Gaming Strategy
Featured Stories
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Search Our Archive of Gaming Articles 

AGC Signs Sportsbook Agreement With Vietnam Lotteries

11 May 2000

CALGARY, Alberta, Canada--(Press Release)--May 11, 2000--Applied Gaming Solutions of Canada Inc. (AGC) announced today that it has signed a second exclusive supplier agreement with the representative government authority for the twenty southern lottery companies of Vietnam.

In the agreement with the Song Be Lottery Company (SBLC), AGC will supply all of the necessary hardware and software, training, and all other products and services required to enable SBLC to operate a sportsbook over the internet. This service would allow the SLBC to accept wagers from international bettors on a vast array of sporting events including but not limited to, soccer, horse racing, football, tennis and motor racing.

The SBLC is one of the five permanent members of the southern region lottery counsel. This counsel consists of all twenty lottery companies of southern Vietnam including Ho Chi Minh City (formerly Saigon). For the services provided, AGC will receive a technical consulting fee for the duration of the ten- year contract period, as well as a five-year renewal option. The technical consulting fee that AGC will receive is subject to final negotiations with the SBLC.

``We are very excited to expand the services we offer to the Vietnamese Lottery Authority and, to provide a complete solution for one of the world's first 100% government owned and operated internet sportsbooks,'' said Jib Phelan, Vice President of Lotteries.

There is nearly 1.5 billion consumers and 38 million Internet users in Asia today, according to the Boston-based consulting firm The Yankee Group. Internet usage is expected to nearly double annually over the next five years to a minimum of 375 million Internet users by the end of the year 2005.

Applied Gaming Solutions of Canada Inc. is a global leader in the outsource management of online lotteries, e-gaming solutions and related professional services for delivery to a growing audience of international governments. Today, AGC leads technical and marketing support activities for the on-line lottery system run by the Construction Lottery of the Capital-Hanoi in Vietnam, delivered in conjunction with its' suppliers AWI, a division of Anchor Gaming (NASDAQ:SLOT - news), IBM (NYSE:IBM - news) and Motorola (NYSE:MOT - news).

This release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which could cause actual results, performance or achievements of the Company, or industry results to differ materially from those reflected in the forward-looking statements. Forward-looking statements are based on the current expectations, projections and opinions of the Company's management, and the Company undertakes no obligation to publicly release the results of any revisions to such forward-looking statements which may be made, for example to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

< Gaming News