June 28, 2001
Bingo.com Signs Letter of Intent to License Software in Asia; Bingo.com to Capitalize on Emerging Asian Broadband Access
VANCOUVER, British Columbia, June 28 /PRNewswire/ — BINGO.COM LTD. (OTC Bulletin Board: BNGOF.OB – news) an high-traffic entertainment portal and application service provider (ASP), today announced that they have signed a Letter Of Intent to license their new Pay for Play software to WARP Cybertech Ltd., a leading provider of broadband access to China.
Under the terms of the Letter of Intent, Bingo.com will license and provide its software so that WARP Cybertech may use to operate Pay to Play Tournaments of skill bingo and other games provided by Bingo.com in the greater China area. It is the intent of WARP Cybertech to deliver the Bingo.com software to its bandwidth users and that it will deliver content, including Bingo.com’s software, to over 1 Million households in China by 2003.
Shane Murphy, Chairman, CEO and President of Bingo.com, said, “The Asian market, especially China continues to grow exponentially as broadband is introduced to the mainland. Although the U.S. still accounts for the most of the world’s Internet usage, Bear Stearns believe that international markets currently hold the strongest growth opportunities. At present, China is the fastest growing Internet market in Asia and is expected to become the global leader in the next five years. By introducing our software into this emerging market, we hope to gain a foothold in the lucrative Asian market, which is still in its infancy.”