DOUBLE EAGLE ENTERTAINMENT CORP. ANNOUNCES JOINT VENTURE WITH MAJOR LOTTERY CORPORATION.VANCOUVER, B.C.--(BUSINESS WIRE)--Double Eagle Entertainment Corp. (DBE DBE abbr. Dame Commander of the British Empire DBE Dame (Commander of the Order) of the British Empire ) (VSE See DOS/VSE. VSE - Virtual Storage Extended : DBE, OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: DEECF) and Mr. Louis Dion (President) are pleased to announce the signing of a joint venture and a licensing/management agreement with SAZKA Lottery Corporation of the Czech Republic. The joint venture remains subject to negotiation of the terms of a definitive agreement. The joint venture will expand Double Eagle's Distribution network for the "TV/Bingo Lottery" that is currently distributed in the Czech Republic. Additionally, the two parties will endeavour to develop and market new lottery games in the Czech Republic. Double Eagle is currently at work on the development of "Power Bingo", for global application. SAZKA Lottery Corporation is one of Europe's most successful Lottery Corporations with revenue in 1994 exceeding $241 million (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ). Since 1964, SAZKA has been a member of the International Toto and Lotto Association (INTERTOTO). INTERTOTO has 69 members from 44 countries worldwide. In 1991, SAZKA became a member of the Association of European State Lotteries (AELLE). AELLE has 44 members from 36 European countries. In 1994, SAZKA applied for membership in the International Association of State Lotteries (AILE AILE Association Internationale des Loteries d'État (International Association of State Lotteries) ). Information received regularly through the INTERTOTO and AELLE databases enables SAZKA to follow world trends and the development of the lottery industry. The British Columbia Lottery Corporation The British Columbia Lottery Corporation ('BCLC') is a Crown Corporation of the Province of British Columbia, Canada. It has provided government sanctioned lottery services to those in British Columbia since 1985. is also a member of INTERTOTO and AILE. SAZKA sells lottery tickets through 5100 outlets in the Czech Republic, it is Double Eagle's objective through this association with SAZKA to boost weekly ticket revenues associated with the "TV Bingo/Lottery" game by 40 per cent. "Double Eagle is pleased to be associated with SAZKA, one of Europe's leading Lottery Corporations, and we feel that this joint venture will provide our company the opportunity for rapid expansion in Europe" said Double Eagle President, Mr. Louis Dion. "With the vast experience and top-notch personnel that SAZKA can provide, and the expertise and technology of Double Eagle, this is truly a giant step towards our goal of becoming one of Europe's leading "TV Bingo/Lottery" game suppliers and managers." Negotiations previously announced with a major media partner to undertake the development of "TV Bingo/Lottery" opportunities in Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. are ongoing. Double Eagle Entertainment Corp. is a multi-national gaming company listed on the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). that currently manages, operates and produces in conjunction with Dion Entertainment Corp. (DIO.T) their highly successful, nationally televised "TV Bingo/Lottery in the Czech Republic. -0- The Vancouver Stock Exchange has neither approved nor disapproved the information contained herein. CONTACT: Double Eagle Entertainment Corp. Lindsay MacLeod, Investor Relations, 604/535-7333 |
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