SOURCE: TrackBets International, Inc.
September 11, 2008 08:31 ET
TrackBets International Exploring Opportunities to Enter Premium Sports Collectibles Market
Company Plans to Enter $2.5 Billion Market
NEW YORK, NY--(Marketwire - September 11, 2008) - TrackBets International, Inc. (PINKSHEETS: TRKB) is pleased to announce that the Company is seeking acquisition
candidates in the growing premium sports collectibles and memorabilia
market. Such an acquisition would be the first step in expanding its
potential revenue streams beyond Brazilian wagering and simulcast, becoming
a first-rate diversified sports and entertainment corporation.
TrackBets is optimistic about the potential to derive immediate revenues
from an acquisition of a sports memorabilia company, as this would include
the opportunity to secure the exclusive rights to sell its properties under
the company's umbrella of related services. This would include online
sales, a customized Certificate of Authenticity system and exclusive sports
celebrity appearances for fans looking to meet and greet current and former
professional athletes for autographs and personalized memorabilia.
The sports memorabilia market is estimated to produce as much as $2.5
billion in sales per year. Most customers are collectors or hobbyists, and
others are enticed to the investment potential, necessitating the
authentication of the merchandise and trust in the memorabilia retailer.
"The retail sports collectible and memorabilia concept is an ideal
opportunity for TrackBets to cross-promote our future Brazilian gaming
services and facilities, as well as diversify into the broader and
congruent verticals within the sports and entertainment industry, here in
the Unites States. Sports memorabilia has been a rapidly growing industry
for the past decade and authenticity is crucial. An acquisition candidate
with existing inventories, strong retail and online sales as well as
distribution capabilities is ideal to improving our balance sheet for our
shareholders. We are particularly impressed with some of the companies we
have identified and plan to proceed with our due diligence in the near
future," stated John D. Samuel, President and CEO of TrackBets
TrackBets has most recently focused on developing partnerships with several
jockey clubs to create an exportable product for pari-mutuel wagering via
simulcast in Brazil and the international community online. The TrackBets
website will eventually include streaming information on races, wagering
and promotions, and its extensive research on the Brazilian pari-mutuel
racing industry and potentially thriving Brazilian wagering market. It
anticipates revenues from advertisements and links to additional wagering
websites, simulcasts and on-site racing venues.
About TrackBets International, Inc.:
TrackBets International is the only North American company operating in the
legalized gambling market in Brazil. TrackBets has successfully completed
significant milestones in its development and is primed to grow at a
substantial and sustainable rate with an infusion of new capital. The
Company has an existing infrastructure in Brazil and has thoroughly
researched the turf industry.
Safe Harbor Statement: Except for historical information, the matters set
forth herein, which are forward-looking statements, involve certain risks
and uncertainties that could cause actual results to differ. Potential
risks and uncertainties include, but are not limited to, perceived or
actual benefits from Track Bets International's planned operations, the
market acceptance and level of sales derived from its operations, the
competitive environment within the Brazilian turf industry, and the
successful technical and economic implementation of its operations.