MINNEAPOLIS -- Global Games Corp. (OTC BB:GLOW) has received a signed letter of acceptance from the Commonwealth of Dominica, West Indies, to design and build a full virtual casino to be owned by the government of Dominica.
Global Games was first contacted by Julius C. Timothy, Minister of Finance, Industry and Planning for the Commonwealth of Dominica, about building a virtual world casino in Dominica. The company subsequently sent a formal proposal to Timothy to build the "Virtual World Casino and Sports Book of Dominica, West Indies."
The Virtual World Casino will include casino games as well as a full betting sportsbook, which needs to be open by the first of August to coincide with the opening week of the NFL season.
"The Commonwealth of Dominica is the first country to request our software and services," said Gary L. Borglund, president and CEO of Global Games Corp. "We are working briskly to meet the opening day deadline. A final agreement is being drafted and is expected to be signed within one week.
"Internet Gaming Corporation (IGC), a private company with whom Global Games already has a licensing agreement in place in Dominica, will participate in this government project and will provide tech support for the Virtual World Casino and Sports Book. IGC will receive a portion of our licensing service fees for their tech support services. The Commonwealth of Dominica and IGC will operate independent sites, but will work cooperatively to the mutual benefit of all parties.
"Net profits to Global Games from licensing fees for these two sites combined are projected to be substantial. These projections do not reflect additional positive earnings expected to be received from the Burnt Church project or other current global projects."
Global Games Corp. is an Internet-based commercial service business providing secure automated transaction processing for merchants and Internet customers. It also licenses software for Internet gaming. Additionally, the company provides management and consulting services. Its core marketing strategy is to develop recurring electronic revenue streams based on targeted niche markets where the its expertise can be leveraged.