LAS VEGAS, Jan. 14, 2003 (PRIMEZONE) -- Chimera Technology Corp. (Pink Sheets: CMRA), through its wholly owned subsidiary 724Bingo.com, an innovative Internet Gaming Software Provider/Licensor & e-Commerce services company, today announced it has entered into its first memorandum of understanding (MOU) with Market System Inc. of Singapore, for a non-exclusive license to utilize Chimera's Internet gaming suite.
Chimera will grant its first License, subject to completion of due diligence of Market System, that include the deployment of an Internet website powered by the Chimera Internet gaming suite & management platform.
The Chimera gaming suite includes an online multi-players Bingo platform, which allows thousands of people to participate in any one single bingo game on a "pay to play" basis with potential huge prizes, through the Internet, a standard world class Sports Book Wagering platform as well as a second generation pari-mutuel Sports Book wagering platform that allows players to post their odds on our Licensees' game sites, in addition to the odds run by Chimera's Sports Book operation center.
Ken Chua, President/CEO of the company, stated, "We are extremely pleased to take this first step toward granting our first license to Market System Inc. This will mark a tremendous milestone achievement by our management team. We will continue to attack and meet our milestones to ensure the readiness of our World Launch for all our licensees scheduled for this summer."
Chimera's competitors within the Internet gambling market include Argosy Gaming Co. (NYSE:AGY), International Game Technology Inc. (NYSE:IGT), Cryptologic Inc. (TSE:CRY, NASD: CRYP), World Gaming (OTCBB:WGMGY), Bingo.com (OTCBB:BIGR), Global Entertainment (OTCBB:GGNC), Youbet.com (OTCBB:UBET), Multimedia Games (OTCBB:MGAM).
To obtain further info on Chimera Technology Corp. please visit Internet websites: http://www.chimeratechnology.com, http://www.724bingo.com.
The above statements in regard to Chimera, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Chimera beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and Marketplace changes.
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