PHXI news for krznate. Are ya still in bud?
Phoenix Interests Group Launches Comprehensive Marketing Program
JEFFERSONVILLE, Ind.
CEOcast, Inc.
Ed Lewis, 212-732-4300
Phoenix Interests, Inc., (OTCBB: PHXI), the owner of the online horse-wagering and destination sites Barn66.com and BetBarn66.com through its subsidiary Online Enterprises, Inc., announced today it has developed a comprehensive marketing plan, including print, online and radio advertising, aimed at increasing its online wagering customer base. Phoenix has implemented the first phase of this marketing plan by targeting major markets via print and radio media. Chicago was the first major market targeted, with Baltimore, New York and others soon to follow. Additionally, in the coming weeks the company plans to market its websites by means of advertising posted on other websites catering to those who wager online. The company also plans on holding at the Kentucky Derby and other Triple Crown Racing events free seminars on online wagering, and also plans to distribute flyers at such events.
"The company is now poised to start rapidly increasing its customer base, and the height of the Thoroughbred season is the perfect time for us to be launching our marketing campaign," stated Jim Tilton, Phoenix's CEO.
The company believes that it needs an initial base of 2,500-3,000 customers in order to achieve operational profitability. It believes that it can meet this target over the next 18-24 months through various marketing strategies, and that once it does so its online wagering subscriber base will become a valuable asset within its portfolio and will enable the company to seek other synergistic business opportunities. "I am excited to begin our campaign to make 'BetBarn66.com' a household name to horse racing fans," stated Mr. Tilton. "Along with our announced marketing plan, we continue to investigate other creative marketing strategies with our marketing partner, Pylon Management, in order to reach our critical mass of customers."
"We believe that the continued growth in both horse racing and online wagering has the company positioned for tremendous exposure through various means of marketing and promotions," stated Jeff Raymond, of Pylon Management. "There is no question that there is a large market for this business, as evidenced by the tremendous success of youbet.com (NASDAQ symbol: UBET) and other online wagering sites. It is now our task to find creative and cost-effective means of arranging increasing our customer base."
The company will announce any new marketing or promotional platforms as they are developed.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "soon," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.
market.
