NEW YORK, March 7, 2012
NEW YORK , March 7, 2012 /PRNewswire/ — VGTel, Inc., dba 360 Entertainment and Productions (OTCBB: VGTL ), Details Business Overview and Expansion Plans.
VGTel, dba 360 Entertainment & Productions, is devoted to creating a multi-platform media company offering content, production, distribution and programming, along with products and vehicles for financing tax credits and other products tailored to the entertainment industry.
Our business outlookis based on a strategy of growing and building business units through investments and acquisitions. In addition to our core media and emerging businesses, we are entering into one of the most explosive growth industries in America with the distribution of Internet Sweepstakes Kiosks. These machines are built in the USA with a Forged Steel custom-built security case, 22″ HD Widescreen touch-screens, Card Reader System, Proprietary Internal Hardware Components, Premiere Gaming Software, Complete point of sale systems. They have the look and feel of slot machines and other casino gaming devices – but are legal in most states under current laws regulating sweepstakes.
“Our entry into this exciting and growing industry is another important step in the development of our Company and will provide us with needed revenue to further accelerate the implementation of our plans to fund other related media and entertainment projects in the near future,” noted Peter Shafran, CEO.
THESE KIOSKS FEATURE:
- Customizable Games and Themes
- The ability to add new games monthly
- Convenient touch-screen monitor
- Simple User Interface
- Easy Internet access for end-users
- Exciting Bonus Features
- No other computers, servers, or equipment needed
- Hands-on setup and training
- Just plug in and turn on!
- Completely Certified & Compliant System
- Designed to Optimize User Experience and Business Results
- Live, 24/7 reporting, monitoring, and control (we can check reports from any internet connection!)
- 24/7 support
Sweepstakes Kiosksoffer all of the benefits of an internet cafe (also called sweepstakes rooms or parlors) – but can yield a greater return on investment , have no overhead, are certified and compliant, and much simpler and less expensive to set up and operate than an internet cafe. Sweepstakes Kiosks are experiencing tremendous success in the marketplace as there is nothing else like them in the industry.
Our Kiosks make an attractive and highly profitable addition to any high-traffic business. We have already identified thousands of such locations in bars, convenience stores, truck stops, laundromats, and even in existing internet cafes and sweepstakes rooms, in which the machines will be placed.
But, is it legal? Isn't it gambling?
In most states, in order for an activity to be considered “gambling”, three elements are required: Prize, Chance and Consideration . Sweepstakes have prizes , of course. Chance is also a part of any sweepstakes game, as there is a random element involved. If a participant pays directly to enter into a game, you have Consideration . Now, think about most newspapers – they regularly hold “contests” in which you don't buy game pieces, you just buy the newspaper. Then, for example, you have to find clues hidden throughout the newspaper, paste them onto a card and mail them in to the newspaper, or go online to their contest page and enter the clues you found, in order to win.
Internet sweepstakes work the same way. Customers are not purchasing entries into a sweepstakes – instead, they are purchasing Internet time. When they purchase this “product”, they are given free entries into a sweepstakes. Instead of sending in “clues” entries, customers go to the sweepstakes kiosk to see if they have won. Simply put, the sweepstakes kiosk is like the newspaper contest, and the Internet time is like our newspaper. This it what makes these sweepstakes gaming systems legal.
What is the market for these sweepstakes systems in the US?
Nearly 60 million Americans play sweepstakes games every year. Internet Sweepstakes, currently an unknown industry to most folks, is actually one of the fastest growing industries in the country with about $15 Billion per year in revenues . (Bloomberg Businessweek, April 21, 2011)
Isn't there an effort by some government entities to shut them down?
In spite of legal challenges in several states, the sweepstakes industry is well within legal norms.
For further information, go to the Company's website.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business.
The Company is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.
VGTel, Inc. dba 360 Entertainment & Productions
Phone (360) 8-360-ENT
SOURCE VGTel, Inc. dba 360 Entertainment & Productions