Pacific Lottery Corporation

Pacific Lottery Corporation

July 09, 2009 17:12 ET

Pacific Lottery Corporation Update

CALGARY, ALBERTA--(Marketwire - July 9, 2009) - Pacific Lottery Corporation (the "Corporation") (TSX VENTURE:LUK) (FRANKFURT:PCF) provides the following corporate update.

The Corporation is pleased to advise that gross lottery turnover from its Vietnamese operation has continued its steady month over month growth pattern since its launch last October. Preliminary results for the 2nd (second) Quarter ending June 30th 2009 indicate gross lottery turnover has continued its accelerated growth trend for the second consecutive quarter with a gross turnover increase of approximately 32% over the 1st (first) Quarter's 2009 announced results. This ongoing growth pattern is expected to continue to accelerate through the 3rd (third) Quarter as additional public awareness activities such as the live national TV lottery draw broadcasts are coupled with additional lottery distribution footprint expansion. In this regard, the Corporation is pleased to announce that due to significant public interest in retailer recruitment opportunities, the state owned lottery Corporation has advised that it will be expanding the current retailer network by 33% effective immediately and has requested that the Corporation provide an additional 120 proprietary point of sale terminals for immediate deployment. In response, the Corporation has agreed to speed up its operational expansion plans in Vietnam. The anticipated approval of mobile phone access coupled with the combination of these new efforts is expected to significantly enhance both the on-line lottery's public accessibility and ongoing top of mind awareness campaigns. The Corporation remains confident that these expected further increases in revenue generation will lead to fiscal 2009 being a transformational year.

The Corporation is also proud to announce a Strategic Cooperation Agreement has been signed with Bob Mobile AG of Germany to jointly exploit industry standard and lottery related mobile phone application opportunities. Bob Mobile AG is a global leader in mobile phone application technologies and offers many diverse products for its expanding base of mobile phone customers. The Corporation is excited to be working with Bob Mobile AG in its specific area of expertise and being able to access Bob Mobile's technology and proficiency to provide comprehensive one stop service to its current customer base in Vietnam as well as future targeted customers world wide.

Additionally, the Corporation recently completed a successful installation of the new Pick 2 and Pair Games. These proprietary games become the 6th and 7th games successfully installed and introduced since last October's launch of the Corporation's new online lottery technology. As expected, the Vietnamese State owned Lottery Corporation began selling these new proprietary online lottery games this month through its monopolistic retail network that exclusively uses comprehensive on-line lottery technology supplied by the Corporation under previously announced contract terms. These new games were jointly developed by the Corporation and the Vietnamese Lottery authorities. They are designed to specifically combat the So De (the illegal lottery), which officials estimate generates up to $ 2 billion US annually in illegal lottery activity. This is the first time in Vietnam that games similar to the So De are legally allowed to be offered for sale to the general Vietnamese public. The Corporation is pleased to continue assisting the Government of Vietnam in its ongoing efforts to combat illegal lottery activities.

About Pacific Lottery Corporation:

Pacific Lottery Corporation is engaged in the provision of comprehensive computerize on-line and mobile phone lottery technology and related professional services for delivery to a growing audience of international customers. Today, the Corporation exclusively leads the technical support activities for the only authorised State run on-line lottery program in Vietnam.

SEC 12g exemption 82-4832

This release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which could cause actual results, performance or achievements of the Company, or industry results to differ materially from those reflected in the forward-looking statements. Forward-looking statements are based on the current expectations, projections and opinions of the Company's management, and the Company undertakes no obligation to publicly release the results of any revisions to such forward-looking statements which may be made, for example to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Neither the Deutche Borse and or the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.

Contact Information

  • Pacific Lottery Corporation
    Jill L.E. Johnson
    (403) 266-8900
    (403) 266-8909 (FAX)
    Pacific Lottery Corporation
    480, 2710 17th Avenue S.E.
    Calgary, Alberta T2A 0P6