SOURCE: Diamond I, Inc.

June 12, 2007 08:30 ET

DMOI, Quest Entertainment Sign Final WifiCasino™ and GS2™ Marketing Agreement

LAS VEGAS, NV--(Marketwire - June 12, 2007) - Diamond I, Inc. (OTCBB: DMOI), a developer of wireless gaming products, including the GS2™ wireless hand-held gaming unit and the WifiCasino™ wireless gaming system, today announced that it had signed a definitive marketing agreement with Quest Entertainment, a Houston, Texas-based provider of superior-quality, fast-playing, innovative gaming devices. Under the agreement, DMOI and Quest are joining forces to bring DMOI's WifiCasino (and the GS2) to the gaming industry.

"Quest is excited about the possibilities with DMOI," said Cynthia Thompson, President and CEO of Quest Entertainment. "This agreement reaffirms our commitment to add additional products to our pipeline, enabling us to offer our customers a variety of options for their technology needs. Wireless technology is visible in every industry and we hope to be instrumental in bringing DMOI's products to the gaming floor."

Together, DMOI and Quest will complete the next-generation WifiCasino system, including the GS2, gain approval of, and licensing for, each in numerous jurisdictions, including the State of Nevada, and market the system in U.S. and international jurisdictions.

"Quest's established position as a licensed gaming equipment manufacturer is a perfect match for our exciting wireless gaming technology and reaffirms the stability of our company," said David Loflin, Diamond I's President and CEO. "We believe Quest will be an excellent partner who will allow us to bring value to our shareholders," added Mr. Loflin.

About Quest Entertainment

Quest Entertainment, Inc. is a technology driven gaming equipment manufacturer engaged in the design, development, manufacture, distribution, and sale of computerized gaming machines currently in certain licensed jurisdictions in the United States and Macau, China. The company is focused on providing a state of the art unified gaming platform for use in video slots, mechanical reels, video poker, and electronic multi-player games operating in either stand alone or downloadable format. For more information on the company, check out the website at www.questgaming.net.

About Diamond I, Inc. (www.wificasino.net)

"Voice-Print" and "Finger-Print" Technologies. DMOI owns the rights to patent-pending voice-recognition and fingerprint biometric security technologies. These security technologies will be incorporated into DMOI's WifiCasino GS wireless, hand-held gaming system.

DMOI 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"™, which includes the GS2™, the user-friendly wireless hand-held unit. 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, DMOI 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 DMOI's WifiCasino and, assuming DMOI continues to meet certain standards, The Palms stated that it intends to pursue an opportunity with DMOI. DMOI continues to seek venues in which to establish its WifiCasino system, including other U.S. casinos and horse and dog racing facilities. DMOI 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 contained herein 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 herein 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 DMOI'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 DMOI believes the statements are reasonable, it can give no assurance that such expectations will prove correct. DMOI 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