SOURCE: Atlantis Gaming Corporation

October 21, 2016 12:18 ET

Update: Atlantis Gaming Corporation (AGC) clarifies earlier press release of October 17, 2016, and responds to the National Indian Gaming Commission (NIGC) press release of October 20, 2016

LAS VEGAS, NV--(Marketwired - Oct 21, 2016) -  AGC did not intend to imply that the NIGC, nor the Department of Justice (DOJ), provided any approval of Daily Fantasy Sports (DFS) for AGC, or any other company. The NIGC provides opinions, and AGC secured a legal opinion as to its Casino Gateway Network, aka Tribal Gaming Network (Network).

The only reference to the legality of DFS comes from the interpretation of the Unlawful Internet Gaming Enforcement Act (UIGEA), passed by Congress and signed by President, George W. Bush in 2006.

Our reference to our legal platform refers to the above-referenced legal opinion relative to our Network, and said opinion being issued by the NIGC. That Opinion can be found in the "Legal Opinions" Section/ Game Classification Opinions (scroll down to Casino Gateway Network) of the NIGC Website:
http://www.nigc.gov/general-counsel/game-classification-opinions

As stated in that legal opinion, our Network is a Virtual Private Network (VPN) and acts like a Wide Area Progressive (WAP), featuring multiple vendors' casino games, with the capacity to link one Indian Casino to another, in 28 States on Indian Lands. Also, games on our Network are not considered to be Internet Gaming and the opinion indicates that they, therefore, do not violate the UIGEA.

AGC's Network only offers games tested by the leading gaming labs and has, thus far, operated multiple vendors' Social Games on two licensed Indian Casinos, one in Nevada and one in Louisiana. The Social Games are also operational in several Sports Bars within the US with plans for expansion.

In the future the Company plans a DFS product and an Initial Public Offering (IPO) for 2017. The DFS product will only be offered as a game on our legal platform in conformity with the rules and regulations of the states where DFS has been authorized and is regulated.

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