NEW YORK, March 14, 2012 /PRNewswire/ -- VGTel, Inc. dba 360 Entertainment & Productions (OTCQB: VGTL) (OTCBB: VGTL) announced today that it has signed a definitive agreement with Visual Entertainment Systems, LLC (VES) to purchase, distribute and install 1000 of the company's Internet Kiosks - arcade style sweepstake gaming systems, software and hardware units. The transaction is expected to close in mid-March 2012.
Peter Shafran, CEO of 360, said that "after researching various kiosk manufacturers around the country, we chose to work with Visual Entertainment Systems, LLC (VES) based on their revolutionary kiosk design and advanced proprietary hardware, their exceptional customer service and 24/7 real-time monitoring. "We will install our kiosks in bars, restaurants, entertainment centers, convenience stores and other high traffic areas in Ohio - just as fast as VES can build them," added Shafran. The purchase and distribution of the kiosks is expected to establish 360's entry into one of the hottest growth industries in the country and enhance its entertainment services line of business. "We are already scouting locations in North Carolina, Florida, Texas, and a few other states," said Shafran.
These internet sweepstakes kiosks have the look and feel of slot machines and other casino gaming devices. As the kiosk's games are "sweepstakes-related" – instead of "games of chance" – the games fall outside of the legal definition of "gambling" prohibited in many states. The way it operates is that when customers buy internet access time on the kiosk to surf the internet for a set time, they are also given FREE entries into a "sweepstakes" game. The customers can then reveal the sweepstakes entries on the kiosk, which shows the sweepstakes results by simulating casino-style games.
"Our entry into this exciting and growing industry is another important step in our growth, and will provide us with needed revenue to further accelerate the implementation of our plans to fund other media and entertainment related projects in the near future," noted Shafran.
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
Internet Sweepstakes Kiosks offer 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, much more simple 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.
About 360 Entertainment & Productions
360 Entertainment & Productions is devoted to creating a multi-platform entertainment and 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 outlook is based on a strategy of growing and building business units through investments and acquisitions.
For further information go to the Company's website, www.360entertainmentandproductions.com
SAFE HARBOR PROVISION
Matters discussed in this press release may constitute forward-looking statements. These include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, other than statements of historical facts.
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 which are based upon assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, they are 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.
SOURCE VGTel, Inc. dba 360 Entertainment & Productions