HENDERSON, Nev., May 6, 2004 (PRIMEZONE) -- "It happened with music; it's happening with movies; could gambling be next? Although major legal hurdles loom, some feel it is inevitable that online gambling will become legal and regulated in the United States and become an increasingly larger part of the business of gambling," said Donald Bailey, chairman of Atlantis Internet Group (Pink Sheets:ATIG). "Our company is already deriving revenue from licensing its software to U.S. casinos for `play-for-fun' gambling web sites."
When will the new frontier called Internet Gambling -- that is estimated to already be a $6 billion a year industry offshore -- become a legitimate multi-billion dollar industry within the United States?
"Some believe that legislation may be enacted to regulate online gambling when licensed gaming executives from Las Vegas and Atlantic City become involved in the business; when Internet Gaming software is embraced as reliable by the regulatory gaming agencies; and when the product is used online by a licensed casino in Nevada or New Jersey," continued Bailey.
Atlantis Internet Group may be uniquely positioned from its competitors in working toward the achievement of these benchmarks for the following reasons:
1) Atlantis Internet Group Corp. is based in the U.S. and is working with gaming industry executives as consultants;
2) Atlantis Internet Group Corp. has created a website (www.avicasino.com) for a licensed Nevada casino. This site was created to conform to the requirements of Nevada State gaming regulations in anticipation of the possibility of legalized play-for-money gambling; and
3) Atlantis Internet Group Corp. has created a play-for-fun online gambling site with multiple Las Vegas style games that is being utilized by a traditional brick-and-mortar casino (www.avicasino.com).
While there can be no assurance that online gambling for money will become legal in the United Sates, Atlantis Internet Group Corp. is creating software that can be utilized for both play-for-fun as well as play-for-money online gambling. The company, among other things, is leasing play-for-fun online gambling web sites to brick-and-mortar casinos where they can help drive traffic and business to traditional casinos.
About Atlantis Internet Group Corp. (www.AtlantisInternetGroup.com)
Atlantis currently offers a variety of leading technological software products for the Internet Gaming industry from In-Room Gaming Systems to high-resolution Palm Pilot gaming products. Atlantis' online technology allows wagers to be placed from home, the office or anywhere in the world where allowed by law via the Internet, without the need to download resident files.
Utilizing licensed gaming executives as part of its executive team to oversee its state-of-the-art online gaming products, Atlantis Internet Group Corp. is bridging the gap between traditional gaming casinos and online gaming. Atlantis Internet Group Inc. is the first company to interface its online games with industry standard player tracking systems.
Internet users can "play-for-fun" at www.atlantisinternetgroup.com. Games include: blackjack, roulette, craps, slots and more.
The games utilize industry-leading technology. In addition, the web site features links to Atlantis Internet Group clients, corporate information, and descriptions of products the company offers.
For more information, please contact: Investor/Media relations: Tom Speciale, 631-393-5137 Shareholder Relations: Curt Kramer, XXR Consulting, 866-498-9890. Atlantis Internet Group Corp. 10120 South Eastern Avenue, Suite 200 Henderson, NV 89052.
ATLANTIS INTERNET GROUP CORP. FORWARD-LOOKING STATEMENT DISCLAIMER: Statements in this press release which are not historical, are forward-looking statements 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 risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with Internet gaming and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on licensees and key licensees, risks relating to international operations, risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements.