Multimedia Games, Inc. (Nasdaq: MGAM), by popular demand, will soon be offering its interactive, high-stakes bingo games to off-shore bingo players through the Internet.
The company tested the idea by offering its satellite bingo game, MegaBingo, online in 1997 and the early part of 1998. They found that are many people on the internet who enjoy playing bingo, but prefer to play games for an extended period rather than only one game per day, which is the schedule for MegaBingo. The company's high speed games, such as MegaMania, FlashCash, were found to be more appealing to players because they're available 24 hours a day and they offer fast action and frequent prizes.
The off-shore participants will actually be using a proxy at the bingo hall to play bingo on their behalf through MGAM's proprietary electronic proxy player aid. MGAM was issued a patent for the electronic proxy player in November, 1998. The invention is an electronic agent, which allows the on-site proxy to play bingo on behalf of many off-site customers in accordance with the unique strategies of each of those customers. The company also intends to offer off-shore customers its racing product. Customers in the United States will not be allowed to participate in these high-stakes interactive games via the internet, however, the company is planning to
launch a free version of the internet games played for promotional merchandise prizes for domestic internet players. The company will derive revenue through a unique proprietary advertising concept that integrates banner advertisements as part of the game. The off-shore launch is scheduled for February, 1999.
Multimedia Games, Inc., through its wholly owned subsidiary MegaBingo, Inc., has contracts with over 50 Native American Indian nations to provide linked games that are integrated among multiple halls. The company is a leading provider of linked, high-stakes bingo games, electronic interactive bingo games, and associated data processing services and products to the Native American gaming industry.