Magnus Entertainment Group Ltd. to Become Official New Name for Veridigm Inc.
Â LOS ANGELES,CA (rushprnews) April 12, 2007 — Veridigm Inc. (BULLETIN BOARD: VRDG) , a Company focused on providing progressive gaming software and entertainment services to the international online gaming community (excluding the USA), today announced that “Magnus Entertainment Group Ltd.” will be the Company’s new official name.
Â A Certificate of Amendment will be filed upon the expiration of a mandatory twenty day holding period. The Company’s shares will also trade under this new name at that time.
Through the Company’s ability to provide niche ‘progressive’ gaming software and
entertainment services, Magnus Entertainment Group positions itself as a unique and innovative leader in the progressive gaming software sector. Not only can gaming operators power their websites using the Company’s trusted, credible and proven software, that generated more than $125 million in wagering in ’06, they can also enhance their platforms, add games and provide a wide selection of platinum entertainment services to keep their user base growing and wagering numbers consistently increasing. The Company is also aiming to provide leadership, innovation and trust to this large, multi-billion dollar industry.
The excitement surrounding ‘jackpots’ continues to sweep the globe with ‘progressive style’ games generating media and player attention like no other. Unlike the ‘Powerball, MegaMillions, or EuroMillions’ gaming models that have state-to-state or border-to-border restrictions, the ‘online progressive model’ that the Company provides offers few restrictions, no boundaries and is applied to the ‘international’ online gaming community excluding the USA.
Magnus Entertainment Group will operate through three wholly owned subsidiaries: Magnus Marketing Systems, Magnus Showbiz and Magnus Gaming Technologies Ltd., whose name has been recently changed from ‘Megaz Gaming Technologies’ to help drive branding efforts and increase competitive advantage during this expansion.
Magnus Marketing Systems will focus its efforts on both the international marketing and sub-licensing of the Company’s software platform that should enable the Company to dramatically increase the huge wagering amounts the software platform was able to generate in this past year.
Magnus Showbiz will focus on the delivery of exclusive and innovative entertainment products and services to the online global gaming community (excluding USA). Working with major sponsors and recognized brands, the Company will offer international online audiences privileged access to some of the world’s most popular and exclusive games, shows and international special events.
Magnus Gaming Technologies will be responsible for all efforts surrounding the maintenance, creation, development, enhancement and acquisitions of gaming related software as well as oversee sub-licensing to other parties. The Company feels strongly that with Magnus Gaming Technologies having already targeted game acquisitions, their creation of new games, their niche ability to provide progressive gaming and their enhancements to the current library of games, current wagering numbers will increase dramatically through the sub-licensing of this software platform.
The Company recently signed a new exclusive, royalty bearing software license that enables the Company the ability to be a leading, international provider of progressive gaming software. Included in the agreement is the right to sublicense, to use all patent rights, software, applicable trademarks and other intellectual property to which licensor has the rights. The licensed software brings with it a library of 48 games that include Table Games, Keno, Video Poker, 5 Reel Slots and 3 Reel slots. The software has been in use for more than 9 years and provided to the licensor the platform to generate over $125 Million in wagering last year alone. Revenues to the Company will commence May 1st, 2007.
ABOUT MAGNUS ENTERTAINMENT GROUP (BULLETIN BOARD: VRDG)
Magnus Entertainment Group is an OTC.BB Company focused on providing progressive gaming software and entertainment to the international online gaming community (outside the USA). With its exclusive, worldwide, royalty bearing license (excluding USA), the Company becomes a leading international provider of progressive gaming software.
Forward-Looking Statement: The statements in the press release that relate to the Company’s expectations with regard to the future impact on the Company’s results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
Source: Veridigm Inc.