A Profile of 649.com

31 August 1999
A publicly traded Texas company called 649.com is setting its sites on charging onto the Internet gambling stage with a new version of a traditional lottery game.

With operations based in Costa Rica, the company's site (www.649.com) will offer an instant 6/49 lottery that will reward winners with a $5 million jackpot. Once the jackpot is won, it will automatically be reset at $5 million. The site will undergo beta testing in coming weeks.

The company, which trades under the symbol "ABET," announced this week that it has begun marketing the site aggressively on the Internet. It will also attempt growth by licensing its software (designed by Mindquake Software, Inc.) and by acquiring new online gambling technology.

"It is our view at 649.com, that the Internet is radically changing traditional gaming, "President Lawrence P. Burbridge said. "We can and will continue to acquire products that are very entertaining."

More lottery games and a free play area will also be launched in coming months.