NEW YORK, NY — (Marketwired) — 07/23/13 — (OTCQB: VGTL) announced it has completed negotiations with several operators to help them expand internet sweepstakes and charitable gaming operations in several states, including New York and Pennsylvania, which are currently experiencing rapid growth in this $20 billion industry. CEO Peter Shafran described the transaction as a revenue sharing arrangement, saying, “The model calls for each location to operate 50 or more game terminals and VGTel, Inc. will participate through a revenue sharing arrangement exclusive of the day-to-day management of the facilities.” Shafran continued, “We believe this will work very well for the Company. Without having to manage operations, we can still increase our top and bottom line revenue, which benefits the Company and our shareholders. We feel that this model can be expanded into many other states and venues and will serve as a platform for the continued growth of the company.” Accordingly, VGTel, Inc. is proceeding towards executing formal contracts shortly with an owner/operator to build, acquire and manage as many as 50 locations in New York and Pennsylvania alone.
is devoted to creating a multi-platform company offering products and support in the digital gaming industries. In addition, is seeking other opportunities in the rapidly growing electronic gaming industry in those venues and states where allowed by regulation. Our business outlook focuses on a strategy of growing and building business units through investments and acquisitions. For further information, go to
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This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company-s business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as “will,” “expect,” “anticipate,” or “may,” or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in the Company-s filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:
Investor Contact:
Peter Shafran
CEO
VGTel, Inc. dba 360 Entertainment & Productions
Phone: (360) 8-360-ENT
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