Virtgame.com Vies for Nevada Market

Virtgame.com has finalized an agreement with Coast Resorts, Inc. to provide an online closed-loop sportsbook system available exclusively to Nevada residents. The system is being sent to the Nevada Gaming Control Board in February for formal review. Virtgame expects to receive approval shortly thereafter, with the system to be operational by second quarter 2000.

Coast Resorts' account users who are physically in Nevada will be able to place wagers online by accessing the Coast Resort's site, reviewing the menu of wagers, and entering their game selection and amount to be wagered. Using a "closed-loop" intranet, the system can effectively limit access to the Internet site by virtue of the user's geographic location.

"This agreement with Coast is ground-breaking in its scope, and it will be a landmark in the evolution of legalized online gaming," Virtgame.com Chairman Leo George said. "For the first time we are offering both state regulators and the gaming industry a viable solution for the online gaming boom, in a legal and controlled way."

Coast Resort CEO Michael Gaughan is equally enthusiastic. "Our new site will make it simple for our account holders to reviewthe betting menu in less time than it now takes to receive a 'rundown' of the available sporting events on the telephone," he said.

Meanwhile, the company also announced this week the purchase of PrimeLine Technologies, Inc., one of only two sportsbook management software providers approved by the Nevada Gaming Control Board, for $1.2 million with intentions of implementing PrimLine's wagering technology online in Nevada.

PrimeLine's Windows-based race and sports book software is currently being used for sportsbook wagering via kiosks in the Las Vegas Club casino. The system is capable of handling virtually all back- office sportsbook functions. Features include a "Ticket Station" that can both write and cash tickets, account set-up and general administration, event creation and monitoring, and reports to track all activities.

"We are creating a seamlessly integrated system for the management of both online and walk-up sports wagering, " Virtgame.com President and CEO Joseph Paravia said. "We believe this is the most advanced and complete software package available for sportsbook operators and casinos. In our opinion, this package will be extremely attractive to the gaming industry as it looks for new distribution channels and more efficient ways to serve its customers."

The system can be used both on an intranet and the Internet, according to Paravia.

Virtgame.com will release further details about the system soon.