ALTAMONTE SPRINGS, Fla., Oct. 24, 2003 (PRIMEZONE) -- The WGL, Inc. (OTCBB:WGFL) announced today that it would begin marketing its Play-for-Pay concept in Australia and New Zealand in 2004. The WGL plans to enter a strategic partnership agreement with a New Zealand based sports marketing company with a strong and proven marketing presence in both the New Zealand and Australian golf markets. The details of this partnership are under negotiation, and will be completed by the end of November.
Golf is extremely popular in Oceania, and the WGL expects to see strong demand for their Play-for-Pay concept. The Oceania market currently represents roughly 2.3 million golfers. The WGL anticipates penetrating 1/2 of 1% of this market in its first full year of marketing, representing a potential $3.45 million in future revenue. With the addition of an established New Zealand representative, the WGL would expect to penetrate 2% of the Oceania golfing market by 2007.
"We are extremely excited to be entering the Australian and New Zealand markets, where the game of golf is immensely popular," said Mike Pagnano, CEO of The WGL. "I am very proud to announce that upon the finalization of this agreement, the WGL, with the addition of the Australian and New Zealand golfing markets will come one step closer to reaching one of our initial strategic business goals -- having the Play-for-Pay concept available on every continent, and truly becoming a world golf brand."
The WGL operates in the $25 billion a year world golf market, and markets a professional golf concept in the USA and 27 international venues, which allow average golfers to play for substantial prize money in local and regional tournaments culminating with a PGA-style national event and world championship.
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