Tweet
NORWALK, Conn. (BUSINESS WIRE) - eLOT, Inc. (NASDAQ:ELOTC), a provider of web-based retailing and marketing services to governmental lotteries, today announced that the company's chief executive officer, Ed McGuinn, will be testifying before a hearing of a Subcommittee of the House Committee on Financial Services on Tuesday, July 24, 2001 at 10:00 am regarding H.R. 556, The Unlawful Internet Gambling Funding Prohibition Act, and other related Internet gaming proposals.
In his testimony Mr. McGuinn will provide extensive information to the Committee regarding how a state lottery ticket can be safely and securely distributed over the Internet and how the use of the latest technology can facilitate these transactions while providing strict age, border control and problem gaming restrictions.
Live audio of the hearing will be available at: http://www.house.gov/financialservices/audio.htm
About eLOT, Inc.
eLOT, Inc. is committed to leading the governmental lottery industry into the e-commerce market. The Company's subsidiary, eLottery, Inc., is a leading web-based retailer of governmental lottery tickets and has developed, installed and operated systems that have processed e-commerce lottery ticket sales and transactions. It has operated Internet, Intranet, telephone, communications, accounting, banking, database and other applications and services that can facilitate the electronic sale of new and existing lottery products worldwide. eLottery is also an application service provider of Internet marketing and advertising technology for lotteries. The Company's IMARCS (Internet Marketing Analysis Research and Communications System) database marketing solution enables government lotteries to attract, register and communicate with lottery players through advanced Internet technology.
eLOT recently agreed to acquire the www.FreeWorldLotto.com website and related business from PlasmaNet, the owner of FreeLotto, the #1 Internet Game Site and #3 On-line entertainment destination. PlasmaNet has awarded nearly $30 million in prizes to its over 20 million users, including one $10 million dollar prize and nine prizes of $1 million dollars each. eLOT also owns DM360 (formerly Network60), an Internet promotions and permission-based direct marketing company, which offers a flexible, cost effective direct marketing medium to traditional corporations, advertising agencies, and online companies. DM360's web sites www.EasyWinning.com, www.CoolWinning.com and www.RadioStakes.com are client-sponsored sweepstakes sites that function as lead generation vehicles. www.PrizeChest.com is a prize fulfillment site. The Company also maintains a reward-entertainment web site located at www.eLotteryFreeWay.com. and offers a free daily lottery email notification service (LENS) of state lottery results and other information and services at www.eLottoNet.com. eLottery's corporate web site is located at www.eLottery.com.
This news release contains forward-looking statements. Such statements are subject to certain factors, which may cause eLOT's plans to differ or results to vary from those expected including the risks associated with the development of new products and the uncertainty of product acceptance, the competitive nature of the Company's industry, rapid technological change, legal uncertainties, the Company's dependence on key personnel, and a variety of risks set forth from time to time in Company filings with the Securities and Exchange Commission
In his testimony Mr. McGuinn will provide extensive information to the Committee regarding how a state lottery ticket can be safely and securely distributed over the Internet and how the use of the latest technology can facilitate these transactions while providing strict age, border control and problem gaming restrictions.
Live audio of the hearing will be available at: http://www.house.gov/financialservices/audio.htm
About eLOT, Inc.
eLOT, Inc. is committed to leading the governmental lottery industry into the e-commerce market. The Company's subsidiary, eLottery, Inc., is a leading web-based retailer of governmental lottery tickets and has developed, installed and operated systems that have processed e-commerce lottery ticket sales and transactions. It has operated Internet, Intranet, telephone, communications, accounting, banking, database and other applications and services that can facilitate the electronic sale of new and existing lottery products worldwide. eLottery is also an application service provider of Internet marketing and advertising technology for lotteries. The Company's IMARCS (Internet Marketing Analysis Research and Communications System) database marketing solution enables government lotteries to attract, register and communicate with lottery players through advanced Internet technology.
eLOT recently agreed to acquire the www.FreeWorldLotto.com website and related business from PlasmaNet, the owner of FreeLotto, the #1 Internet Game Site and #3 On-line entertainment destination. PlasmaNet has awarded nearly $30 million in prizes to its over 20 million users, including one $10 million dollar prize and nine prizes of $1 million dollars each. eLOT also owns DM360 (formerly Network60), an Internet promotions and permission-based direct marketing company, which offers a flexible, cost effective direct marketing medium to traditional corporations, advertising agencies, and online companies. DM360's web sites www.EasyWinning.com, www.CoolWinning.com and www.RadioStakes.com are client-sponsored sweepstakes sites that function as lead generation vehicles. www.PrizeChest.com is a prize fulfillment site. The Company also maintains a reward-entertainment web site located at www.eLotteryFreeWay.com. and offers a free daily lottery email notification service (LENS) of state lottery results and other information and services at www.eLottoNet.com. eLottery's corporate web site is located at www.eLottery.com.
This news release contains forward-looking statements. Such statements are subject to certain factors, which may cause eLOT's plans to differ or results to vary from those expected including the risks associated with the development of new products and the uncertainty of product acceptance, the competitive nature of the Company's industry, rapid technological change, legal uncertainties, the Company's dependence on key personnel, and a variety of risks set forth from time to time in Company filings with the Securities and Exchange Commission