SOURCE: Diamond I

July 20, 2006 11:25 ET

Diamond I Unveils GS2 Wireless Handheld Gaming Unit

GS2 Features Patent-Pending Biometric Security

LAS VEGAS, NV -- (MARKET WIRE) -- July 20, 2006 -- Diamond I, Inc. (OTCBB: DMOI), a developer of wireless gaming products, including the WifiCasino™ wireless hand-held gaming system, today unveiled its next-generation wireless handheld gaming unit, the GS2™. The GS2 is the hand-held component of the company's WifiCasino gaming system.

Diamond I believes that the GS2 is the first newly-designed wireless hand-held gaming device introduced since the Nevada Gaming Commission adopted final regulations implementing Nevada Law AB471, which authorizes the use of mobile communication devices for gaming in public areas in Nevada casinos.

The GS2 model introduced today features a 6-inch screen and is the largest GS2 model, while other models feature 4-inch and 3-inch screens. The design of all GS2 models include a portion of Diamond I's patent-pending biometric security technology, specifically its finger-print security technology. Diamond I has designed three GS2 model sizes to permit client-casinos to offer a GS2 hand-held unit that is compatible with their respective clienteles.

"Our GS2 is sleek and offers a great way to play Texas Hold 'em or video slots," said David Loflin, Diamond I's president and CEO. "The GS2 represents the future of gaming and will appeal to the video-game generation, the generation coming of age in the casinos," 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"™. 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, 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 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 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.

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
    225.341.4004