Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : eLottery.com (ELOT) / (NASDAQ NM:XTON) -- Ignore unavailable to you. Want to Upgrade?

To: LONE EAGLE who wrote (1265)	6/15/2001 8:14:13 AM
From: Toni Wheeler	Respond to of 1266

More News and CC scheduled: "The management of eLOT, Inc. will conduct a conference call on Monday, June 18, 2001 at 2:00 p.m. eastern time to discuss details of the recently announced Asset Purchase and Management Contract with FreeLotto. Significant benefits of the agreement include: Enabling the Company to reach break-even on a cash flow basis by the end of this year Satisfying eLOTO s obligation to FreeLotto under the previous agreement and providing more favorable terms for acquiring additional unique users going forward Allowing the Company to accelerate building a multi-million player database in anticipation of selling lottery tickets on the Internet Positioning eLOT to pursue a roll-up strategy with other sweepstakes and direct marketing sites Insuring eLottery will have the longstanding ability to dedicate resources toward assisting governmentall lotteries in achieving their e-commerce goals To access the call, please dial: 212-346-7488 The call will also be broadcast over the Internet at www.vcall.com" * * * * * * * * * * * Nevada Gov. Signs Web Gambling Law dailynews.yahoo.com CARSON CITY, Nev. (AP) - "Nevada Gov. Kenny Guinn has signed off on a law that allows Internet gambling casinos even though the Justice Department (news - web sites) says the practice is illegal. Guinn signed AB466 Thursday. State officials say court challenges elsewhere could change the federal government's position and they don't intend to defy federal law. Casino executives think there is a huge untapped market for Internet gambling. Experts estimate that revenues from Internet gambling - largely conducted by offshore companies because of the U.S. ban - reached $1.5 billion last year and could reach $6 billion by 2003. At least three Las Vegas gaming companies - Park Place Entertainment, MGM Mirage and Harrah's Entertainment - have invested in technology firms developing equipment for Internet games and all three have Internet sites offering non-cash casino games and prizes. To ensure Nevada's expansion into Internet gambling moves ahead smoothly, the state Gaming Control Board and state Gaming Commission must first draft and adopt rules governing such gambling. Those requirements would include assurances that minors won't be able to play. Also the games couldn't be conducted from states that prohibit gambling. Hotel-casinos with unrestricted gambling licenses could apply to conduct Internet gambling, posting a $500,000 fee when applying for a two-year license. A manufacturer of an interactive gambling device would pay a $250,000 license fee; a $100,000 fee would be assessed against a manufacturer of equipment associated with a gambling device; and a $50,000 fee would be charged for a license of a manufacturer of peripheral equipment. Casinos would pay a 6 percent tax on the gross win from the Internet." * * * * * * * * * * * siliconinvestor.com WESTON, Fla., Jun 12, 2001 (BUSINESS WIRE) -- "TheSUBWAY.com releases the following investment opinions on Roanoke Technology Corp. (OTCBB: RNKE chart, msgs), Exodus Communications Inc. (Nasdaq: EXDS chart, msgs), eLOT, Inc. (Nasdaq: ELOT chart, msgs), Telenetics Corp. (Nasdaq: TLNT chart, msgs) and GenVec, Inc. (Nasdaq: GNVC chart, msgs). eLOT, Inc. (Nasdaq: ELOT chart, msgs) Previous Close: Up 30% to $0.65 on vol. 3,590,600 Shares: ATTRACTIVE eLOT, Inc. (Nasdaq: ELOT chart, msgs), a provider of web-based retailing and marketing services to governmental lotteries, announced that it has signed a definitive asset purchase agreement with PlasmaNet, Inc. for the acquisition of FreeWorldLottery, an international sweepstakes modeled after PlasmaNet's tremendously successful FreeLotto. eLOT and PlasmaNet have concurrently agreed to a management contract intended to materially enhance near-term revenue opportunities for eLOT. The combined effect of these two agreements should generate sufficient cash resources to sustain eLOT's operations through 2001 and achieve operating profitability (before goodwill amortization) by Q1 of 2002. PlasmaNet CEO Kevin Aronin commented: 'This transaction builds upon a partnership begun a year ago with eLOT's purchase of our government lottery information web site. eLOT and PlasmaNet agree that there is a genuine correlation between the free lottery sweepstakes player and the governmental lottery player. Our experience and research shows a 70% overlap between the two groups of players. We believe governmental lotteries will begin to see the value of creating a relationship with this vast number of their customers who are Internet enabled. Together with eLOT we have the skills and technology to become a dominant force in the $140 billion worldwide lottery market.' eLOT, Inc. is committed to leading the governmental lottery industry into the e-commerce market."