In a joint statement issued today by Mobile Lottery Solutions Inc. (TSX-V:MLS), Bill McKay, CEO and Richard Turner, Director, made the case that the recently announced internet gambling ban in the United States could serve as the impetus for internet and mobile delivery of regulated lotteries and other forms of approved gambling by Provincial and State lottery corporations.
Stated Turner, the former Chairman of the British Columbia Lottery Corporation, "When enacted, the U.S. legislation will create an annual pool of more than US$4 billion in Canada and the U.S. which would be immediately available to provincial and state lottery corporations for legal and regulated gaming activity."
According to the American Gaming Association, estimated global internet gambling revenue for 2005 totaled some US$11.9 billion and is projected to double by 2010. The U.S. accounted for approximately US$4 billion of the global total in 2005. While Canadian revenues were not listed, they are estimated to have been around US$300 million. Based on faster projected growth rates in North America, U.S. totals are expected to surpass US$10 billion by 2010. Canadian totals are expected to reach US$1 billion in the same period.
"However," added Turner, "the regulated lotteries should move quickly to seize the opportunity. This means offering their players a far broader range of very high quality games, plus easy player access via the internet and mobile devices.
"Svenska Spel, the Swedish Lottery, did this over the last year by introducing online bingo, which has been a huge success. While regulators were initially circumspect, they came to understand that Swedish citizens would prefer to play through a government-sponsored site, which has the added benefits of keeping the money in Sweden, of having gaming activities fall under relevant responsible gaming regulations and providing additional funding for charities and government."
In 2005 Provincial lotteries in Canada had combined revenues of C$12.9 billion and generated C$7.3 billion in profits. These revenues come from lottery games, video terminals and casinos. Industry growth of 79% since 1992 makes it the fastest growing industry in Canada by a wide margin.
Currently only two of Canada's eight Provincial lotteries - B.C. and the Atlantic Lottery - offer lottery access and other games via the internet. "Mobile Lottery Solutions is working with a number of regulated lottery corporations to implement the MLS patents and mobile technology so as to enable the lotteries to benefit from this potential windfall," said McKay.
-------------------------------------------------------------------------
Mobile Lottery Solutions is an innovative applications and marketing
company that sells its unique mobile-delivered gaming solutions to the 54
regulated lotteries throughout North America who are focused on
presenting their games to the 250 million of us who don't leave home
without our keys, our wallets and our mobile phones.
-------------------------------------------------------------------------
Mobile Lottery Solutions is a publicly-traded Canadian corporation -
TSX-V:MLS
For information please contact: investorinfo@mobilelottery.com
-------------------------------------------------------------------------
Respectfully submitted on behalf of the Company,
"Wm R. McKay, P.Eng."
---------------------
Wm R. McKay, P.Eng.
Chairman of the Board & CEO
-------------------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
Forward-looking Statements: This news release contains forward-looking statements related to the future financial condition and results of operations of MLS. These statements are based on current expectations and estimates about the markets in which MLS operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. Some of the factors which could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; and success in implementing productivity initiatives. Some of these factors are largely beyond the control of MLS. Should any factor impact MLS in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by MLS will be realized or, even if substantially realized, that they will have the expected consequences for MLS. Readers should not place undue reliance on any forward-looking statements. Further, MLS disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.
For further information: Dana Wish, Mobile Lottery Solutions Inc., 683 Millbank Road, Vancouver, BC, V5Z 4B7, Canada, Tel (604) 606-2032, Fax (604) 606-2040, Mobile (778) 995-0990, E-Mail: d.wish@mobilelottery.com, www.mobilelottery.com
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