Phoenix Interests Account Wagering Site, BetBarn66.com, Shows Continued Improvement In Results; November 2005 Handle Up Over October Totals
12/8/2005 9:25:01 AM
JEFFERSONVILLE, Ind., Dec 08, 2005 (BUSINESS WIRE) -- Phoenix Interests, Inc. (PHXI) announced today that BetBarn66.com, the account wagering site of its wholly owned subsidiary, Online Enterprises, Inc., continued to show progress with increases in total and daily average handle.
November handle totaled $102,839.90, with a daily average of $3,428, representing an increase over October's total handle and an increase in daily average of nearly 4%. These increases over October are particularly impressive when considered in light of the following facts:
-- October featured the site's single largest day yet, October 29th;
-- October featured a major racing event -- the Breeders' Cup -- as well as several prep races early in the month;
-- October has one more day than November;
-- BetBarn66.com undertook substantial marketing initiatives in October in connection with the Breeders' Cup; and
-- Due to the Thanksgiving holiday, fewer races were offered in November than in October.
In November, the site placed a media buy in a core market, but due to forces beyond the site's control the vast majority of the ads did not run, resulting in a refund to the site. While it is disappointed that the advertisements did not air, BetBarn66.com is extremely encouraged that it was still able to top daily average totals and monthly totals from the prior month, when substantial marketing campaigns were active.
The site used its proprietary email system to communicate with existing and potential customers in the site's database. A primary element of the daily communication is the Guaranteed Ticket promotion, which provides new customers with a guaranteed winning bet on the day they open their account. During the month of November, the Guaranteed Ticket returned profit of nearly 12% on combined wagers for those players making the bet daily. In addition the site had BETTY wagering kiosks in place, enabling the site to reach new customers and increase handle. The preliminary results have demonstrated that customers enjoy using the BETTY wagering kiosk and being able to wager from a restaurant.
Jim Tilton, Phoenix's CEO stated: "We had extremely high expectations for the Breeders' Cup, and our performance outpaced even the most optimistic projections. Heading into November we redoubled our internal efforts to continue the progress achieved and to avoid a drop off. That we were able to move forward across the board is a testament to the quality of the experience and service we are providing to our customers. We look forward to continued success and growth in customer acquisition and handle, and we are hoping for a strong finish to 2005 and even better results ahead in 2006."
All account wagering activity on www.BetBarn66.com is handled by AmericaTab, Ltd., a multi-jurisdictional simulcasting and interactive-wagering totalizator hub licensed by the State of Oregon. BetBarn66.com is a member of the AmericaTab affiliate system.
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 Phoenix Interests' filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.
SOURCE: Phoenix Interests, Inc.
Phoenix Interests, Inc.
Jim Tilton, 502-583-4434
Copyright Business Wire 2005
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