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Viva Gaming Acquires Majority Ownership in Mexican Gaming Company22 August 2000LAS VEGAS, Nevada--(Press Release)--Aug. 22, 2000--Viva Gaming & Resorts (OTC BB:VIGA) announces the acquisition of 3,215,000 shares of Viva Gaming & Resort de Mexico, S.A. de C.V. (``Viva Mexico''), representing a 64.3 percent equity ownership interest in the Mexican company. Viva Mexico is a variable capital corporation, duly incorporated pursuant to the laws of the Republic of Mexico, with its registered and records office located in Mexico City. Viva Mexico, through a trust agreement permitted by Mexican law, has recently been granted a license from the Loteria Nacional Para La Asistencia (National Lottery for Public Assistance) to sell, market and distribute the government's instant lottery tickets throughout the Republic of Mexico. The company plans to maximize commercial distribution of Mexico's instant lottery tickets through the operation of slot machines in large-scale adult entertainment centers which will be located in large metropolitan areas. Adult entertainment centers is the term used by the Mexican government to describe legalized gaming establishments. The slot machines are designed to dispense prizes in the form of tickets, which the customer will exchange for Loteria Nacional instant lottery tickets. The company believes that the impact of this new and creative distribution system on annual ticket sales will be dramatic. Details of these proposed government approved adult entertainment centers will be made public in due course. |