ORLANDO, Fla., April 29, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB) today announced it has entered into preliminary talks to acquire online gaming software from Chimera Technology Corp. ("Chimera") (Pink Sheets:CNOC) (http://www.chimeratechnology.com).
TS&B subsidiary, TS&B Gaming & Entertainment Corp., intends to develop an Online Casino and Website that will include blackjack, roulette, craps, pai gow and slots, among others. The Company will continue to review other potential acquisitions and software as talks continue with Chimera Technology Corp. TS&B Gaming & Entertainment Corp., a wholly owned subsidiary, was created solely for the purpose of positioning the Company in the $600 billion dollar Gaming Industry.
The CEO of TS&B Holdings, Inc. James E. Jenkins stated, "we are very excited about the opportunity with Chimera. Interactive gaming or 'iGaming' as it is commonly referred to, has quickly become the internet's second most profitable business environment. Millions of people the world over have discovered an exciting, safe and convenient form of virtual entertainment accessible from the comforts of their home, 24hours a day, 7 days a week."
According to industry analysts iGaming as a global industry has in fact become so large, so fast, that analysts from the likes of Bear Sterns and Datamonitor have been forced to reevaluate annual growth forecasts. Conservatively pegged at $5 billion today, the iGaming market is predicted to be somewhere in the neighborhood of $7-10 billion next year, with the stunning forecast of US $125 billion for the year 2015.
This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of products, services and technologies; changes in local currency valuations; the Company's ability to continue to secure sources of financing; and other factors as described in the Company's filings with Securities and Exchange Commission. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.