LAS VEGAS, Feb. 24, 2004 (PRIMEZONE) -- VirtGame Corp., (OTCBB:VGTI), a provider of innovative server-based software solutions to the regulated gaming and lottery industries, announced today that its PrimeLine SportsBook(tm) has been deployed and gone live at Casino Fandango.
Casino Fandango, based in Carson City, Nevada, recently selected PrimeLine SportsBook as the best solution for its needs. The casino was seeking an advanced gaming software system that would allow it to introduce Fandango's own independent sports book system that takes bets and manages risks internally.
"We are very excited to launch our first sports book at Casino Fandango. VirtGame's PrimeLine SportsBook meets all of our sports book management requirements. It is a complete management system that is easy to use, easy to install, and is far more flexible and scaleable than the other system that is currently approved in Nevada," stated Casino Fandango's Manager, Mr. Steve Forester.
VirtGame's distribution partner, Las Vegas Dissemination Company (LVDC), the exclusive marketer of PrimeLine SportsBook and PrimeLine RaceBook(tm), is responsible for the licensing agreement with Casino Fandango.
PrimeLine SportsBook is a Nevada-style fixed odds sports wagering management system that tracks customer wagers on various sporting events with back office activities that provide risk management. PrimeLine is the back-end for VirtGame's SBX (Sport Bet Xpress), Nevada's first sports wagering route which brings customers and casinos together through a network of sports wagering kiosks in non-casino licensed locations such as bars and taverns. SBX broadens casinos' brand reach while allowing their customers more frequent sports book participation through an extended network.
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 www.virtgame.com or contact Bruce Merati at (858) 373-5001 or bmerati@virtgame.com, or Laurel Moody at Sky Investor Relations at 212-440-5000 or laurel@skyir.com 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.