Business Services Industry
Starnet Annouces Four New Internet Gaming Licenses
Business Wire, July 24, 1998
WILMINGTON, DELAWARE--(BUSINESS WIRE)--July 24, 1998--Starnet Communicatio(OTC Bulletin Board:SNMM) Starnet Communications International Inc. (NASD OTC-BB: "SNMM") ("Starnet") is pleased to announce that it has licensed Softec Internet gaming systems to four independent operators.
Aztec Gaming Inc., a private investment company based in Venezuela, has licensed a Softec Internet gaming system which is fully operational at http://www.aztecgaming.com
Acorn Development Group LLC has licensed a Softec system which is being marketed overseas at http://www.superbet.com
Global Interactive Ltd., a private Internet marketing company based in St. Kitts, has licensed a Softec Internet gaming system which will be operated at http://www.classiccasino.com
Las Vegas Casino Inc., a Panama based Internet gaming company which currently operates fifteen Internet casinos, will leverage its Softec Internet gaming technologies onto internationally marketed web sites such as http://www.lasvegascasino.com
These four licensees will each be provided with a customized, turn-key Internet gaming system, which features products such as virtual Casino games, a Sportsbook with real-time odds fed from Las Vegas and Europe, a virtual Bingo hall and international lottery ticket brokerage. The licensees' customers can place wagers via the Internet using a secure financial transaction system.
Softec Systems Caribbean Inc. (http://www.softecsystems.com) is a wholly owned Starnet subsidiary, which licenses its Internet gaming technologies to independent operators in exchange for participation in the licensees' revenues. Softec now has ten licensees. 6 The Financial Times has estimated that the Internet gaming market will yield annual net earnings of US $10.2 billion by the year 2002. Forbes magazine has described Starnet as "the Microsoft of casino software vendors."
Starnet is a fully reporting, publicly held company, which identifies and commercializes Internet Technologies for established entertainment markets.
The statements in this press release may contain certain 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 is subject to the safe harbor created by these sections. Actual results may differ materially from Starnet's expectations.
CONTACT: Starnet Communications International Inc.
Alan Poole, 888/777-6458 or 604/685-7619
604/684-0391 (FAX)
or
Starnet Communications International Inc.
Laurie Dunn, 888/777-6458 or 604/685-7619
604/684-0391 (FAX)
or
Starnet Communications International Inc.
Toma Sojonky, 888/777-6458 or 604/685-7619
604/684-0391 (FAX)
Web site: http://www.snmm.com
E-mail: ir@snmm.com
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