SOURCE: Atlantis Internet Group Corporation
Tribal Gaming Network to Launch ATIG Into $30 Billion Online Gaming Market
LAS VEGAS, NV–(Marketwire – September 8, 2010) – Atlantis Internet Group Corp. (
There is $30 billion in Internet gaming revenue generated worldwide now, without the U.S. market. Analysts are quick to point out that before the U.S. Congress passed the 2006 Unlawful Internet Gaming Enforcement Act (UIGEA), two-thirds of the worldwide Internet gaming revenue came from the U.S. That means billions of Internet gaming revenue dollars within the U.S. market now remain untapped. While the UIGEA put an end to Internet gambling in the U.S., it provided certain exceptions for Indian Casinos and Intertribal Internet gaming and states that pass Intrastate Internet gaming legislation.
ATIG will now be the only poker network operating in more than one state at a time. This also allows tribes to aide their respective communities which have been hard hit by the sagging economy. “Our Indian version of the CGN, called the ‘Tribal Gaming Network’ (‘TGN’) offers an immediate and legal solution to Indian casinos nationwide, providing the largest online poker network in the U.S. This is a significant milestone for ATIG and Cake, and will become an immediate economical shot in the arm for Tribes and states facing deficits nationwide,” said Donald L. Bailey, CEO of ATIG.
There is a growing movement in the U.S. and Europe to relax the rules on Internet gambling so that taxes on online gaming might bolster revenue and reduce budget shortfalls. Last month the Financial Services Committee of the House of Representatives approved a Bill that would overturn the 2006 UIGEA law. Supporters say online gaming could yield as much as $42 billion in U.S. tax revenue over 10 years. ATIG’s CGN System is designed for traditional commercial casinos as well and can be easily implemented when, and if, pending state Intrastate Internet Gaming legislation is passed.
ATIG introduced its technology to the NIGC, the federal agency that co-regulates all Indian Casinos, and in September 2009 received a favorable opinion allowing it to operate its network in all Indian Casinos nationwide. The TGN System allows players to play on a private gaming network, i.e., “Wide Area Progressive” (WAP), Class III, Class II and online games on Indian lands. The NIGC Opinion went on to state that according to its Bulletin on the UIGEA, ATIG’s network works like a traditional WAP and, therefore, it is not considered as being illegal Internet Gaming.
About Atlantis Internet Group Corp. (http://www.AtlantisInternetGroup.com):
Utilizing an innovative development team and licensed gaming executives to oversee its state-of-the-art online gaming, slot machine and gaming network products, Atlantis Internet Group Corp. (“ATIG”) has bridged the gap between traditional gaming casinos and online gaming. ATIG is one of the first companies to interface with online games and player tracking systems found on traditional floor slot machines, and one of the only online gaming products used in Nevada and now the rest of the United States.
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the Company’s dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the Company. The Company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.