NetBet, Inc. (OTC BB: NBET), a leading developer of online gaming operations, announced today that its board of directors has approved its name change to NetBet.com to reflect its growing position in the eCommerce arena.
Focus on eCommerce Arena Through Recent Events:
NetBet.com provides administrative, operational and financial support to Casinos of the South Pacific ("CSP"), a virtual casino, headquartered in the Cook Islands, which provides games of chance over the Internet. NetBet.com has structured a deal with CSP that gives NetBet 80 percent of the net profits.
Recently, the company has established a relationship with software developer, Adrenalin Interactive, Inc. and acquired a Costa Rican company, which will be opening and operating a casino in Central America. "Our primary objective is to broaden and diversify the company's market base in gaming activities through strategic acquisitions and agreements," said James Brewer, chief financial officer of NetBet.com.
"This name change should help drive traffic to our site, as the company's name is also the actual Web address," continued Brewer. "Just as Amazon.com (Nasdaq:AMZN) occupied the book space; eBay (Nasdaq:EBAY) developed the auction area; and Yahoo! (Nasdaq:YHOO) dominated the search engine area, we feel we are capable of becoming the most recognized online gaming company in the world, and the name NetBet.com better reflects this goal."
Some statements in this release are forward-looking and are subject to certain risks and uncertainties. These risks and uncertainties include but are not limited to economic conditions, changes in laws or regulations, demand for products and services of the company and the effects of competition. These risks and uncertainties could significantly affect anticipated results in the future and actual results may differ materially from any forward-looking statements.
NetBet.com's scope of operation includes the design, development and promotion of interactive, software-based games of chance. Utilizing the Internet as a medium for presentation, the company intends to service and support an online worldwide casino marketplace 24 hours a day, 365 days a year.