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Non-Tech : Applied Gaming Solutions - AGC (ASE) -- Ignore unavailable to you. Want to Upgrade?

To: kidl who wrote (464)	10/26/1999 10:21:00 AM
From: Dora	Read Replies (2) \| Respond to of 509

How come there is so little interest on this forum on what is going on with AGS? Here are two NR in 4 days. This last one certainly seems extremely good news and it indicates that things are going very well (re. the commitment of the gvt.to the success of this lottery.) 9:40:06 AM Attention Business Editors: AGS's Vietnam Lottery Revenues to Increase Faster Than Initially Projected CALGARY, Oct. 26 /CNW/ - Applied Gaming Solutions of Canada Inc (AGS) is pleased to announce that the Construction Lottery of the Capital-Hanoi (CLCH) has accelerated its plan to shift its traditional paper lotteries onto the modern online lottery system implemented by AGS. The formal request by the Government of Vietnam to move the CLCH's most popular paper lottery game to the online system was received last week by AGS. This traditional daily lottery Pick 2/Pick 3 game accounts for over 25% per cent of current CLCH revenues. AGS has a seven-year exclusive agreement with CLCH to manage the online lottery system and receives a percentage of gross revenue generated from all lottery games played on the online system. ''The addition of these established paper lottery games to the new online system will not add materially to our operating costs,'' said David Aftergood, President and CEO of AGS. ''But there will be a material impact on our revenues since these new products will drive even greater traffic to our lottery terminals.'' The Government of Vietnam had planned to operate its existing manual paper lotteries in conjunction with the modern online lottery. The old paper lotteries had been scheduled to be phased out over the next 12 to 18 months, but the efficient operation of the new AGS system has convinced officials to accelerate the transition to the online system, Aftergood said. Work has already begun by AGS to implement the changeover requested by the Vietnamese. AGS expects that the impact of the new revenue will be felt in the first quarter of 2000. TELEVISION COVERAGE TO START IN VIETNAM On a related matter, AGS was informed on October 25, 1999 that official permission has been granted by the Government of Vietnam to televise the daily lottery draws over state run television stations. ''No other lottery draw in Vietnam has ever been televised. The Government of Vietnam controls the broadcast system and they are very cautious with program content. These two events represent a huge step forward and clearly demonstrate the Government's commitment to the success of our modern online lottery program,'' said David Aftergood. Applied Gaming Solutions of Canada Inc. is a leader in providing comprehensive, integrated on-line lottery products around the world. AGS currently operates an on-line lottery system for the Construction Lottery of the Capital-Hanoi in Vietnam. AGS is also licensed in the Canadian provinces of Ontario, Alberta and Saskatchewan with several other licenses pending. AGS common shares trade on The Alberta Stock Exchange under the ticker AGC. SEC 12g exemption 82-4832 The Alberta Stock Exchange neither approved nor disapproved the contents hereof. %SEDAR: 00009082E -0- 10/26/1999 For further information: Website: www.ags.ca, Rob Hetherington, Communications Co-ordinator, Phone: 1-888-685-7788, Fax: (403) 266-8909, E-mail: info@ags.ca -------------------------------------------------------------------------- Release sent courtesy of Canada NewsWire Portfolio Email. To update your email portfolio, point your web browser here: portfolio.newswire.ca Please address any questions about your portfolio to cnw@newswire.ca Visit newswire.ca to view CNW's unique, new Canadian Earnings information centre - the place to find comprehensive, up-to-date, earnings information and history for Canadian public companies. Tap the power of our website to access the most recent and complete earnings information available in Canada. Or get more company information by planning to attend one of the growing number of online earnings conference calls by visiting our site to learn the time, date and url for the call. ----------------------------------------------------------------------