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NorAm Gaming & Entertainment To Install Slots in El Salvador Int'l Airport3 October 2000MIAMI, Florida --(Press Release)--Oct. 3, 2000--NorAm Gaming and Entertainment Co. (OTCBB:NORE), CEO, Julius C. Csurgo, announced today the completion of the Agreement between NorAm Gaming and Entertainment, Co., and Game Touch Technologies, Inc., for the installation of 200 slot machines in the El Salvador International Airport; Central America's most modern and most active airport. The term of the Agreement is for 25 years. NorAm expects the machines to be fully operational by November 15, 2000, and projects net revenues from this Agreement to be in excess of $50,000.00/month USD. Mr. Csurgo stated, ``the completion of this Agreement initiates the first of many deals the Company is considering and puts NorAm on track to begin achieving substantial cash flows.'' Mr. Csurgo also announced the completion of a Private Placement for $400,000 USD, which will be allocated for the purchase of the 200 machines for the El Salvador Agreement. Details of the Private Placement were not announced. NorAm Gaming is involved in Gaming Facilities, Internet Gaming Applications and Real Estate Development primarily in the Central and South American Markets. |