SOURCE: Global Networks Corp.

November 19, 2007 11:54 ET

Global Networks Corp. Poised to Acquire Industry Leading Technology & Existing Customer Base

First of Its Kind Emerging Growth Technology Now Being Implemented in Gaming Venues Throughout the World

LAS VEGAS, NV--(Marketwire - November 19, 2007) - Global Networks Corp. (PINKSHEETS: GBNW) is pleased to announce that it has entered into a letter of intent to acquire a proprietary technology suit and the associated existing revenue account contracts from one of the industry leaders in real-space Casino-based gaming technology, and gaming machines.

As casinos inevitably replace their current gaming machines with next generation technology, this acquisition will position Global Networks as a leading service provider in the emerging server-based gaming sector.

Shawn Balaghi, President of Global Networks Corp., commented, "This acquisition brings immediate profitability through the revenue stream from the existing contracts, and tremendous long-term growth potential through the purchase of a first of its kind, proprietary server-based gaming technology suit."

Mr. Balaghi continued, "Casino Gaming is an evolving two hundred and forty billion dollar industry now entering a global phase of significant technology change. This acquisition positions the company to become a leading service provider in the new economy of server-based gaming."

About Global Networks Corp.

Upon completion of this acquisition, Global Networks Corp. (PINKSHEETS: GBNW) will be an industry leader in server-based gaming software and kiosk products for the global real-space casino industry. The company's proprietary state-of-the-art technology allows operators the ability to better manage and deploy multi game terminals and other gaming hardware with significantly greater ease and speed. The result is not only increased revenue throughout the traditional casino or betting parlor floor, but also the ability to deploy a "Casino in a box" concept to a much wider array of venues. This emerging growth technology, now being implemented throughout the world, allows for real-time CRM (customer relationship management), customized deployment programs for a large number of popular casino games, and allows operators to capitalize on an expanded base of marketing options. The end result is increased profitability on a per square foot basis for casino operators, and a better gaming experience for their patrons.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Investor Contacts:
    Investor Relations
    604 773 0242