SOURCE: Elite Data Services, Inc.

Elite Data Services, Inc.

April 22, 2015 08:30 ET

Elite Data Services Finalizes Acquisition of Gaming Distribution License, Gaming Machines in Honduras; Deal Valued at $10,000,000

DALLAS, TX--(Marketwired - Apr 22, 2015) -  Elite Data Services, Inc. (OTCQB: DEAC) ("EDS" or "the Company") is pleased to announce that, per its recent EDGAR filing it has finalized the acquisition of El Mar Muerto Beauty Mineral, Sociedad Anonima, A Honduran Corporation with a gaming license to own and operate 320 slot machines for distribution across the bay island of Roatan and certain cities in the Honduran mainland.

EDS will furnish $10,000,000 for the asset on a schedule through March 31, 2021, with vested ownership immediately toward near-term revenue streams.

EDS CEO Charles Rimlinger comments: "I'd like to thank shareholders for their patience and support as we navigated this deal toward a successful close. I am thrilled to have our new asset ready to employ and, based on machines in similar territories, we are looking at an attractive profit per machine per day (PPD) in this initiative."

"To give shareholders an idea of the potential income here, we have access to 320 machines in various territories including Honduran mainland and the Roatan bay area. When all machines are in service even at a $150.00 per machine that would put revenue over $40,000 per day.

"If we are to earn even $150 PPD, we breakeven at 48 machines. We have access to 320 machines and will begin rollout toward what the Board agrees could result in a significant increase in shareholder value and restored investor confidence given the Company's capacity to monetize its new asset toward increase in revenues."

About Elite Data Services, Inc.

Elite Data Services Inc. is a technology company that implements their software applications to market and advertise assets in which they own and control. The company utilizes an advanced set of proprietary technologies and focuses on marketing and advertising solutions that generate revenue on existing businesses in sectors, including but not limited to, automotive, hospitality, and gaming. With an extensive technology portfolio enhanced with its content production resources and software development expertise, EDS is positioned to deliver an exciting new approach to the marketing and advertising model that replaces traditional client based contracts with secured asset value and increased revenues based on their proprietary technologies. Our marketing expertise has led us to explore expansion of our business into gaming on the island of Roatán, the largest of the bay islands of Honduras.

Forward-Looking Statements

Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks detailed in the Company's Form 10-K for the year ended December 31, 2013, and other subsequent Securities and Exchange Commission filings. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "expect", "potential", "project", "will", and similar expressions identify forward-looking statements. There is no guarantee that the Company will successfully enter into the agreements referenced in this release, nor if we do, that we will be successful in the implementation of this new business. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward looking statements, whether as a result of future events, new information, or otherwise.

Contact Information

  • Investor and Public Relations Contact
    Elite Data Services, Inc.
    Charles Rimlinger
    Chief Executive Officer
    (615) 905-4042
    info@edscompanies.com