SOURCE: SeanieMac

SeanieMac

August 14, 2013 07:30 ET

Compliance Systems (COPI) to Complete Name and Symbol Change on August 16th, Sees 300% Increase in 3rd Quarter Turnover vs 2nd Quarter

HUNTINGTON, NY--(Marketwired - Aug 14, 2013) - Compliance Systems Corp (OTCQB: COPI), doing business as SeanieMac Limited, the parent company of the all-Irish online sports & casino wagering website www.SeanieMac.com, today announced it has changed its name and symbol effective August 16th. The new name of the company is SeanieMac International Ltd and the new stock symbol is BETS.

Seaniemac International also offers the following updates:

We estimate that betting turnover in the 3rd quarter will be 300% higher than the turnover in the 2nd quarter.

Gross revenues, as a percentage of turnover was about 12% in the 2nd quarter.

Gross revenues, as a percentage of turnover in July was 20%. However, it is too early to tell if that trend will continue through the 3rd quarter.

Gross revenues increased 80 percent from June to July.

Since our last press release which disclosed 1000 registered users we have grown to 1700 registered users and have processed over 12,000 wagers.

Casino games were added in July and early turnover is averaging several thousand euros daily, which is not included in the numbers above.

SeanieMac plans to add two major additional platforms in 2013 including Bingo and Poker. As we get closer to a launch date we will update the public about the projected launch.

About SeanieMac
SeanieMac Limited is a development stage Irish company. It owns and operates www.SeanieMac.com, an online sports and casino wagering web-based platform serving gamblers directly under the brand name SeanieMac.com, and plans to launch wagering operations next month.

While the site offers wagering for many categories outside of sports, SeanieMac intends to capture the Irish market by initially focusing on the Gaelic Athletics Association (GAA) or Gaelic Games as well as Irish horse racing and soccer. Its mission is to offer a market-leading, user-friendly website for online gambling, including sports betting and casino gaming (traditional casino, live casino, poker, bingo and interactive skilled games). The Company does not market to U.S. residents and, hereby, specifically discourages them from attempting to access its wagering services.

The Irish gambling industry generated approximately $18.7 billion in 2011 revenue, with $1.7 billion of that generated online and growing rapidly at double digit rates. The Irish online gambling sector is projected to reach $3.2 billion in 2012.

As its national pastime, the Gaelic Games have long been popular in Ireland but they are gaining worldwide appeal, especially in areas with large communities of Irish emigrants and their descendants, such as the U.S., Canada, Australia and the United Kingdom, where many communities have their own teams and clubs participating in the Gaelic Leagues locally and internationally. To learn more about the GAA, see www.gaa.ie.

Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact Information

  • Investor Relations
    Chuck Arnold
    386.409.0200
    info@invrel.net

    At the Company
    Barry Brookstein
    Chief Executive Officer
    (386) 409-0200