VirtGame and United Coin Unveil Sports Bet Express - Nevada's First Sports Wagering Route
December 10 2003 - 8:00AM
PR Newswire (US)
VirtGame and United Coin Unveil Sports Bet Express - Nevada's First
Sports Wagering Route LAS VEGAS, Dec. 10 /PRNewswire-FirstCall/ --
VirtGame Corp. (BULLETIN BOARD: VGTI) and United Coin Machine
Company announced today the launch of Sports Bet Express (SBX),
Nevada's first sports wagering route. VirtGame Corp. is a provider
of innovative server-based software to the regulated gaming and
lottery industries, and United Coin Machine Company, a subsidiary
of Alliance Gaming Corp. , is America's largest slot route
operator. Sports Bet Express is a private network for sports
wagering that is designed to allow fans to remotely place sports
wagers from licensed gaming locations, such as bars and taverns,
throughout Nevada. The network employs VirtGame's PrimeLine(TM)
sports book software to facilitate sports account wagering into
participating Nevada casinos' race and sports books through
terminals placed in licensed locations. The SBX software provides
the opportunity to bet on a variety of sporting events played
around the world. The PrimeLine(TM) service is one of only two
sports book systems with regulatory approval as an over-the-counter
sports book in Nevada and is both web and kiosk enabled. VirtGame
Corp. has received a letter from the Nevada Gaming Control Board
approving the deployment of the system in a formal trial. During
the trial, United Coin will place the wagering stations in 25 of
its Southern Nevada locations and Bally's Park Place has committed
to participate as the initial sports book linked to the SBX system.
Upon a successful completion of the trial and final regulatory
approval, United Coin has plans to distribute and install the SBX
wagering stations in the local market. With approximately 8,400
gaming devices operating in 675 locations such as taverns,
restaurants, supermarkets, drug stores and convenience stores
throughout Nevada, United Coin is the largest slot route operator
in the country. "The ability to offer remote sports wagering
throughout Nevada in local licensed gaming locations, such as bars
and taverns with slot machines, is a tremendous milestone for the
industry. SBX should benefit both route locations and the casinos
and books that participate on the system by providing convenient
and secure wagering stations for players to make a variety of
approved sports bets. We expect SBX to be an important addition to
our product offerings and are looking forward to expanding the SBX
network in Nevada," commented United Coin Machine's President, Bill
Nader. Bruce Merati, VirtGame's CEO added, "We are pleased to be in
partnership with the largest slot route operator in the U.S.
Through this venture SBX has the benefit of United's extensive
distribution channel which will provide SBX access with
participating bars and taverns possessing the requisite gaming
licenses. We believe strongly that the Sport Bet Express will
transform the market to the benefit of consumers, casinos, and
taverns." About VirtGame Corp. VirtGame Corp. is a provider of
innovative server-based networked gaming software solutions to the
Gaming and Lottery industries. The Company has built the VirtGame
SP(TM), a comprehensive, scalable and customizable gaming platform.
VirtGame's server-based products, when used in combination, and
individually, create greater efficiencies, reduce costs, and
increase revenues for regulated casinos and lottery operations. For
more information, please visit http://www.virtgame.com/ or contact
Bruce Merati at (858) 373-5001 or , or Laurel Moody at Sky Investor
Relations at 212-440-5000 or for more information. Safe Harbor
Statement The statements contained in this press release that are
not historical are "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended (the
"Securities Act"), and Section 21E of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), including statements,
without limitation, regarding our expectations, beliefs, intentions
or strategies regarding the future. We intend that such
forward-looking statements be subject to the safe-harbor provided
by the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements relate to, among other things: (1)
expected revenue and earnings growth; (2) estimates regarding the
size and our penetration of target markets; (3) adequacy of
available working capital. These statements are qualified by
important factors that could cause our actual results to differ
materially from those reflected by the forward-looking statements.
Such factors include but are not limited to: (1) our receipt of
adequate working capital as required, (2) our auditors'
qualification of their report on our financial statements as to
doubts about our going concern, (3) the early stage of development
of the market for software for the regulated gaming industry, (4)
lack of market acceptance to date for the Company's products and
services, (5) our receipt of nominal revenues to date, (6) our
continuing losses from operations to date, and (7) federal and
state regulation of our business. These forward-looking statements
are made as of the date of this release, and the company assumes no
obligation to update such forward-looking statements. Refer to the
company's Form 10-KSB for the year ended December 31, 2002 filed
with the Securities and Exchange Commission for more information,
as well as, other filings including the company's Form 10-QSB
quarterly reports. DATASOURCE: VirtGame Corp. CONTACT: Bruce Merati
of VirtGame Corp., +1-858-373-5001, ; or Laurel Moody of Sky
Investor Relations, +1-212-440-5000, , for VirtGame Corp. Web site:
http://www.virtgame.com/
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