In its goal to implement its business plan as identified in the recently filed 10Q Kenilworth has “been granted final approval to commence real time, live in-progress casino table game broadcasts (”Roulabette(R)”) by the Board of Directors of the Philippines Amusement and Gaming Corporation (”PAGCOR”). “PR Newswire reported the details of this event are found in italics below and were released on July 12, 2oo6.
Kenilworth Systems Corporation (”Kenilworth”) announced today that it has been granted final approval to commence real time, live in-progress casino table game broadcasts (”Roulabette(R)”) by the Board of Directors of the Philippines Amusement and Gaming Corporation (”PAGCOR”).
The ten (10) year agreement provides for fixed monthly payments and other guarantees by Kenilworth, agreed upon in the “Letter of Intent” dated April 27, 2006. All operating costs for the live game broadcasts are borne by Kenilworth. The initial broadcast will emanate from the new Hyatt Hotel and Casino in Manila in early 2007 with tests starting later this year.
Herbert Lindo, Chairman and Chief Executive Officer, stated, “We now expect other casino operators throughout the industrialized world to follow PAGCOR’s lead.” He confirmed that, “Kenilworth has statistical data that Roulabette(R) may become a $500 billion net win market from wagering in five (5) years, which will be shared by participating casinos, governments and other entities. There are 430 million television sets in households, bars, restaurants, hotel and resort rooms, slot parlors for potential Roulabette(R) wagering. Roulabette(R) is a natural progression to virtual, make believe casinos and watching Poker Tournament play for entertainment.”
With the patented Roulabette(R) System, the actual wagering takes place at the receiving television set managed by the microprocessor installed in the set-top boxes (both cable and satellite) or as an attachment to the TV set. It is a one-way transmission requiring only the consent of the receiving jurisdictions. Roulabette(R) can be managed to prevent the under-aged from participating and controlling compulsive gamblers. Video lottery terminals and regular slot machines will offer Roulabette(R) wagering in combination with slot play, for an exciting change of pace.
Kenilworth’s Board of Directors formally ratified the terms of the Kenilworth/PAGCOR Agreements at the meeting, during which the Directors elected Edward Vietmeier as a new and seventh member to the Board.
The Kenilworth Systems, Inc. business strategy can be found in its 10Q filed September 8, 2006.
Stay tuned for a look at the Kenilworth Systems, Inc. Explanation of their Patented and Patent Pending Wagering Devices.
Source:
Kenilworth Systems Corporation
Herbert Lindo – President and CEO
Christopher Jenkins, Investor Relations of Kenilworth SystemsCorp.
Roulabette@aol.com
185 Willis Avenue
Suite #4
Mineola, NY 11501
Phone: (516) 741-1352
Source:
PR Newswire
Sources:
10Q filed by Kenilworth Systems, Inc. on September 8, 2006,
Kenilworth Systems, Inc. Website
PR Newswire
Forward Looking Statements: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-Q and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Kenilworth undertakes no obligation to update such statements.
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