Industry and federal endorsements for the future of the US Online gaming market compliments the Intelimax business strategy
VANCOUVER, Sept. 9 /PRNewswire-FirstCall/ - Intelimax Media Inc. ("Intelimax" or the "Company") (OTCQB:IXMD) issues a statement and supporting data on the credence that its business strategy is gaining within the global Online Gaming industry.
A recent article published in the New York Times provides the clearest indication so far that Intelimax have approached the whole Online Poker market in the US correctly with its legal Subscription Gaming model. This article further endorses this through the recent merger announcement by party gaming and Bwin as they strive to position themselves for expansion into the US market.
Chaz Green, President and CEO of Intelimax used this medium to convey this message to the market. "Having recently launched a legal online business model for the US online poker market, we are now seeing global gaming operators position themselves in anticipation of the next developments within the USA legislative framework. However, until legislation legalises online gambling at a Federal level, all this posturing can only be conducted from the side lines. Intelimax, through its White Label Subscription model, makes it possible for these interested parties to start generating Online gaming $$ today. More important than this, however, is that Intelimax can empower these operators in establishing a loyal group of members that will be in place at the flick of a switch once the rules are relaxed."
Intelimax anticipates that the new laws will take some time to come into effect as there still needs to be several more readings, changes and compromises. "With the best intentions or determination in the world nothing will happen at a Federal level, in my opinion, until early 2012," commented Green.
Through our White Label product Intelimax will be able to immediately provide a legal Online Poker format for new and existing gaming companies wishing to offer this online.Having recently finished the development of our subscription platform, Intelimax is ready to assert its position as this exciting opportunity unfolds.
As part of this news release, Intelimax has incorporated excerpts from the New York Times article to ensure the reader has a comprehensive understanding of the essence and opportunity this new release is endeavouring to convey.
The New York Times By ERIC PFANNER Published: July 29, 2010
"Two of the biggest European operators of Internet betting sites, PartyGaming and Bwin Interactive Entertainment, said Thursday that they planned to merge, forming the world's largest publicly traded online gambling company."
"The deal comes at a time when a number of governments both in Europe and the United States are relaxing the rules on online gambling, hoping to tax the activity and use the revenue to reduce gaping budget shortfalls."
"On Wednesday, the Financial Services Committee of the House of Representatives approved a bill that would overturn the 2006 law. Supporters say taxes on Internet betting could yield as much as $42 billion for the government over 10 years."
In Europe, Italy and France recently began allowing privately owned gambling sites to operate in competition with state-controlled monopolies. Other countries are considering similar moves, allowing them to tax Internet betting, a business worth nearly $30 billion globally, according to H2 Gambling Capital, a consulting firm."
The merger would bring together companies that in 2009 generated gambling revenue of 682 million euros, or $893 million, and earnings before interest, taxes, depreciation and amortization of 196 million euros. Under the merger agreement, Mr. Ryan of PartyGaming would share the chief executive role with Norbert Teufelberger, who is currently co-chief executive of Bwin, along with Manfred Bodner. Mr. Bodner would become a nonexecutive director.
Analysts say the companies are a good fit because Bwin has a big presence in sports betting while PartyGaming is stronger in online poker and casino games. The deal would allow them to cut costs and to cross-promote each other's sites, potentially reaching new customers. The shares of both companies surged Thursday on news of the deal, which follows months of speculation that Bwin and PartyGaming might merge. Now, analysts say, further consolidation is likely in the industry.
About Intelimax Media Inc.
Intelimax Media Inc. (www.intelimax.com - Facebook: www.facebook.com/intelimax) is an Internet services company focusing on online games and web content. Using its proprietary InteliGaming multi player network, Intelimax licenses complete white label products, providing a full service subscription gaming solution to 3rd parties. In addition, Intelimax operates its own subscription gaming and social networking site, Gamboozle.com(TM) (http://www.gamboozle.com).
For and on behalf of the board of Intelimax, Charles Green, President & CEO
Forward Looking Statements:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Intelimax or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Intelimax's products, the competitive environment within the industry, the ability of Intelimax to continue to expand its operations, the level of costs incurred in connection with Intelimax's expansion efforts, economic conditions in the industry and the financial strength of Intelimax's customers and suppliers. Intelimax does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Intelimax Media Inc.
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