View Full Version : Can anyone guess which gaming site this is that is going to get acq?

12-06-2005, 10:09 AM
LAS VEGAS, Dec. 6 /PRNewswire-FirstCall/ -- Fortuna Gaming Corp.,
(FGAM- OTC Bulletin Board: FGAM.OB), (the "Company") is pleased to announce
that it has entered into a Letter of Intent to acquire 100% of the shares and
operations of an established on-line gaming company (the "Seller"). For
competitive reasons, the name of the Seller has been kept confidential until
such time as the deal closes, anticipated to occur on or before March 31,
"This acquisition is a key component of the Company's growth plans as it
brings an international player base of approximately 650,000 and a team of
programmers and customer support personnel to the Company," says Doug Waugh,
President of Fortuna Gaming Corp. "Rather than growing the business
organically, we can now offer our mobile and wireless products and technology
to an established player base using the Seller's on-line casino products and
The acquisition includes the following:

-- Proprietary on-line gaming software for 80+ interactive casino games
written in 15 languages and linked to an integrated e-cash processing
capability in 4 currencies
-- An international player database of 650,000 registered players and an
active base of 65,000
-- An annual revenue base of approximately $24 million
-- Exclusive rights to 150 domain names
-- A network of 35,000 registered Affiliates and an active base of 1,500
-- Back-end customer service and management systems such as Multi-level
commission programs, operational web sites, a player tracking and bonus
system, merchant processing back-end systems, marketing support
programs, 24/7 customer support system for players and affiliates, and
back-end accounting systems
-- A live chat network
-- A team of 64 programmers, designers and customer support personnel
Our due diligence team has commenced its examination and over the next
45 days, the Company will proceed to obtain the necessary regulatory
approvals, arrange for the funding of the Purchase Price, and prepare the
Definitive Purchase Agreement outlining the terms and conditions customary for
transactions of this nature.
About Fortuna Gaming Corp.
Fortuna Gaming Corp (the "Company"), through its subsidiary Fortuna Gaming
(UK) Limited, ("Fortuna") headquartered in London, England, is in the online
gaming business and plans to become a leading mobile and online provider for
the Internet gaming entertainment industry. Fortuna's acquisition strategy is
to acquire complementary medium sized internet gaming companies operating in
legal jurisdictions which will provide a rich entertainment experience for
customers while adding shareholder value.
Legal Notice Regarding Forward Looking Statements
The statements in the press release that relate to the company's
expectations with regard to the future impact on the company's results from
acquisitions or actions in development are forward-looking statements, within
the meaning of the Private Securities Litigation Reform Act of 1995. The
statements in this document may also contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Since this information may contain
statements that involve risk and uncertainties and are subject to change at
any time, the company's actual results may differ materially from expected
SOURCE Fortuna Gaming Corp.

Contact Information:
Investor Relations of Fortuna Gaming Corp., 866-324-5788, or investorrelations@fortunagamingcorp.com