A Profile of Chartwell Technology Inc.

13 April 1999
Chartwell Technology Inc., an Internet based e-commerce, software technology and service company specializing in online gaming software and video conferencing, has big in plans in story for 1999.

The company has licensed its "CasinoCasino" gaming software (through its wholly owned subsidiary, Gateway Technology Inc.) to five operators and has announced that several other deals are being negotiated. The customized, full service package includes twelve casino games, a backend administrative utility with remote access, I.P. tracking, e-commerce software and technical support. The licensees' customers can place wagers via a secure online financial transaction system that is customized for the licensee anywhere in the world they choose.

Of the five licensees, www.casinogrande.com, www-777casino.net and www.truebet.com are up and running. In the near future, www.oldvegas.com and www.instacash.com will be taking bets as well.

Chartwell intends to aggressively market its turnkey Internet gaming technology worldwide and maintains a goal of having 24 licensees' under contract by the end of the year. As part of the licensing agreement, the company receives an initial licensing fee together with a percentage of its licensees' revenues, which should considerably impact the revenues of Chartwell.

Proceeds from Chartwell's recently announced $1 million proposed private placement will be used to formally launch the turnkey Internet gaming solution and to develop new revenue sources based on its proprietary technology.