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Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential ! -- Ignore unavailable to you. Want to Upgrade?

To: TrumpCards who wrote (4228)	7/7/1998 9:17:00 PM
From: CoffeePot	Read Replies (1) \| Respond to of 8879

<LICENSING FEES COULD EXCEED $10,000,000 The deal is expected to be finalized within a week.> This could really take off and soon MINNEAPOLIS, July 7 (Reuters) - Dominica may be the next gambling hot spot after the small eastern Caribbean island signed a preliminary deal with Global Games Corp. (GLOW - news) to design and build a virtual casino. The Virtual World Casino will include Internet casino games, as well as a full betting Sports Book, Global Games said Tuesday. The company hopes to have at least the Sports Book open by August when the U.S. National Football League's season begins. While gamblers can already place bets over the Internet on other commercial sites, Minneapolis-based Global Games said this will be the first government-sponsored virtual casino. The deal is expected to be finalized within a week. Global's stock climbed $0.08 a share on the news to $0.30 a share, with 800,000 shares changing hands. The Internet services company hopes to hit the jackpot with the deal, which calls for Global to receive licensing fees which it estimates could exceed $10 million, Gary Borglund, president and chief executive, said in a telephone interview. The site will offer bingo and sports betting at first, but Global hopes to add blackjack soon, Borglund said. Users will buy virtual chips with a credit card. Winnings up to the amount purchased on the card will be credited. For anything over that amount, Dominica will mail a check, he said. Global Games provides secure Internet transaction processing and licenses software for Internet gaming.