LOS ANGELES, June 9 /PRNewswire-FirstCall/ -- Carnegie Cooke & Company, Inc. , an authorized provider of gaming services in Brazil, announced today that it had signed a three-year contract with Grupo Caliente of Mexico, replacing the existing one-year agreement. The new pact will renew automatically.
Under that agreement, Carnegie is sole distributor in Brazil of Caliente's international racing simulcasts. That allows Carnegie to show real-time telecasts of Brazilian and foreign horse races at jockey clubs (race tracks) and off-track betting parlors, making it possible for patrons of those facilities to wager on a number of races.
Among Carnegie Cooke's recent announcements: * The filing of an application for a casino-gaming license in Brazil. * The planned opening of an off-track-betting facility in Niteroi, an island city of 450,000 residents adjacent to Rio de Janeiro. It will be housed in a 10,000-square-foot building on which Carnegie has taken a five-year lease, with an option to buy. The opening was made possible under an agreement last December with the Jockey Club Ipiranga in Mage, a significant tourist center close to Rio. It allows Carnegie to open OTBs throughout the state of Rio de Janeiro. * An agreement with the Jockey Club Parana in Curitiba, giving Carnegie the right to open a race book at the club's track and off-track- betting parlors throughout the state of Parana. The state is at the center of the bustling South Cone Market, an economic-development area created by Brazil, Argentina, Paraguay and Uruguay. About Grupo Caliente
Using its state-of-the-art technology, the 85-year-old Grupo Caliente provides its international clientele with a wide range of products and services. Among them are real-time transmissions of horse and greyhound racing and jai alai games; coverage of a plethora of sports events, from the Super Bowl and Stanley Cup to Wimbledon and the Olympics, and provision of sports betting systems and services.
About Carnegie Cooke & Company, Inc.
Carnegie Cooke, which has its headquarters in Las Vegas, became a public company in 2000. Its business plan, now being implemented, is to generate profitable revenues by: (1) mechanizing wagering at Brazilian racetracks, (2) operating off-track betting parlors (OTBs), (3) providing international simulcast racing at tracks and OTBs, and (4) placing virtual-reality gaming machines in these locations and other highly-trafficked sites throughout Brazil.
Carnegie owns the Jockey Club El Dorado in Porto Alegre, Rio Grande do Sul, and is mechanizing the wagering system at its track and at other Brazilian clubs' tracks. Its exclusive agreement with Caliente makes it the only company capable of providing simulcast transmission of international races throughout Brazil. Carnegie is in the process of placing its virtual- reality machines in key locations.
Contact: Jay Goldberg, CEO of Carnegie Cooke, +1-800-262-2331, or Sal Nuccio of Nuccio Associates, LLC, +1-914-961-8686, or fax, +1-914-961-1811, NuccioAssoc@optonline.net.
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, the expenses associated with implementing the Company's planned gaming operations, the potential shortfall on actual estimates, the possible failure of the Company to establish a presence in the highly competitive environment within the Brazilian and South American gaming industry, the necessity that the Company's products achieve market acceptance, and the Company's ability to successfully implement all of the technical and economic aspects of its proposed operations. Carnegie Cooke & Company, Inc.
CONTACT: Jay Goldberg, CEO of Carnegie Cooke & Company, Inc.,+1-800-262-2331, or Sal Nuccio of Nuccio Associates, LLC, +1-914-961-8686, orfax, +1-914-961-1811, NuccioAssoc@optonline.net, for Carnegie Cooke & Company,Inc.
