SOURCE: Diamond I

March 16, 2006 09:14 ET

Diamond I, Real Video Gaming Form Hand-Held Video Gaming Strategic Alliance

Arrangement Marks Diamond I's First Move Into Hand-Held Gaming Equipment Market; WifiCasino GS™ to Be RVG's Equipment of Choice

LAS VEGAS, NV -- (MARKET WIRE) -- March 16, 2006 -- Diamond I, Inc. (OTC BB: DMOI), a developer of wireless gaming products, today announced that it has entered into a strategic alliance with Real Video Gaming, Inc. (RVG), a Silicon Valley-based technology company that provides live video feeds of gaming devices actually located in land-based casinos to mobile and online gaming patrons. Under the arrangement, RVG will utilize Diamond I's WifiCasino GS hand-held devices for use in delivering gaming content to RVG's customers.

"We are pleased to have reached this important equipment agreement with RVG," said David Loflin, Diamond I's CEO. "Our WifiCasino GS offers the security RVG needs and the ergonomic design features and a 6.5-inch screen that will appeal to their customers. This move into the equipment side of the business is a means by which we will be able to generate revenues, while we pursue our hand-held wireless gaming opportunities in Nevada and elsewhere," Mr. Loflin added.

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. To that end, in a letter of intent, The Palms Resort and Casino has agreed to continue to develop a working relationship relating to Diamond I's WifiCasino GS and, assuming Diamond I continues to meet certain standards, The Palms stated that it intends to pursue an opportunity with Diamond I. Diamond I continues to seek venues in which to establish its WifiCasino GS system, including other U.S. casinos and horse and dog racing facilities. Diamond I has had preliminary discussions with certain owners of cruise ships, certain owners of horse racing facilities in the United States and dog and horse racing facilities outside the United States.

About Real Video Gaming, Inc.

Real Video Gaming, Inc. (RVG) is a Silicon Valley based technology company that provides live video feeds of gaming devices, such as craps, slots, and roulette, actually located in land-based casinos to mobile and online gaming patrons. Dan Morgan, RVG's CEO, has invented and patented a technology that provides online gamblers the ability to place several bets in advance on multiple gaming devices located in different casinos throughout the world. Once bets are placed, gamblers can view the results live, or replay the actual games that were bet on at anytime in the future.

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, 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