VGTel, Inc. Logo

October 08, 2013 13:00 ET

VGTel, Inc. Expands Funding of Sweepstakes Operators

NEW YORK, NY--(Marketwired - October 08, 2013) - VGTel, Inc. (OTCQB: VGTL) announced today that it has funded operators to open digital gaming parlors in several locations in New York State, as previously announced on July 13, 2013. In the last six weeks, the operators have opened several locations and additional location openings are underway. Additionally, the Company has agreed to similar funding arrangements with operators for their existing locations in New York State.

"Using this business model, VGTel, Inc. provides funding and receives revenue from operations without having day-to-day responsibilities or ownership," said Peter Shafran, Chief Executive Officer of VGTel, Inc. "We are looking to utilize this business model to aggressively expand into additional states, as well," said Shafran. The Company expects to see revenue from these operations to begin flowing into the Company during the fourth quarter of 2013.

About VGTel, Inc.
VGTel, Inc.
is devoted to creating a multi-platform company offering products and support in the digital gaming industries. In addition, VGTel is seeking other opportunities in the rapidly growing electronic gaming industry in those venues and states where allowed by regulation. Our business outlook focuses on a strategy of growing and building business units through investments and acquisitions. For further information, go to

Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.

Forward Looking Statements:
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in the Company's filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information