SOURCE: TrackBets International, Inc.

June 09, 2008 08:30 ET

TrackBets International, Inc. Aggressively Seeking to Expand Operations in Brazil

NEW YORK, NY--(Marketwire - June 9, 2008) - TrackBets International, Inc. (PINKSHEETS: TRKB) is pleased to announce that the Company is intensifying its efforts to expand its horseracing simulcasts to new facilities within Brazil. It is also taking the necessary steps to expand its product offering to include quarter horse racing.

The Company previously had simulcast races in four facilities within the State of Rio De Janeiro and intends to relocate three facilities by the 4th quarter of this year, projecting 30 locations over the next three years. The Company is also in direct negotiations with the Ministry of Agriculture and the premier national Jockey Clubs to export Brazilian racing content internationally. In 2006, horseracing wagers in Brazil amounted to approximately $128,000,000. Last year, TrackBets International generated over $500,000 in gross wagering revenues on international and domestic simulcast races in Brazil.

"Interest in pari-mutuel horseracing has increased significantly, and TrackBets International strives to be at the forefront of that wave of popularity. We are in the process of acquiring new contracts with additional organizations throughout Brazil, and we have the infrastructure and the industry connections in place to capitalize on the demand for quality Brazilian horseracing content," stated John D. Samuel, CEO and President of TrackBets International, Inc.

TrackBets International has conducted extensive research into the Brazilian equestrian sports industry and the subsequent business opportunities related to that market. The Company has contracted a marketing research and public relations firm to further capitalize on the market for horseracing in Brazil.

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 TrackBets 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.

Contact Information

  • Contact:
    For more information, please visit:
    www.track-bets.com
    or call
    Investor Relations
    866-THE-APPL(E)