Cybergames Acquires 'Super 6' Lotto & Bingo

10 June 1998

BOCA RATON, Fla. -- Cybergames Inc. (OTC BB: CYGA) has signed an agreement with WorldNet Gaming Inc. for the rights to its "Super 6" progressive lotto and voice streamed bingo games through its management agreement with several Costa Rican associates.

Under the terms of the agreement, WorldNet, a major Internet games developer, received $100,000 in cash and 500,000 shares of CYGA's restricted common stock, valued at $2,000,000. It will assume responsibility for the credit facility processing through their association with two offshore banking institutions, as well as all marketing through its multi-million person customer base.

Super 6 lotto has the potential of $100,000-plus jackpots winnable every several days through a progressive type of play of 100 players for each jackpot game.

"Through WorldNet's extensive hardware/software system, we can offer players as many multiples of the games as demand dictates," said Jeffery Moritz, vice president and director of operations. "The worldwide potential play for this fast action multi-player game is enormous, with 91 percent player payout, five percent added to the jackpot and four percent to the operators from each play. Profits after all payments could reach $300,000 to $500,000 a month, based on comparable results from U.S.-based Indian reservation play. This, in addition to bingo play and the company's upcoming Internet casino operations bodes well for the company's future earnings potential."

Cybergames owns and operates three hotel-based casinos in Costa Rica.