LAS VEGAS -- GIC Global Intertainment Corporation (OTC BB: GGNC) has completed a purchase agreement with Netbetz Inc., a licensed Internet sportsbook and casino located in Roseau, in the commonwealth of Dominica.
The Agreement calls for GIC to acquire all assets (including all operations and client base) and assume certain liabilities of Netbetz Inc., in exchange for certain cash consideration. The transaction has no dilution to the company's share structure.
GIC has renamed the site "Cyberbetz," and has contracted Stratford Internet Technologies, an award winning Internet site design company, to restructure and redesign it. Cyberbetz is expected to be up and fully operational within 30 days at www.cyberbetz.com and will be taking live
bets over the Internet and by phone in Dominica at 1-888-268-1888. The new site will also be translated into Chinese to target the gambling customers in Asia.
GIC intends to use the site to establish the first global horse racing channel on the Internet where people can choose to view any one of the world's top ten horse race events in real time. Customers will have the ability to access important background video training information on both the jockeys and the horses before placing their bets.
This live feed Internet technology will allow bets to be placed anytime, anywhere, in the world, including airlines, hotel rooms, cruise ships, and house-hold residents. The global horse racing channel will operate in a similar fashion to a cable network channel or pay-per-view channel, but it will be interactive and live.
Using this real time technology, GIC will introduce an interactive multi-player gaming service and multimedia virtual casino designed to simulate a true casino, horse race and sports betting service with 3D motion and sound.
Global Intertainment Corporation. is a high technology investment and finance company that searches for proven state of the art technologies that are directly linked to the Internet, specifically in the area of Internet gaming. The Company will move towards market dominance by way of mergers and acquisitions of companies that are already positioned in the market place.