19 May 99
N E W S R E L E A S E
Chartwell's Licensee www.instacashcasino.com Goes Live with "CasinoCasino" Internet Gaming software.
Chartwell Technology Inc. (CWH-ASE) is an Internet based e-commerce, software technology and service company which specializes in online gaming software and video conferencing. Chartwell is pleased to announce that www.instacashcasino.com is its latest licensee to go live with its JAVA based, in-browser, non-downloadable Internet gaming software.
This customized, full service, Internet gaming system includes, twelve casino games, a state of the art Backend Administrative Utility with remote access, I.P. Tracking, E-Commerce software and technical support. The Licensees' customers are able to place wagers via a secure online financial transaction system that is customized for the Licensee anywhere in the world they choose.
Chartwell intends to aggressively market its turnkey Internet gaming technology worldwide. Chartwell's short-term goals:
All of Chartwell's licensees can be accessed through www.chartwelltechnology.com
- To have 24 licensees' under contract by the end of the year. As part of the licensing agreement the Company receives an initial licensing fee together with a percentage of its Licensees' revenues, which should considerably impact the revenues of Chartwell.
- To develop and market a JAVA based Sports Book that will compliment the CasinoCasino gaming software and form a part of the overall turnkey Internet Gaming Software Solution for Licensees.
- To add four new parlor games to the CasinoCasino suite of JAVA based non-downloadable games, namely Bingo, Pai Gow, Keno and Baccarat.
- To offer a Free Casino Game Site to develop and market an advertising business model for consumers and sponsors. Advertisers and Sponsors will have a catalog of products available to the customers. The customers can purchase these products with their winnings of CasinoCasino chips.
- Develop the CasinoCasino software suite of games in several major languages worldwide.
- Complete registration of Chartwell's shares with the United States Security Exchange Commission.
The market place is growing exponentially as reported by Deutsche Bank & Christiansen/Cummings Associates. The number of Adult Home Internet Users has grown from 46 million in 1997 to 121 million in 1999 and is expected to exceed 160 million by 2001. They also estimate that in 1997 there were less than one million Internet Gamblers and in 1999 they estimate that number to increase to 25.4 million. By the year 2001 they expect 43 million Internet Gamblers. Internet Gaming Revenues are expected to reach between US$811 million and US$3.9 billion in 1999.
For further information, please contact:
Darold H. Parken
President
877-261-6619 or 403-261-6619
dhp@chartwelltechnology.comDavid Bajwa
Investor Relations
877-669-4180 or 604-669-4180
info@chartwelltechnology.comThe Alberta Stock Exchange has neither approved nor disapproved the information contained herein.
For more information about Chartwell Technology Inc. please see www.chartwelltechnology.com/Stock.html