Diamond I, Inc. (OTC BB: DMOI), a developerof wireless gaming products, today announced that the Nevada GamingCommission adopted final regulations implementing Nevada Law AB471 at itsmeeting yesterday in Las Vegas. The adoption of the final regulationsallows companies to begin to file applications for approval of hand-heldwireless gambling devices, such as Diamond I's WifiCasino GS™ wirelessgaming system.
Nevada Law AB471 authorizes the use of mobile communication devices forgaming in public areas in Nevada casinos.
"'Gaming-on,' so to speak," said David Loflin, Diamond I's CEO. "Yesterdaywas an exciting day in our company's history as we watched the GamingCommission formally adopt the final AB471 regulations. We are ready for thecoming adventure."
About Diamond I, Inc.
Diamond I, Inc. is a development-stage company that develops wirelessgaming products, including a hand-held Wi-Fi-based gaming system foron-premises use by casinos/resorts, known as "WifiCasino GS Concierge andGaming System"™. The term "Wi-Fi" (wireless fidelity) refers to an industrystandard for wireless equipment that meets published 802.11(x) standards.Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz.
With the passage of Nevada Law AB471, which authorizes the use of mobilecommunication devices for gaming in public areas in Nevada casinos, DiamondI seeks to secure a Las Vegas hotel/casino to serve as the demonstrationsite for its WifiCasino GS, in conjunction with its application for agaming license in Nevada. To that end, in a letter of intent, The PalmsResort and Casino has agreed to continue to develop a working relationshiprelating to Diamond I's WifiCasino GS and, assuming Diamond I continues tomeet certain standards, The Palms stated that it intends to pursue anopportunity with Diamond I. Diamond I continues to seek venues in which toestablish its WifiCasino GS system, including other U.S. casinos and horseand dog racing facilities. Diamond I has had preliminary discussions withcertain owners of cruise ships, certain owners of horse racing facilitiesin the United States and dog and horse racing facilities outside the UnitedStates.
Forward-Looking Statements
Certain statements in these interviews and news releases may constitute"forward-looking" statements within the meaning of Section 21E of theSecurities Exchange Act of 1934. Such forward-looking statements involverisk, uncertainties, and other factors, which may cause the actual results,performance, or achievement expressed or implied by such forward-lookingstatements to differ materially from the forward-looking statements.Certain statements contained in the interviews are "forward-lookingstatements" within the meaning of the Private Securities Litigation ReformAct of 1995. Such statements involve numerous risks and uncertainties,including, but not limited to, risks and uncertainties pertaining todevelopment of Diamond I's products and services and markets for suchproducts and services, the timing and level of customer orders, competitiveproducts and service, changes in economic conditions and other risks anduncertainties. Although Diamond I believes the statements are reasonable,it can give no assurance that such expectations will prove correct. DiamondI cautions that any forward-looking statements contained herein are not aguarantee of future performance and that actual results may differmaterially.
Contact:Diamond I, Inc.Baton RougeDavid Loflin225-341-4004
SOURCE: Diamond I
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