MGN Technologies Inc. (OTCBB: MGNLF) doingbusiness as Mobile Gaming Now (the "Company") announced today the launch ofits online and mobile Casino Sweepstakes website at www.mgnpoker.net whereplayers play for fun or compete for cash prizes.
MGN Casino Sweepstakes features casino games played online or through amobile phone where players can play for free and earn points to enter cashdrawings. Texas Holdem' is the featured game and can be played online oron a mobile phone through a browser. Players compete in a multi-playerenvironment and earn points for their participation in the site. Othergames available include black jack, roulette, slots and video poker.
Mobile Gaming Now offers Texas Holdem' poker on the mobile phone through 57handsets on the Cingular Wireless network. This includes the MotorolaRAZR, one of the best selling mobile phones of all time. The game is alsoavailable on the Blackberry. The Company announced it has built a versionof its poker game for the Blackberry 8700, the newest and fastestBlackberry phone.
According to recent research conducted by leading consumer and retailinformation company The NPD Group, total U.S. consumer spending on PC Gamesreached $1.4 billion in 2005. Of this total, online subscriptions to PCgames and gaming Web sites were estimated to account for $344 million.Industry research firm, Yankee Group, estimates revenue from mobile phonegaming in the United States totaled $173 million in 2004 and will hit about$1 billion in 2008.
Mobile Gaming Now said it has registered approximately 350 players in May2006 for the sweepstakes game and has registered nearly 1,000 members sinceFebruary 2006. There are as many as 1,200 entries a day into cashdrawings. The website at www.mgnpoker.net is getting nearly 10,000 uniquevisitors a month. Since its launch, 13 winners have won more than $4,000in prizes through the sweepstakes drawings. The Company expects toregister 10,000 members in the next year through its own operating website.A club membership for extra prizes and services will be available in June.
"We're an innovative Internet gaming company with mobile and online games.We focus on subscription revenue. Our new members are enjoying our onlineand mobile games and winning cash prizes too," said CEO Mark Jensen. "OurCasino Sweepstakes games are not online gambling. No wagering is involved.Given the recent press regarding the legalities of online gaming it'simportant that we make a clear distinction to our shareholders and market,"said CEO Mark Jensen.
Jensen said Mobile Gaming Now's version of casino games utilizessweepstakes law where players are not obligated to purchase anything andthe outcome of the game doesn't determine how many points are earned forentering prizes. He said the game doesn't qualify as wagering and can beplayed by any adult in the United States.
"Players can play for free or join our membership club and play our casinogames for prizes with the knowledge that it's 100% lawful," Jensen said. Hesaid the Company's sweepstakes games are particularly relevant with recentlegislation that has been passed at state and local levels.
A series of legal events pertaining to illegal online gaming have occurredrecently.
Washington State is now one of the first states in the U.S. to pass a lawbanning the play of online poker. The law will go into effect June 7, 2006.SB 6613 makes placing bets online a Class C Felony with a maximum sentenceof 10 years in prison.
On May 25, 2006 the U.S. House Judiciary Committee approved HR4777 called"The Internet Gambling Prohibition Act." This Act expands the Wire Act toapply to all games of chance, such as poker, black jack, backgammon, bingoand any other casino game, as well to cover lotteries. The Interstate WireAct of 1961 is a United States Federal Law prohibiting the operation ofcertain types of betting businesses in the United States. The bill willproceed to the full House of Representatives for further consideration.
The Committee also approved HR 4411, "The Unlawful Internet GamblingEnforcement Act of 2006." This bill is designed to prevent the use ofpayment instruments (credit cards, fund transfers, etc.) for certain formsof online gambling that are defined as "unlawful Internet gambling." Thebill will proceed to the full House of Representatives for furtherconsideration.
About Mobile Gaming Now
Mobile Gaming Now is a gaming software developer and marketer focused onthe casino gaming market, with offices in Kirkland, Washington andVancouver, British Columbia. The Company operates its own gaming sites, aswell as licenses its gaming platform to strategic partners. Players canplay for free or play for prizes. The company developed the first multiplayer Texas Holdem' game for free or money with integrated PC and mobileplay. Please click onto www.mobilegamingnow.com for more information.
Forward-Looking Statements
This press release contains certain statements which are not historical orcurrent fact and constitute forward-looking statements within the meaningof such term in Section 27A of the Securities Act of 1933 and Section 21Eof the Securities Exchange Act of 1934. Such forward-looking statementsinvolve known and unknown risks, uncertainties and other factors that couldcause the actual financial or operating results of the Company to bematerially different from the historical results or from any future resultsexpressed or implied by such forward-looking statements. These statementsinclude i) MGN has registered approximately 350 players in May, 2006 ii)MGN has registered nearly 1,000 members since February, 2006 iii) MGN hasas many as 1,200 entries a day into cash drawings iv) The website atwww.mgnpoker.net is getting nearly 10,000 unique visitors a month v) 13winners have won more than $4,000 in prizes through the sweepstakesdrawings vi) A club membership for extra prizes and services will beavailable in June for $9 a month vii) The Company expects to register10,000 members in the next year through its own operating website viii)MGN's Casino Sweepstakes games are not online gambling and no wagering isinvolved. Such forward-looking statements are based on our best estimatesof future results, performance or achievements, based on current conditionsand the most recent results of the Company. In addition to statements whichexplicitly describe such risks and uncertainties, readers are urged toconsider statements labeled with the terms may, will, potential,opportunity, belies, belier, expects, intends, estimates, anticipates orplans to be uncertain and forward looking. The forward-looking statementscontained herein are also subject generally to other risks anduncertainties that are described from time to time in the Company's reportsand registration statements filed with the Securities and ExchangeCommission.
Distributed by Filing Services Canada and retransmitted by Market Wire
Contact:Don CurrieToll Free 1-888-990-3551
SOURCE: MGN Technologies, Inc.
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