ST.AUGUSTINE, Fla. -- Winners Internet Network Inc. (OTC Bulletin Board: WINR) has closed the financing needed to complete the commencement of World-Wide Internet Gaming Payout Structure. The financing was completed by EPA Continental Holdings.
Now that funding is complete, the company plans to be fully operational to provide their worldwide Internet Gaming Payout System within 45-60 days. This capital will further enhance the corporation's marketing efforts to sell licenses worldwide.
WINR has developed a software system that provides a secure and reliable payout structure for worldwide Internet casinos and sportsbooks. It signed a contract on November 24, 1997 to provide the structure to
Telecommunication Information System Services, N.V. (TISS), which has provided sublicensing to approximately 30 sports wagering and casino sites. The growth posture of TISS is expected to provide for 40 Internet casino sites, 30 internet Sports Wagering sites and 20 "800" number sports betting sites. WINR considers TISS to be the only fully operational licensee of the four exclusive licenses given by the Netherland Antilles government, and values the agreement over the next 12 months at 10 to 15 million dollars.
"The existing sites suffer from credibility problems," Winners President David Skinner said. "There is no uniform payout structure that gives the players confidence that their legal winnings will be paid. We feel that our software program will be the standard in the Industry."