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To: MoneyMade who wrote (30036)	8/1/1998 4:32:00 PM
From: MoneyMade	Respond to of 34592

GLOW CONTROVERSEY... First PRWT and now GLOW... otc:GLOW Finance Minister Julius Timothy denies that government plans to open its own world virtual casino No, no, no! "I categorically deny signing any agreement with Global Games Corporation," said Minister of Finance Honourable Julius Timothy. "I have a proposal from them which I am looking at and nothing has been decided. I have not even taken it to Cabinet." But contrary to Mr. Timothy's denial, the Minneapolis Business Wire of July 7th, 1998 states, "Global Games was first contacted by Mr. Julius C. Timothy, Minister of Finance, Industry and Planning for the Commonwealth of Dominica, about building a virtual world casino in Dominica. Global Games subsequently sent a formal proposal to Mr. Timothy to build the 'Virtual World Casino and Sports Book of Dominica, West Indies." (Read the press release here) According to the press statement, the Virtual World Casino, will include virtual casino games as well as full betting Sports Book. "The Sports Book portion of the virtual World Casino needs to be open by the first of August to coincide with the opening week of National Football League season in the United States", the reports stated. Gary L. Borglund, President and CEO of Global Games Corporation has been quoted by the Business Wire as saying: "the Commonwealth of Dominica is the first country to request our software and services. We are working briskly to meet the day deadline. A final agreement is being drafted and is expected to be signed within one week." Since the introduction of internet gaming to help in the diversification of the country's revenue base six internet gaming companies have been established. In his budget address, Mr. Timothy said his Government planned to "maintain the momentum already gained" in the offshore sector and attention was to be paid "to strengthening of our operations and the modernisation of our management system. Government estimates it will bring in EC3,240,000 iin internet gaming in 1998/99. Chief Executive Officer of the six internet gaming operations here told The Independent that he also heard that Government was considering the establishment of its own internet gambling operation. Mr. Emmanuel M. De Riqueza, President and CEO of Global Online Business Inc., in Dominica told The Independent of the Government's involvement in direct internet gaming, "It doesn't hurt me in anyway, because this Government allows any and every body to establish an off-shore company, apply for gambling licences, so there will come in the future many different competitors, better or worse." He is, however, peeved at the Government for what he says is "creating not a good feeling" if indeed it has its own gaming casino on Internet, because he believes that action would be likened to "a franchise company who gives me a franchise licence to establish a branch, then the next moment they move in and establish their own Franchise next to mine." He warns: "I don't think the Government will have the experts to handle their graphics, to keep the maintenance of this programme." Mr. De Riqueza said the Government has only just begun to spend, since the minimum sum required to promote their virtual world casino is US$100,000 to US$500,000 and if there is no more software supply, "they will have wasted their money."