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Gaming Transactions Inc. Enters Online Casino Industry; Company's Flagship Site is Keno.com
Gaming Transactions Inc., a leading provider of online gaming portal management is pleased to announce its entry into the online gaming entertainment sector with the acquisition of Keno Ltd. (UK), the licensee of www.keno.com. The acquisition, which finalized on September 30th of last year, includes the licensing of gaming transactional software and a number of games. Since then, the Company has built its infrastructure and attracted a management team with depth and experience in e-commerce; specifically, internet gaming and casinos.
The URL Keno.com site was redeveloped by FourGround Image Inc., ("Foreground") a high technology, design and post-production faculty headquartered in Toronto, Canada.
The Company has also developed relations with credit card processing companies, and integrated operations with the gaming transaction software. The web servers are now being load tested with the www.keno.com site now in beta testing.
Gaming Transactions Inc. is part of the online gambling trade, which is one of the fastest growing industries on the Internet. Management consulting and market research firm Christiansen Capital Advisers reports Internet wagers worldwide reached $5.7 billion in 2003 and are projected to hit $16.9 billion by 2009.
Patrick Smyth also stated, "Keno.com is a great natural URL for this industry, and our focus will be to develop a rich Keno Games portal. I am excited to be given the opportunity to work with such a strong and viable venture, one which will pave the way in the morphing fields of the Online Gaming and Entertainment Industry. Building shareholder value through properly structured business development and strict adherence to fundamental control on expenses is paramount to my role, as is the growth of the company through online sales and portal acquisition."
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Exchange Act of 1934 and the provisions of the Private Securities Litigation Reform Act of 1995 and is subject to safe harbor created by these sections. Actual results may differ materially due to a number of risks, including, but not limited to, technological and operational challenges, needs for additional capital, changes in consumer preferences, 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 software providers, URL providers, risks relating to international operations, and risks associated with competition.
Legal sources said the gamblers were let off because it was deemed they had not violated any law, since the scanner did not interfere with the ball or wheel, The Sunday Times reported.
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