VANCOUVER, British Columbia, May 3, 2006 (PRIMEZONE) -- MangaPets Inc. (OTCBB:MPTS) (the "Company") today announced that Paul Weinstock, Brian Woods and Joseph LaCascia have been appointed to the Company's board of directors to assist with the acquisition of internet casino, sportbook and on-line poker properties.
Paul Weinstock:
Mr. Weinstock has accumulated over 10 years of experience in the online gaming industry. In 1995 Mr. Weinstock envisioned the need for a turn key solution for the operators of the gaming industry. In 1996 his company was one of the first company's to be issued an Internet gaming license by the government of the Dominican Republic. The company was one of the premier hosting and licensing facility for the gaming industry. Mr. Weinstock was involved in the company's day to day operations until 2000.
In 2000 online gaming was beginning its initial growth as an acceptable industry. One of the major hurdles online gaming operators encountered was how to accept payments for the actual wagers. Mr. Weinstock recognized an opportunity to be able to provide the online operators with a solution of being able to accept major credit cards from multiple banks. Mr. Weinstock and his team created innovated state of the art proprietary software that allowed the online operator to accept all major credit cards with an instant approval or denial, integrated fraud controls to avoid credit card fraud, integrated back end accounting and a user friendly integration which adapted to any online gaming software provider.
Mr. Weinstock is known for his extensive experience and knowledge in the gaming industry. He is a Principal of Weinstock, Ackers & Johns P.A. based in London England, a leading provider of consultancy services to the online gaming industry.
Brian Woods:
Mr. Woods is one of the founding partners of the first Internet casino ever to process transactions online. It was the first online casino to achieve over 1 billion dollars in annual turn over. The online casino is still in business today and is one of the most well known and successful sites on the Internet.
As the technological leader of the organization, Mr. Woods pioneered numerous technologies that have since become standard in the gaming industry including multi processor support, advanced accounting methodologies, and innovative customer relationship management systems. In 2001, Mr. Woods sold his interest in that company in order to establish a new online casino company, fueled by a vision of an integrated gaming company with greater scope and flexibility. The company operates three highly successful online casinos and is growing at a rapid rate. Mr. Woods is considered an expert in the online gaming industry and is well respected by his colleagues.
Mr. Woods has continued to innovate in the field of online transaction processing, customer relationship management and gaming. In 2003, he established Instadebit; a new model of online processing solution which has set the standards that has been emulated by giants in the industry. The company has grown to become a strong influence in the online gaming market place during the year 2004, and continues to flourish in 2005. Mr. Woods has divested his majority shareholding position in the company, but continues to play a key advisory role.
In November of 2003, Mr. Woods moved to expand his gaming expertise in the land-based casino sector. Over an 18-month period, he took over the management of Banco Casino, in Prague, Czech Republic, and from operating cash-flows, was able to triple average monthly drop and move the operation into a profitable position. Banco Casino is one of the most profitable and well managed casinos in Prague.
Mr. Woods studied computer sciences math at Queen's University and has spearheaded numerous other successful technology ventures in the past 20 years in the fields of Internet Technology, Data Mining for the Resource Industry and Online Customer Relationship Management and Marketing.
Joseph LaCascia
Graduated with an A.L.B. (Bachelor of Arts), Social Sciences, Concentration: Economics from Harvard University, Cambridge, Massachusetts.
Mr. LaCascia is currently the CEO of Futurebet Gaming Systems, Nevis, West Indies ("Futurebet"), a web based software development firm specializing in online and land based gaming software applications. He has led acquisition and debt restructuring efforts to position this company for exponential growth. He increased the base of operating partners through strategic sales initiatives from 40 to 100+ within the first 12 months of tenure. While CEO, Futurebet revenue has increased by 600% and experienced extreme growth, increasing the organization from 11 to 80+ associates.
From 1992 to 1997 Mr. LaCascia was the senior vice president of First USA Partners ("FUSA") a privately held firm that acted as the exclusive partnership marketing development arm of First USA Bank. He was a founding member of this affinity credit card marketing firm, taking annual sales from zero to $20 Million+ within the first five years of operation further positioning the company for its eventual sale to Bank One Financial Corp.
Mr. LaCascia developed, implemented and established FUSA's operational processes while overseeing day to day business functions including sales, marketing, human resources, finance, accounting, MIS and general administration. In addition he established the company's proprietary operating system, identified new markets, targeted new prospects leading First USA's partnership marketing efforts into several new industry segments
He also orchestrated sales and brand marketing strategies resulting in the development of more than 650 endorsed MasterCard and Visa programs, alliances translating into more than 5 Million new credit card accounts and $8 Billion+ in Outstandings for First USA. Programs initiated include:
-- New York Life -- Countrywide Mortgage -- America Online -- United States Tennis Assn. -- Yale University Alumni Assn. -- National Audubon Society -- American Kennel Club -- PGA Tour Partners
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this press release, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward looking statements. Although MangaPets believes that the expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. MangaPets encourages the public to read the information provided here in conjunction with its most recent filings on Form 10-KSB, Form 10-QSB and Form 8-K. MangaPet's public filings may be viewed at www.sec.gov.