Sungold and its wholly owned subsidiary Horsepower2 launches its Asian equal chance virtual horseracing game
VANCOUVER & HONG KONG ~ January 15, 2002 – Sungold Entertainment Corp. (OTCBB: SGGNF; Frankfurt: WKN 608164) and its wholly owned subsidiary Horsepower Broadcasting Network (HBN), announce today the launch in Asia of its proprietary Horsepower2 (HP2), an equal chance, virtual horseracing game. The initial campaign begins with long-term agreements through Internet industry leaders. Doubleclick and Sina.com will target the Asian language version of HP2 to the world-wide-web, with special emphasis on Southeast Asia. Additional Ligaz11 strategic marketing alliances are anticipated in the short term for the Asia Pacific region.
Awarded the “International Internet Gaming Innovator” for 2001 at the fifth Annual Symposium on Internet Gambling held at the Shelbourne Hotel in Dublin, Ireland, HBN is accelerating its global marketing campaign aimed at making the HP2 Quick6™ the largest jackpot pool of its kind in the wagering world.
HP2 is a random virtual horserace run every 90 seconds with a real-time, online, common pari-mutuel pool. It may be played from a computer anywhere, anytime, with players wagering for a minimum of USD$2, with a potential to win million dollar plus jackpots. Quick6TM jackpot is guaranteed to be a minimum of one million dollars. HP2 can be accessed on the site www.horsepower2.com.
HBN has a permanent gaming license from the Kahnawake Gaming Commission. The Kahnawake Gaming Commission, with licensees from around the world, operating on Mohawk Territory at Kahnawake, Quebec, has become a recognized global leader in the licensing and regulating of online wagering operators.
“When I was approached by Sungold CEO Kim Hart, I was so convinced that this is the most exciting new game to hit the Internet that I resigned as President of Easybets to take on the challenge of marketing this new product. My judgment has been supported by
HP2’s winning the “International Internet Gaming Innovator” prize”, stated Alan Weinrib, Director of Marketing for Sungold Entertainment Corp.
Mr. Weinrib successfully drove annual revenues from 0 to US$120 million during his three years as President of Easybets. Growth is currently strong in the Internet gaming industry, with worldwide revenues projected to grow from $2 billion in 2001 to $3 billion in 2002 (Bear Stearns, January 2000). Gaming analyst Sebastian Sinclair has projected that Internet gaming will be a $6.3 billion industry by the year 2003.