HOUSTON, TEXAS--(CCN Disclosure, January 29, 2001)--LASV Enterprises Inc.
(OTCBB:LASV), www.lasv.net, announces it is moving rapidly to commence startup
of the nationa
The sole National Lottery License is held by Press - Lotto, a Russian Lottery
Corp., owned jointly by the Union of Journalists and Rugby National Corp., (now
owned by LASV Enterprises, Inc.). The gross revenues regarding the sales of
lottery tickets are distributed as follows: Rugby National Corp. 17.5%, Union of
Journalists 17.5%, Prize Allocation 50%, Expense Allocation 15%.
The Public Association, the Union of Journalists of Russia, and the American
Company Rugby National Corp. founded the Russian limited liability Company Press
- Lotto in 1995. It was founded on the basis of a Government Resolution dated
1995, which insured the organizing and carrying out of the online lottery by the
Union of Journalists of Russia. The license issued by the Ministry of Finance to
the Union of Journalists was also on the basis of the President's Decree
regulating the order to carry out the online lottery. The main type of
activityof Press - Lotto is to organize and carry out the online lottery in the
territory of the Russian Federation. In accordance with the Charter of Press -
Lotto, Rugby National Corp. provides the project with equipment, software and
the necessary communications. It is centrally located in Moscow and throughout
the Federation of Russia.
The Union of Journalists of Russia is a major organization in the Russian
Federation with 60,000 members and is a founder and shareholder of Press -
Lotto. During the last five years the Union of Journalists of Russia and the
other founder and shareholder of Press - Lotto, Rugby National Corp., was
working out the strategy of the online lottery project. As a result, this
project is completely ready to be started first in Moscow, and to be enlarged in
the territory of the Russian Federation in the future. The Union of Journalists
of Russia and the assistance of its' 60,000 members, along with Rugby National
Corp. provides the project with the license, the communication and
organizational skills to carry this lottery to fruition.
Rugby National Corp.'s role is to set up and supply the expertise and technology
to operations. Over the past four years several studies and assessments have
been completed by top rated lottery companies. The recommendation of the Board
of Directors was to commence operations immediately, with a view to expand to a
full National Operating Lottery in 3 -5 years.
Due to the extensive lottery program to be introduced within the Russian
Federation, LASV Enterprises, Inc. is pleased to announce the appointment of W.
Brent Pennington to the Board of Directors of LASV Enterprises, Inc.. Mr.
Pennington will be in charge of the initial set up and on going expansion of the
Lottery within the Russian Federation. With his extensive expertise in
lotteries, his vast amount of experience in Eastern Europe, and his assessment
of the culture and lottery opportunities, he brings an unsurpassed
professionalmanagement leadership profile to the project. His experience in
gaming, lottery projects and management is as follows:
Summary of Experience:
Senior executive of business development and operations of government sponsored
lotteries. Extensive experience within the government sector, vendor sector
(technology and management) and an executive consultant in North America,
Europe, Asia and the Russian Federation. Expertise in the political process of
lottery related legislation, pre-operations strategy and planning, project
management implementation, and management of lottery organization.
Seventeen years of continuous lottery industry service and experience includes:
GTECH Corporation (NYSE:GTK)
Director, Retail Development: Staff level corporate position with worldwide
responsibilities to enhance the performance of the company as it pertained to
retail operations and distribution. Interfaced at all levels of the company with
particular focus on implementing modern retailing procedures within Europe,
North and South America and Australia. Developed and championed the strategies
currently being implemented within the company for updated retail systems,
newapproaches to lottery ticket sales, non-lottery transaction-based processing
and other new business development.
Served as corporate liaison to European Operations to facilitate communications
within the company and increase productivity of the European division as an
Ombudsman for the initiatives of the European organization. Represented the
product marketing development department to determine market opportunities and
the need for new products and services for Europe, including Turkey and the
Russian Federation.
Provided expert consulting to major new online system projects in Central and
Eastern Europe. Assigned for one year in the pre-operations phase and early
operations, seconded to Camelot Plc., the operator and license holder of the UK
National Lottery as Senior Management Consultant.
Games Services International, LP.
GSI, LP. is a management consulting company specialising in the development of
the national Russian Federation Lottery. Mr. Pennington served as Chief
Operating Officer:
Consulting
Mr. Pennington performed consulting services with Virginia Lottery, U.S.A and
consulted on business strategies and marketing programs in the Russian
Federation, Hungary, The United Kingdom and in North America. Mr. Pennington has
been a guest speaker, sales trainer, motivator and advisor to many North
American Lotteries. In addition, has chaired the Sales and Marketing committee
of the North American Association of State and Provincial Lotteries and
championed its formation.
Virginia Lottery, USA
Director of Sales, reporting to the CEO. Five months prior to the start date of
sales, Mr. Pennington, defined the sales organization (headquarters, key
accounts and filed sales), hired staff and grew the annual turnover volume to
$900 million in a 6million population state. The lottery was one of the most
successful ever in its early phases measuring per capita sales performance. Mr.
Pennington orchestrated the entry of US lotteries into instant ticket automatic
vending in 1990 by entering into the first instant vending contract. Sales
andefficiency of the system have been proven, and today over 20 US lotteries use
vending.
Washington State Lottery
Commencing in 1982, Mr. Pennington performed as a member of the management team
holding the positions of regional sales manager, general sales manager and
later, Director of Marketing and Sales. Implementation of instant and online
lotteries in the infancy of modern practices, and grew sales to $225 million
annually over 3600 retailers.
With Mr. Brent Pennington leading the management of the Russian National
Lottery, (fully utilizing the Union of Journalists within the Russian
Federation, with their extensive country wide membership), it is expected a most
successful start up and rapid expansion program will occur resulting in the
National Lottery project proving to be one of the most successful run and
lucrative lotteries in the world.
LASV Enterprises, Inc. would also like to announce the appointment of Mr. Harvey
Weinstein to the Board of Directors. Founder of U.S. Imaging Inc., a retail
sales and service company specialising in X-ray equipment which developed into a
world wide manufacturer of Digital Imaging Equipment with offices in New York,
China, The Russian Federation and south America. Once established in his office
in the Russian Federation, Mr. Weinstein formed a partnership with Moscow Trans.
to establish the outdoor advertising on trolley and buses of which was later
sold. After working on the Lottery License project for 7 years, the Lottery
license was received in 1998 with the Union of Journalists for Russia and the
formation of Press - Lotto was commenced.
LASV is extremely excited about the completion of the acquisition and the
potential to capitalize as the sole player of this upward climbing market. LASV
Enterprises, Inc., www.lasv.net, as originally stated in the corporation's
Investor Information Literature and Business Plan will continue to acquire and
develop destination resorts which will include all accommodations and catering
facilities as well as casinos and gambling. LASV will continue to negotiate
these related acquisitions to enhance shareholder value and further ensure the
rapid growth of the company.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: Statements in this
press release that are not historical facts, including statements about plans
and expectations regarding businesses and opportunities, demand and acceptance
of new and existing businesses, capital resources, and future financial
condition and results are forward-looking. Forward-looking statements involve
risks and uncertainties, which may cause actual results in future periods
todiffer materially and adversely from those expressed. These uncertainties and
risks include changing consumer preferences, lack of success of new businesses,
loss of customers, competition, and other factors discussed from time to time in
filings with the Securities and Exchange Commission.
OTC Bulletin Board SYMBOL: LASV
Copyright (c) 2001, Canadian Corporate News, all rights reserved.
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