experience in network systems integration with a heavy
emphasis on Unix and Windows NT network operating systems.
Mr. Jackson has extensive experience with multiple platforms and
internet applications and has worked with companies such as
Mobil Oil Corporation, Home Federal Savings and Loan, Amylin
Pharmaceuticals and Horizons Technology Inc. to develop and
manage each company's network and computer systems.
John A. Varley, Chief Financial Officer
Mr. Varley is a certified CPA with over twelve years experience
in finance and accounting as a Chief Financial Officer, Controller
and Director of Finance. He has managed finance and accounting
departments representing over $130 million in revenue. Mr.
Varley's experience includes public accounting audits, reviews
and full disclosure compilations, as well as corporate tax
planning.
The Opportunity
The rapid growth and popularity of the internet and gambling
evidences that the internet gaming industry has tremendous
potential. Analysts predict that legalized online gambling could be
a $10 billion a year industry*. In internet language, online
gambling may be the internet's first true "killer application",
attracting millions of potential gamblers on a global basis. The
gaming industry as a whole has experienced strong growth in the
90s and is continuing to grow at a record pace. Several of the
stocks in the gaming sector have had significant appreciation.
"To be successful, internet gambling must compete against other
forms of wagering. The two areas that present the most promise
are casinos and sports wagering. Internet casino gambling has
certain advantages over traditional casinos. The major advantage
is immediacy. The person does not have to leave his or her home
to participate." **
* TIME Magazine, June 12, 1995
**Casino Journal, November 1996, Anthony Cabot
"Eventually most of the internet gaming companies will catch up on
a
technology basis. Where we have the competitive edge is through
our knowledge of the gambling industry and our established
networks. "
JOSEPH PARAVIA, PRESIDENT
"Most internet gambling companies are just that, internet
companies
pursuing the gambling audience. Virtual Gaming's management has
extensive gaming experience, which it will use to capitalize on the
internet."
DANIEL NAJOR, CEO
Trading Symbol: VGTI
Exchange: NASDAQ Electronic Bulletin Board
Shares Outstanding: 5,675,000
Estimated Float: 1,100,000
Market Makers: Hill Thompson, Magid & Company
Wien Securities Corporation
LaJolla Securities Corporation
Paragon Capital corporation
Frankel & Company, Inc.
Moody's listed
Corporate History:
Formerly mba licensing corporation (MBLC) reverse acquisition
completed
june 13, 1996
Corporate Headquarters:
12625 High Bluff Drive, Suite 205A
San Diego, California 92130
Toll Free: (800)530-8825
Investor Relations:
Heidi E. Hirst Toll Free: (888)948-8632
Dawn L. VanZant Toll Free: (888)948-1227
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