SOURCE: Elite Data Services, Inc.

Elite Data Services, Inc.

April 07, 2015 08:30 ET

Elite Data Services Hits Negotiation Jackpot, Restructures Deal With Gaming Distributor License

DALLAS, TX--(Marketwired - Apr 7, 2015) - Elite Data Services, Inc. (OTCQB: DEAC) ("EDS" or "the Company") announces today that its recently secured financing has been deposited in escrow for closing on its final negotiations to secure a Distributor license included with the Gaming license, which will include more locations available to a wider audience, including both Honduran citizens and tourists alike. The Company's Board of Directors are finalizing review in conjunction with preparing a conservative projected revenue estimate based on the Company's placement goals as permitted under the license.

EDS CEO Charles Rimlinger comments: "Our expectations have been exceeded by the new opportunity here. With secured financing, we have successfully renegotiated our license to include gaming distribution for the island of Roatán in addition to distribution rights in the Honduras mainland, allowing us to access revenue streams suited to a wider distribution in an expedited time frame."

"This is a very exciting time for the Company and its shareholders. It's been a long road to reach a point where we can effectively align our overall business model toward long-term growth in the gaming industry. The finalization of the gaming distributor license, albeit significant, is the beginning of this sector's development. I am confident that this move, along with the revenue streams it is capable of delivering, is the beginning of a lucrative future for the Company and its shareholders."

A conservative projected estimate is being prepared based on the Company's strategic placement program as permitted under such license. EDS expects to have acquired the license in the coming days after the Board of Directors have completed its final review and will announce accordingly.

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, 2015, 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