HOUSTON, March 14, 2005 (PRIMEZONE) -- Summit Entertainment Group, Inc. (Pink Sheets:SETG) is proud to announce that it has finished the contract to begin On-Line operations of its first "Summit Online Casino" with FB Systems. This marks Summit's introduction into the online gaming segment and should be a wonderful complement to the focus of Summit's Land and vessel based business plan.
The FB Systems staff believes that its proprietary systems represent the finest interactive gaming compilation available anywhere. Additional software research and development efforts are continuously ongoing to ensure that the company's products remain on the leading edge of technology.
Forrester Research Inc. stated, "By 2010, online sales will reach $331 billion. The growing population of online shopping households combined with retailer innovations and site improvements will drive eCommerce to account for 13% of total retail sales in 2010, up from 7% in 2004. Between 2004 and 2010, online sales will grow at a 15% compound annual growth rate."
Summit's President John D. Jarvis stated, "We believe that the On-Line division of Summit will produce somewhere in the neighborhood of $100,000 to $300,000 per month to the company's bottom line in net profits."
Jarvis concluded, "This is a very conservative estimate given the fact that the number one site using the FB systems software is netting near 10mil a year."
Some of the FB Systems Inc. stable of partner sites include www.sportsbookusa.com www.interchamps.com, www.kingpinsportsbook.com, www.usasportscasino.com, www.jollycasino.net, www.pokerroom.com -- 2nd largest poker platform on line, and Hollywood actor James Wood's newest venture Hollywoodpoker.com.
About Summit Entertainment Group Inc.
Headquartered in Houston Texas, Summit Entertainment Group, Inc. (Pink Sheets:SETG) aspires to be a leading diversified owner and operator of multiple entertainment properties, including developments located in Las Vegas, Reno Nevada and Louisiana. Summit Entertainment Groups press releases are available at the company website located at http://www.summitentgroup.com or www.knobias.com . Additional news and information on Summit can be obtained by contacting the company directly at (281) 255-9424
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