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.

Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: P.E. Allen who wrote (5971)	5/25/1999 8:59:00 AM
From: Mr. Fortune	Respond to of 108040

(BSNS WIRE) Bingo & Gaming to Enter North Dakota - Signs Exclusive Distr Bingo & Gaming to Enter North Dakota - Signs Exclusive Distribution Deal with Midwestern Enterprises Business Editors AUSTIN, Texas--(BUSINESS WIRE)--May 25, 1999--Bingo and Gaming International, Inc. (OTC BB:BING), an Austin-based distributor of prepaid phone cards and machines that distribute its prepaid phone cards, announced today that it has signed an exclusive distribution contract with Midwestern Enterprises, Inc. for the placement and operation of its Lucky Strike pre-paid phone card machines in the state of North Dakota. Bingo & Gaming estimates that the agreement will lead to the sale of approximately 180 new machines, increasing its revenues from machine sales by $837,000 or 700 percent over last year. "We are really excited about this partnership with Midwestern Enterprises and the potential it holds for our company," says Bingo & Gaming International CEO, Reid Funderburk. "This deal definitely takes us up to the next level. The gross margin on the machines alone should be about $125,000, which is pretty significant when you consider that our entire net profit for 1998 was just $126,646." North Dakota is expected to be a huge market for Bingo & Gaming's Lucky Strike machines. The company predicts that sales from the additional machines this deal will put into the market could reach $350,000 - $375,000 by the end of the fiscal year. That should significantly impact the company's overall annual revenues. Bingo & Gaming International sells, rents, operates and services Lucky Strike machines. The prepaid phone card vending machines employ a novel marketing concept which permits consumers to enter a free promotional sweepstakes offering cash prizes from $1 to $1,000 with every phone card purchase. The company also operates as a lessor of charity bingo facilities. The company's growth strategy includes selectively broadening the geographic scope of its operations by entering new markets. Pending legislation and distribution contracts may enable Bingo & Gaming International to sell its machines in several more states this year than it has done in the past. The company already has its machines placed in Texas, Oklahoma, Arizona, Connecticut, Idaho and Illinois. Most of its machines are located in charitable bingo halls and Indian bingo facilities, but some are located in bars and bowling alleys. For more information, contact David Drake of Merger Communications at 713/267-2328 or daviddrake@earthlink.net. The statements made by Bingo & Gaming International may be forward looking in nature. Actual results may differ materially from those projected in forward looking statements. Bingo & Gaming International believes that its primary risk factors include, but are not limited to: the need for substantial financial requirements; the need to develop effective internal processes and systems; changes in the overall economy; changes in technology; the number and size of competitors in its markets; changes in the law and regulatory policy; and the mix of product and services offered in the company's target markets. Merger Communications (Merger) is a media relations firm employed by the Company. The statements and opinions presented here represent the views of the Company, not Merger, as the release is based on the information provided by the Company. Merger and the Company believe that all information in this release has been obtained from sources considered reliable, but can not guarantee that the statements presented herein are accurate or complete. Merger's compensation for its media relations services, including preparation of press releases, consists of a monthly retainer and restricted stock. Merger may have a long position in the securities of the companies in which it distributes information to the media, and Merger may be buying or selling securities in the course of its regular business. --30--SL/na* CONTACT: Merger Communications David Drake, 713/267-2328 KEYWORD: TEXAS OKLAHOMA ARIZONA CONNECTICUT IDAHO ILLINOIS NORTH DAKOTA INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET BANKING ENTERTAINMENT Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *