December 18, 2007 - 9:15 AM EST
Global Networks Corp. Announces Appointment of New CEO
Global Networks Corp. (PINKSHEETS: GBNW) is pleased to announce that Joseph LaCascia has been appointed as CEO and will join its Board of Directors. Mr. LaCascia comes to the company with an extensive business background and experience in server-based gaming technology.
Server-based gaming technology is expected to rapidly replace existing gaming machines and kiosks as casinos rush to make their casino floors more profitable by marrying client/server technology to their traditional business model. Players in the future will be able to access personal menus and any number of games from gaming machines linked to a casino's central server. Gone are the days when players need to move between machines to access different games. Casino owners will be able to customize and model offers, preferences and profiles on their patrons delivering a more profitable and rewarding gaming experience.
With billions of dollars at stake as new technology replaces older gaming terminals the company will continue to make more announcements in the coming weeks as it assembles a hand-picked management team.
"We are pleased to announce that Mr. LaCascia has decided to join the company and its Board of Directors," stated Shawn Balaghi, the company's President. He continues, "Mr. LaCascia has a strong record of career accomplishment with an Ivy League pedigree. More importantly, his intimate knowledge of this explosive new field of technology will give the company a strong advantage in forging alliances and developing new business opportunities. He is recognized as a pioneer in this field. We could not be happier."
About Joseph LaCascia
Mr. LaCascia began his career in retail where he started as an operations and customer service manager and went on to be recognized for merchandising excellence by two independent national associations.
In early 1992, Mr. LaCascia joined American Card Services (ACS), a credit card enhancement company, as Director of Marketing and subsequently moved in 1993 to help create Affinity Partners, Inc. (API) with the founders of ACS. He served as Senior Vice President of Marketing and Operations.
API, later known as First USA Partners, was a privately held firm that was established to act as the affinity business development arm of First USA Bank. During the next five years he served to orchestrate sales and brand marketing strategies, resulting in the development of more than 400 endorsed MasterCard and Visa programs. These high-profile alliances translated into millions of new credit card accounts for First USA. Program partners included Fortune 500 companies to sports teams to some of America's most prestigious non-profit organizations. Program partners included America Online, Southwest Airlines, Countrywide Mortgage, Ann Taylor, PGA Tour Partners, the Dallas Stars, Yale University Alumni Association, University of Notre Dame, National Geographic and the American Kennel Club.
After his departure in 1997, Mr. LaCascia went on to invest in and launch several start-up companies. In 2004, Mr. Lacascia acquired GDI Software (GDI), a privately held software development firm specializing in the new field of server-based gaming systems for land-based casinos. During the past several years Mr. LaCascia grew the company and its technology base significantly.
Mr. LaCascia holds a Bachelors of Arts Degree from Harvard University.
About Global Networks Corp.
Global Networks Corp. (PINKSHEETS: GBNW) is an industry leader in server-based gaming software and kiosk products for the global casino industry. The company's proprietary state-of-the-art technology allows operators the ability to better manage and deploy multi-game terminals and other gaming hardware with significantly greater ease and speed. The result is not only increased revenue throughout the traditional casino or betting parlor floor, but also the ability to deploy a "Casino in a box" concept to a much wider array of venues. This emerging growth technology, now being implemented throughout the world, allows for real-time CRM (customer relationship management), customized deployment programs for a large number of popular casino games, and allows operators to capitalize on an expanded base of marketing options. The end result is increased profitability on a per square foot basis for casino operators, and a better gaming experience for their patrons.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained herein, which are not historical, 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 beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Investor Contacts:
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Source: Marketwire (December 18, 2007 - 9:15 AM EST)
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