Update on 777 Sports Entertainment Corp.
2006-05-26 15:49 ET - News Release
LAS VEGAS -- (Business Wire) -- May 26, 2006
James PH Cheung, President/CEO of 777 Sports
Entertainment Corp. (Pink Sheets: SVNP), is pleased to announce that
progress is being made on expansion of the 777Betz.com gaming platform
for the year 2006. Up to the present time, we are very satisfied with
the operations of 777betz.com's Sports Book, Poker, Casino and Horse
racing platforms.
Negotiations are underway for a significant financing. With up to
$3,000,000 expected to complete within the next 30 to 60 days, this
funding will allow for expansion and the establishment of a dedicated
back office with a development team for 777Betz.com, providing greater
flexibility to upgrade existing platforms and the introduction of new
games and sports platforms for 2006/7.
Management is currently working on programs for 2006/7, with
Mahjong, mobile gambling, bingo and other games to be introduced upon
completion of our own state-of-the-art game platform.
The funding will also allow us to look to the acquisition of other
profitable operations with a need to consolidate and reduce back
office expenses. This is all part of our program to increase revenue
at the same time as we reduce costs.
Further reports will be released as progress is made.
On Behalf of the Board of Directors
Signed "James PH Cheung"
James PH Cheung
President/CEO
Live for Today - Learn for Tomorrow
