GGNC currently has a internet gaming site located at WWW.Cyberbetz.com. It has revenues coming in daily from it.
There is 4.5 million outstanding shares, of which most is closely held.
The public float is 1.3 million shares.
There were over 500,000 shares BOUGHT last week alone, out of 573,800 total traded.
They have 0 debt, and money in the bank.
Current price range of .30/.38
This one is going to take off very shortly, its time to get on board.
Below is a copy of their latest news release:
BW0090 SEP 24,1998 6:45 PACIFIC 09:45 EASTERN
( BW)(GIC-GLOBAL)(GGNC) GIC Global Announces Letter of Intent Joint
Venture Agreement to Open the World's First $30 Million World Class
Destination Resort/Casino in China
Business Editors
LAS VEGAS--(BUSINESS WIRE)--Sept. 23, 1998--GIC Global Intertainment
Corporation,
(OTC BB:GGNC) a high technology entertainment and marketing company that
specializes in Internet
related technologies, announced today that it has signed a letter of intent with the
Chinese Government,
Heibei Province, Foreign Trade and Economic Department subsidiary. The agreement
calls for GIC to
open up the first ever destination resort casino on a nine acres peninsula directly
adjacent to Dragon
Lake, a renowned tourist area in Heibei Province in Northern China. Dragon Lake is
approximately 14
square miles.
The resort is now fully built and only requires minor surface finishing and interior
renovations. The
constructed building areas total 180,000 square feet of usable space. When completed,
it will house a
world class hotel and casino operation with full convention facilities, restaurants,
lounges, a night club, a
fitness center including a sauna, a steam room, a beauty spa for women and an existing
10,000 square
foot swimming pool that is currently open to the public.
The current site located on the peninsula has room to incorporate a shopping center
either
surrounding, or beside the casino (Las Vegas style), a family entertainment complex with
state of the art
virtual reality electronic equipment, and a motion ride theater complex.
The resort casino will be promoted as a tourist destination point. The casino section of
the property
will only be open to tourists and individuals carrying foreign passports and all gambling
transactions in
the resort casino will be conducted in U.S. currency.
The casino will feature an oversized viewing screen and will project horse racing events
live from the
top 10 horse racing tracks, (e.g. Hong Kong Jockey Club, Macao) and other sporting
events (such as
soccer and football) in the world for the purposes of sports betting.
The resort is centrally located between 3 major cities, Beijing, Tianjin, and Shanghai, 3
major
existing tourist destination points, each populated with more than 20 million people. The
resort is easily
accessible from each of these cities via one or more major highways.
The area of land around the lake has room for ongoing expansion. According to the
agreement, GIC
has the right of first refusal for all future expansions on this land. This will include
additional hotel and
convention space, additional casino operations, a world class horse race track, similar
to the Hong
Kong Jockey Club (daily revenues of U.S. $200 million), an 18 hole golf course.
Since the resort is located directly adjacent to a lake, a full array of water sports,
including water
skiing, para-sailing, jet ski rentals, paddle boat rentals and canoe rentals will be made
available to the
resort patrons. The lake will also house a casino riverboat manage by GIC for gambling
and dining
entertainment for the resort casino.
The letter of intent for the joint venture agreement calls for all of the existing building
structures and
land to be provided to GIC at no cost. GIC will be responsible for completing the
renovations required
to open up the resort/casino, in addition to providing all equipment, casino tables, slots,
video poker
machines, computer terminals for on-line virtual casino gambling, staff and management
required to
make the resort fully operational. For this, GIC will hold the majority position on the
resort/casino and
will have the option to purchase the entire resort at a later date. The agreement also
allows GIC to
manage on-line lotteries and raffles in the local areas surrounding the resort in the Heibei
Province.
GIC has already received expressed interest from major casino management companies
in Las
Vegas and major tourist marketing companies to participate in this project via joint
venture agreements.
These parties are interested in helping to raise the awareness of this location and market
the resort on
an international scale.
The Government of Heibei Province, is interested in turning this area around Dragon
Lake into a
special economic zone that will be a destination point to attract tourism and economic
expansion, and
will be designed to replicate Hong Kong on a miniature scale.
James Chu, president and CEO of GIC stated "This letter of intent is consistent with the
company's
objective of broadening and diversifying the company's market base in the global gaming
industries. We
believe that this joint venture will compliment our company's current corporate focus of
promoting and
marketing our Internet Sports Book and Casino at cyberbetz.com in Asia
and should
contribute significantly to the company's future revenues."
FACTS ON CHINA, RELATED TO THE GAMING MARKET
China is currently populated with over 1.2 billion people. Gambling is one of Asia's most
popular
past times. In discussion with Casino Operators in Las Vegas, approximately 40
percent of casino
revenues are obtained from Asian customers. Of the estimated 500 high rollers in the
world (individuals
who bet more than $1 million at a time ) approximately 80 percent of these people are
Asian.
GIC Global Intertainment Corporation is a high technology entertainment and marketing
company
that searches for proven state of the art technologies that are directly linked to the
Internet, specifically
in the area of Internet gaming. The Company will separate itself from its competition by
issuing its own
Cyberbetz Visa and Mastercard to all new clients that open up accounts with the
company. This will
allow GIC to pay their clients winnings directly to their Cyberbetz Visa or Mastercard
with no delay.
The statements in this press release may contain forward-looking statements within the
meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of
1934 and are
subject to the safe harbor created by these sections. Actual results mat differ materially
from GICs
expectations.
--30--MJB/ho*
CONTACT: GIC Global Intertainment Corporation
Chris Sargent, 604/688-6888 or 877/GIC-WINS
604/688-9382 (FAX)
e-mail: ir@ggncwins.com
ggncwins.com
KEYWORD: NEVADA
INDUSTRY KEYWORD: ENTERTAINMENT SPORTS
INTERACTIVE/MULTIMEDIA/INTERNET TRAVEL/AIRLINES
Of course, do your own DD. If I can answer any questions, feel free to contact me.
Happy investing,
Blessed |
