777 Sports Entertainment Corp.
Pink Sheets : SVNP

July 25, 2005 09:30 ET

777 Sports Entertainment Corp. Announces Completion of Integration

SAN JOSE, Costa Rica--(CCNMatthews - Jul 25, 2005) -

Mr. James Cheung, President of 777 Sports Entertainment Corp. (Pink Sheets:SVNP), a Nevada corporation trading on the NQB Pink Sheets under the symbol "SVNP", is pleased to announce that 777 Sports Entertainment Limited, operating as a licensee of the Chimera 2 suite of online and wireless gaming platforms, has advised that integration of the "777" website with the Chimera utilities has been completed and has been launched in a play for fun mode at www.777betz.com. In addition to the Chimera 2 suite of casino and sportsbook products, "777" will offer multi-table card games including Texas Hold'em, Omaha, 7 Card Stud, Guts, Chinese Poker, Big 2 and Pan. These products are in the final stages of testing. A Mobile Gaming Platform is also in the final stages of testing and these components are both scheduled to be launched in late August 2005. A full range of sportsbook coverage including thoroughbred horse racing is now available. The company anticipates that deposits from clients who wish to sign up for membership will be accepted August 1, 2005.

"777" President James Po Ho Cheung stated, "After the decision to enter the internet casino industry was made in 2004, we looked for qualified service providers and after several software reviews, the Chimera application and platforms combined with their administrative system, seemed to be made exclusively for '777.' In January 2005 we commenced discussions and in March 2005 the company website and business platforms were commenced. Since that time we have worked very closely with the Chimera development team and our branded product has now been used successfully in beta tests. The initial payments for the license of the software and applications has been completed and we will be completing on a second financing in July 2005, which funds will facilitate the launch of the business site and provide working capital until operations increase to the point where overheads are covered. With the completion of the Mobile Gaming Platform 777, will be able to offer a wide variety of gaming options which should be eagerly accepted by all levels of users."

About 777 Sports Entertainment Corp.

777 Sports Entertainment Corp. is a Nevada company which has entered into an agreement to acquire up to a 60% interest in 777 Sports Entertainment Limited, a United Kingdom company, which holds a license to operate an internet casino and sportsbook using the Chimera 2 suite of products, platforms and applications. The licensed technology includes a management reporting system. By funding the first trenche of capital, 777 Sports Entertainment Corp. has now earned a 49% interest in 777 Sports Entertainment Limited and in March 2005, Mr. James Cheung was appointed President & C.E.O. of both companies. Internet Casino operations will be based in Costa Rica and all operations are contracted to an experienced I-gaming service company. The 777 branded web site offers a suite of online products, including casino, sportsbook, and pari-mutuel betting. In addition, the company utilizes a state-of-the-art complete back-office management system that operates the entire e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform. Affiliate partnerships will be available to interested parties commencing September 2005.

A Corporate Web site is in the process of being completed and is expected to be on line in late August 2005.

The Company invites all interested parties to log on to 777betz.com and to try the user friendly applications in a play for fun mode.

For further information please contact James Cheung at james@777betz.com.

The above statements in regard to "777" which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including "777"'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date.

It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes.

Contact Information

  • 777 Sports Entertainment Corp.
    James Cheung, 604-258-0008