Another Run at the Asian Market

4 March 1999
VentureTech Inc. and Asian Star Development Inc. are teaming to create a real-time wagering website that will target the Asian market, particularly Hong Kong and mainland China.

The two companies have reportedly signed a letter of intent to create a strategic partnership in which VentureTech will provide the necessary licensing, technical and operational requirements through its wholly owned subsidiary, EuroAsian E-Casinos Inc., to operate an online casino at

Asian Star will utilize its presence in Hong Kong, Asia, and mainland China to assist in the exposure and marketing of the website. VentureTech and Asian Star will then share in the net revenues of the operation under a specified revenue sharing formula. The initial location of the web site's servers are expected to be located and operated outside of Asia under license with an existing authorizing jurisdiction. The companies also plan to eventually develop additional interactive gambling web sites.

"We are gratified to be associated with one of the pioneering companies in the online gaming industry," Asian Star President Stephen Chow said. "Their overall knowledge, and experience in this field, as well as their leadership in the campaign to bring control and regulation to this infant industry, should greatly contribute to the overall success of this endeavor."

The Asian market is perceived as a potential gold mine by many in the online gaming industry. Companies such as Global Intertainment Corporation, which offers its software in Japanese and Chinese, and World Gaming Services, which operates a Japanese cyber casino, are already panning for nuggets.

Asian Star, a Nevada corporation with its principal offices in Hong Kong, is engaged in a number of business projects in China. The company's mission is to develop into a major Asian entertainment, sports and recreation and property development company, consisting of entertainment centers and hotels, sports and recreation clubs, amusement parks, resorts, real estate projects, infrastructure projects and a chain of convenience stores, some of which is completed or under construction.

VentureTech, an Idaho corporation with its principal offices in Vancouver, is a high technology investment and finance company dedicated to becoming one of the premier providers of gaming services for real money on the Internet and other computer networks.