CINCINNATI, Feb. 28, 2005 (PRIMEZONE) -- In a release sent earlier under the same headline, please note lottery ticket sales were actually $54 billion not $54 million. The full corrected release follows:
Games, Inc. (OTCBB:GMSI) announced today the promotion of Tristan Smith to the position of Chief Technical Officer. Mr. Smith has been with the company for 4 years and has most recently served as the company's Technical Director. Mr. Smith has numerous certifications in hardware and software from diverse companies such as Lexmark, HP, Microsoft, and CompTIA.
"Tristan Smith has led our programming team for the past two years and as the Company expands its interests in the casual games and lottery businesses, his expertise and experience will be particularly valuable in his new position," said Roger W. Ach, Games, Inc. President.
Mr. Smith has been instrumental in the development work of the Company's Lottery On Line(SM) product line, which would enable state and governmental lotteries to facilitate the secure sale of lottery tickets in both an Internet and Wireless environment.
Bills have recently been introduced in both the Georgia and Illinois Legislatures, permitting the sale of Lottery tickets Online in those states; and there has been interest in other states in enabling the On-Line sale of these tickets to boost local revenues and hold back tax increases. Lottery ticket sales in North America last year were over $54 billion, paying the ticket seller an average 6% commission.
Cincinnati, Ohio-based, Games, Inc. operates in the area of interactive entertainment primarily focused on Government Sponsored Lotteries and Internet Games. The Company's principal business owns and operates a portfolio of online portals focused on the delivery of interactive consumers. The Company features two community-focused online game sites as well as proprietary games for purchase-and-download, conventional online play, peer-to-peer and tournament game play. Games, Inc. also features a digital greetings site and a site and proprietary back-end system for the online facilitation and reporting of state and provincially sponsored Lotteries. Revenues are largely driven by lottery information services, online advertising and subscriptions; however proprietary content delivery and decremented payment systems will enable software licensing to become a component of the revenue mix alongside merchandise and lottery-driven commissions.
For more information, please visit the Company's corporate website, www.gamesinc.net, or their portfolio sites, www.games.org, www.gameland.com, www.skillmoney.com, www.lottery.com and www.cards.com or contact Sue Craner at investorrelations@gamesinc.net.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Games) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Games. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors. We undertake no obligation to update information in this release.