ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

LUK Pacific Lottery Corp Com

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
Pacific Lottery Corp Com TSXV:LUK TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Pacific Lottery Receives Full Vietnamese Government Approval for Its Mobile Phone Lottery Technology

29/09/2009 2:30am

Marketwired Canada


Pacific Lottery Corporation ("PLC") (TSX VENTURE:LUK) (FRANKFURT:PCF) is pleased
to announce that the Government of Vietnam has issued all final approvals
required for the introduction of mobile phone purchasing of authorised lottery
games, exclusively using the Corporation's proprietary Mobile Phone Lottery
Technology Platform ("MobiLot"). The receipt of the Ministry of Finance's
approval was the last regulatory hurdle and clears the way for the immediate
commercial use of the Corporation's new MobiLot technology by the state run
on-line Lottery program in Vietnam. 


This new mobile phone application developed and solely controlled by the
Corporation, will allow the Vietnamese general public direct access to
purchasing lottery products from the state run on-line lottery program via the
convenience of their individual mobile phones. The approval of mobile phone
purchases of lottery products is a Vietnamese first and also heralds a major
global shift in the current delivery methods used by national lotteries. No
longer will Vietnamese players be limited to purchasing their lottery products
only from land based retailers using traditional lottery terminal distribution
channels. This exclusive approval for the Corporation is a result of the
government's appreciation and acceptance of PLC's proven concept in connection
with its previously launched retailer based on-line lottery program in October
2008. 


PLC will immediately begin the implementation and integration process with all
Vietnamese state owned mobile phone carriers for this new, exciting and cutting
edge service, which is expected to be launched within the next 100 days. Recent
estimates suggest that the country has up to 40 million registered mobile phones
users and most estimates expect this market to grow to 55 million by next year.
This high mobile phone adoption rate supports the Corporation's expectation that
this new mobile phone distribution channel will result in significant expansion
of the lottery player's accessibility to the state run on-line lottery program,
thereby exponentially increasing its sales power and accompanying lottery sales
performance. 


This major milestone development within the global lottery industry helps thrust
PLC to the forefront of the next generation of technological advances. As mobile
phone business applications become more generally accepted and widely used, the
Corporation believes this historic application for general public purchasing of
lottery products directly via their mobile devices, will reverberate throughout
the global lottery industry.


PLC has agreed to supply its MobiLot technology to the Vietnamese lottery
authority under the same terms and conditions of its existing and exclusive ten
(10) year on-line lottery technology supply and services Agreement, which runs
until 2018. The Corporation will receive gross compensation of 8 % on all
lottery sales processed through this new mobile phone application. The current
Agreement also covers all necessary operational details required for the
seamless integration and installation of PLC's MobiLot technology within its
existing proprietary Optimal Lottery Integration System ("OLIS"), which
exclusively powers the Vietnamese On-line lottery program. Furthermore, the
Corporation has all necessary resources required to complete the full
integration process of this landmark event in the Corporation's development. 


Vietnam is a country of approximately 90 million people with a fast growing
adoption rate for new mobile phone technologies. The national lottery market in
Vietnam has annual revenues of over 1.3 Billion US-Dollars. The unauthorised So
De market has been estimated to have a turnover of approximately 3.5 Billion
US-Dollars, thereby establishing the total turnover potential of the Vietnamese
lottery market at almost 5.0 Billion US-Dollars annually. Recently, the
Corporation was advised by one of the leading Vietnamese mobile phone carriers
that its largest value added service, worth approximately 200,000 US-Dollars per
day in revenues, is generated by customers paying a small service fee for the
automatic downloading to their mobile devices of the daily results of the Hanoi
Lottery draw. 


With the foregoing in mind and in conjunction with the daily live, prime time
broadcasting of the lottery draws on Hanoi TV, one of the top rated TV stations
watched nationally, throughout Vietnam, both the Corporation and the Government
lottery authorities expect the use of direct mobile phone lottery purchasing to
significantly increase the online lottery's market share by providing Vietnamese
lottery players with greater ease of access and convenience for their everyday
lottery purchases.


About Pacific Lottery Corporation:

Pacific Lottery Corporation is engaged in the provision of comprehensive
computerize on-line and mobile phone lottery technology and related professional
services for delivery to a growing audience of international customers. Today,
the Corporation exclusively leads the technical support activities for the only
authorised State run on-line lottery program in Vietnam.


SEC 12g exemption 82-4832

This release contains forward-looking statements within the meaning of the
Private Securities Litigation Act of 1995. Investors are cautioned that such
forward-looking statements involve risk and uncertainties, which could cause
actual results, performance or achievements of the Company, or industry results
to differ materially from those reflected in the forward-looking statements.
Forward-looking statements are based on the current expectations, projections
and opinions of the Company's management, and the Company undertakes no
obligation to publicly release the results of any revisions to such
forward-looking statements which may be made, for example to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.


1 Year Pacific Lottery Corp Com Chart

1 Year Pacific Lottery Corp Com Chart

1 Month Pacific Lottery Corp Com Chart

1 Month Pacific Lottery Corp Com Chart