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Vancouver, British Columbia
Starnet Communications International, a subsidiary of World Gaming
plc (OTCBB: WGMGY), has reached a settlement with Canadian
authorities whereby the subsidiary plead guilty to a single charge,
a violation of Section 202 (1) b of the Canadian criminal code,
bringing the three-year old RCMP investigation into the historical
operations of the company, for the period ending in August 1999, to
a close.
"This conclusion allows us to shed the past and move forward toward
the kind of exceptional growth and success this company is capable
of achieving," said Michael Aymong, CEO of World Gaming. "This is
a watershed event for the company -- a major milestone -- and
putting an end to this matter is very positive for our
shareholders. World Gaming is operating under an entirely new
management team, business direction and operational structure. As
we go forward, we do so with a strong commitment to compliance and
a constructive relationship with governments here in Canada."
The action included a fine of $100,000 CDN and a $15,000 CDN victim
surcharge. As well, the company has consented to a forfeiture of
$3,925,000 US. Authorities have approximately $7.6 million US of
the company's funds currently under restraint. As a result of
Friday's decision, approximately $3.6 million US will be returned
to the company.
About World Gaming plc
World Gaming plc is a pioneer and leader in I-gaming software and
e-commerce technologies. World Gaming is an international
developer, licensor and provider of the industry's most
comprehensive offering of online gaming products, including casino,
sports book and pari-mutuel betting. For more information about
World Gaming, visit the company's Web site at www.worldgaming.com
- 30 -
Media Relations: Investor Relations:
Heather Grant Réjane Wilson
Goodman Communications Inc. The Barnes Organization
416-924-9100, ext. 233 416-367-5000
[email protected] [email protected]
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein which are not
historical fact are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays in testing,
evaluation and deployment of products, fraud occasioned upon
licensees of World Gaming, regulation of the online gaming
industry, and other risks detailed from time to time in World
Gaming's filings with the Securities & Exchange Commission. We
assume no responsibility for the accuracy and completeness of these
statements and are under no duty to update any of the
forward-looking statements contained herein to conform these
statements to actual results. This is not an offer to sell or a
solicitation of an offer to purchase any securities.
Starnet Communications International, a subsidiary of World Gaming
plc (OTCBB: WGMGY), has reached a settlement with Canadian
authorities whereby the subsidiary plead guilty to a single charge,
a violation of Section 202 (1) b of the Canadian criminal code,
bringing the three-year old RCMP investigation into the historical
operations of the company, for the period ending in August 1999, to
a close.
"This conclusion allows us to shed the past and move forward toward
the kind of exceptional growth and success this company is capable
of achieving," said Michael Aymong, CEO of World Gaming. "This is
a watershed event for the company -- a major milestone -- and
putting an end to this matter is very positive for our
shareholders. World Gaming is operating under an entirely new
management team, business direction and operational structure. As
we go forward, we do so with a strong commitment to compliance and
a constructive relationship with governments here in Canada."
The action included a fine of $100,000 CDN and a $15,000 CDN victim
surcharge. As well, the company has consented to a forfeiture of
$3,925,000 US. Authorities have approximately $7.6 million US of
the company's funds currently under restraint. As a result of
Friday's decision, approximately $3.6 million US will be returned
to the company.
About World Gaming plc
World Gaming plc is a pioneer and leader in I-gaming software and
e-commerce technologies. World Gaming is an international
developer, licensor and provider of the industry's most
comprehensive offering of online gaming products, including casino,
sports book and pari-mutuel betting. For more information about
World Gaming, visit the company's Web site at www.worldgaming.com
- 30 -
Media Relations: Investor Relations:
Heather Grant Réjane Wilson
Goodman Communications Inc. The Barnes Organization
416-924-9100, ext. 233 416-367-5000
[email protected] [email protected]
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein which are not
historical fact are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements,
including, but not limited to, certain delays in testing,
evaluation and deployment of products, fraud occasioned upon
licensees of World Gaming, regulation of the online gaming
industry, and other risks detailed from time to time in World
Gaming's filings with the Securities & Exchange Commission. We
assume no responsibility for the accuracy and completeness of these
statements and are under no duty to update any of the
forward-looking statements contained herein to conform these
statements to actual results. This is not an offer to sell or a
solicitation of an offer to purchase any securities.
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