SOURCE: Diamond I, Inc.

September 20, 2005 07:00 ET

Diamond I Pushes Forward With Its U.K.-Based Online Gaming Initiative

Company Hopes to Capitalize on Optioned Company's Online Gaming Capabilities

LAS VEGAS, NV -- (MARKET WIRE) -- September 20, 2005 -- Diamond I, Inc. (OTC BB: DMOI), a developer of wireless gaming products, today announced that it is moving forward with its plans to enter the international online gaming software licensing business. Diamond I's plan includes establishing a U.K.-based online gaming software licensing company. In this regard, should Diamond I elect to exercise its option to acquire Touchdev Limited, a private U.K. company and the developer of internally derived and copyrighted gaming software products, Diamond I would be in a position to accelerate the launch date for its planned gaming software licensing activities.

"We are focused on pursuing all available gaming opportunities," said David Loflin, Diamond I's CEO. "Since the passage of Nevada Law AB471, which provides for wireless gaming in casino public areas, we have been diligently following the regulatory process, but we are not content. We believe the overseas online gaming software market to be accessible to us and view the opportunity as an exciting complement to our WifiCasino GS products," Mr. Loflin added.

Touchdev Limited, a private U.K. company, is the developer of an array of internally derived and copyrighted gaming software products, with wireless PDA and cellular-phone-based capabilities. Touchdev has created 12 different games, including Texas Hold'em Poker (touchpoker.com). Touchpoker.com is an Internet site where interested persons can currently play poker for entertainment purposes only. Diamond I it has obtained an option to acquire Touchdev Limited, pursuant to which Touchdev would be acquired by Diamond I for a combination of cash and stock.

About Diamond I, Inc.

Diamond I, Inc. is a development-stage company that develops wireless gaming products, including a hand-held Wi-Fi-based gaming system for on-premises use by casinos/resorts, known as "WifiCasino GS Concierge and Gaming System"™. The term "Wi-Fi" (wireless fidelity) refers to an industry standard for wireless equipment that meets published 802.11(x) standards. Wi-Fi equipment operates in unlicensed spectra, such as 2.4 and 5.8 Ghz.

With the passage of Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos, Diamond I seeks to secure a Las Vegas hotel/casino to serve as the demonstration site for its WifiCasino GS, in conjunction with its application for a gaming license in Nevada. Currently, Diamond I is in negotiations with nationally known Las Vegas casinos to serve as the demonstration facility for its system. Also, Diamond I is working to secure cruise ships on which to implement a WifiCasino GS system; Diamond I has had preliminary discussions with certain owners of cruise ships. Diamond I has also had preliminary discussions with certain owners of horse racing facilities in the United States and dog and horse racing facilities outside the United States, with respect to its establishing a WifiCasino GS system on such a facility.

Forward-Looking Statements

Certain statements in these interviews and news releases may constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance, or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements. Certain statements contained in the interviews are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining to development of Diamond I's products and services and markets for such products and services, its obtaining needed capital, the timing and level of customer orders, competitive products and service, changes in economic conditions and other risks and uncertainties. Although Diamond I believes the statements are reasonable, it can give no assurance that such expectations will prove correct. Diamond I cautions that any forward-looking statements contained herein are not a guarantee of future performance and that actual results may differ materially.

Contact Information

  • Contact:
    Diamond I, Inc., Baton Rouge
    David Loflin
    225-923-1034
    Email Contact