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Microcap & Penny Stocks : American Digital Corp (ADCM) -- Ignore unavailable to you. Want to Upgrade?

To: Wealthy1 who wrote (191)	6/1/1999 1:28:00 PM
From: Ed Pakstas	Respond to of 228

**NEWS RELEASE** (Applies to: ADCM CDWN TSTR) American Digital Communications Inc. Announces Three New Tracks on the TrackPower service NEW YORK (June 1) BUSINESS WIRE -June 1, 1999--American Digital Communications Inc. (OTC BB:ADCM) announced today a non-exclusive agreement to broadcast live horseracing from Monmouth Park, Colonial Downs, and Evangeline Downs. These agreements bring the number of tracks available on the system to ten, including some of the nation's largest tracks such as The Meadowlands and Santa Anita Park. Upon signing, Graham Simmonds, VP and General Manager of ADCM stated, "We are very pleased that these organizations have chosen TrackPower to distribute their racing product and to broaden their audience. We are on target with our projections thus far, and we are currently in discussions with many other tracks." TrackPower is a multi-channel digital satellite television service for horse racing. The TrackPower service allows racing fans to watch full-card simulcasting from premier racetracks in their home or office. TrackPower is offered in conjunction with EchoStar's SkyVista DTH service, which includes over 20 channels of the "Best of Satellite" package. This service also includes regular broadcast network signals, one premium channel of HBO, one adult channel of Extasy as well as foreign and niche programming for additional monthly charges. Monmouth Park has established a reputation as one of thoroughbred racing's top summer racetracks. On-track handle and attendance have risen in the past five years, reversing the national trend, and Monmouth Park continues to be the crown jewel in the New Jersey thoroughbred racing circuit. The meet is highlighted annually by the $1 million Buick Haskell, which in recent years has been won by champions Skip Away, Holy Bull and Serena's Song. Monmouth Park, which originally dates back to 1870, was purchased by the NJSEA in 1985. For more information visit monmouthpark.com. Colonial Downs' second harness meet will commence on May 31 and conclude on August 4, 1999. The Company will host races on Monday, Tuesday, and Wednesday afternoons. The thoroughbred meet will run from September 5 through October 10. Colonial Downs Holdings Inc. is a Virginia corporation organized in November 1996 to pursue opportunities for pari-mutuel horse race wagering in Virginia. The Company through its subsidiaries holds the only unlimited licenses to own and operate a pari-mutuel horseracing course and satellite wagering facilities/racing centers in Virginia. Colonial Downs Holdings, Inc. became a publicly held company in March 1997 and trades on the NASDAQ National Market System under the symbol CDWN. For more information visit colonialdowns.com. Evangeline Downs, Cajun Country's Birthplace of Lil 17 -- September 6 in 1999 and year-round simulcast racing. In November 1988, Evangeline Downs became part of Louisiana racing history by being the sole recipient of the first inter-track wagering signal in the state, simulcasting races from the New Orleans Fair Grounds. For additional information visit evangelinedowns.com . Through TrackPower International Inc., ADCM delivers high quality live horseracing video to subscribers throughout North America. ADCM uses the Skynet Direct Platform to broadcast the TrackPower service. Skynet Direct is Loral Skynet's transmission and distribution service that offers programmers a combination of its Telstar fleet space segment with compression, encoding, uplinking, format conversion and multiplexing from EchoStar Satellite Corporation's existing facilities in Cheyenne, Wyo. EchoStar also provides order processing, set-top box authorization, and billing from its customer service center in Denver. For additional information, contact Graham Simmonds at 905/839-1430, or by email at simmonds@trackpower.com . This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties. -0- MJB/ho* CONTACT: American Digital Communications Inc. J. Graham Simmonds, 905/ 839-1430 x352 Email: simmonds@trackpower.com KEYWORD: WYOMING NEW JERSEY COLORADO INTERNATIONAL CANADA INDUSTRY KEYWORD: TELECOMMUNICATIONS COMED SPORTS ENTERTAINMENT Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com

To: Wealthy1 who wrote (191)	6/1/1999 1:48:00 PM
From: Ed Pakstas	Read Replies (1) \| Respond to of 228

Got this via Raging Bull ... Stronach ventures closer to his dream Austrian soccer stadium, theme park in works By Tony Van Alphen Toronto Star Business Reporter Fledgling sports magnate Frank Stronach says he is pursuing a soccer stadium and theme park complex near Salzburg in his native Austria that will cost more than $100 million (U.S.). Stronach, founder and chairman of auto parts giant Magna International Inc., said yesterday that the company subsidiary, Ventures, has signed a letter of understanding with the Salzburg provincial government for the project and cost sharing. The project calls for construction of a stadium seating 20,000 to 30,000 with the theme park underneath the stands. The park would be based on a fairy tale theme, including possibly characters from tales of the brothers Grimm, Stronach said. Government officials say Ventures would pay 51 per cent of the stadium's construction and 100 per cent of the theme park. Stronach said building a soccer stadium alone in Salzburg doesn't make much sense since the city's top pro club plays only 20-25 home dates a year. Including the theme park increases the stadium's use and feasibility, he added. ''I think it's very economically viable,'' Stronach said. ''We've signed something like a letter of understanding. It's a win-win for everyone.'' Ventures, which Aurora-based Magna will spin off into a separate public company this fall, has already completed some positive research work on the project's viability, he said. Stronach said Ventures' contribution is still uncertain because it is seeking partners for the project. The cost of the project could reach as high as $120 million, Stronach said. He added that construction should start next year or 2001 and probably finish in 2002. The project, like other recent Stronach initiatives in Austria, is facing some opposition despite the provincial government's approval. A citizen's group has launched a campaign against the ''fairy tale stadium.'' Some local and provincial politicians have also raised objections on the grounds that it will lead to traffic congestion in the area. ''That's for them (the government) to deal with,'' Stronach said. ''It has nothing to do with us. They have to decide.'' Stronach, who will probably head Ventures, has become a busy figure in Austrian and American sports circles during the last two years. He is president of the Austrian soccer league and has gained the marketing rights for several premier division teams with the goal of creating a sports television network that contains a betting channel. Stronach also wants to build a horse race track and theme park near Vienna but a local municipal authority has rejected a request for rezoning. Magna Europe will resubmit a new proposal soon, a company official said. A Magna subsidiary bought the Santa Anita race track in California for Ventures late last year for $126 million. Ventures is spending about $20 million on track renovations in a first stage and plans further commercial and residential development, according to Stronach. Ventures is also actively scouting for more tracks in the United States so it can create a network that would lead to betting via the Internet. Stronach, who was chosen the top thoroughbred horse owner in North America last year, believes international gaming and tourism offer huge business opportunities. Magna is moving about $300 million in non-auto assets and $250 million in cash into Ventures to pursue projects outside the auto industry. --------------------------------------------------------------------------------