November 4, 2005 - 5:15 PM EST PHXI 0.0003 -0.0001
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Phoenix Interests' Account Wagering Site, BetBarn66.com, Has Big Breeders Cup Day, Setting Site Record for Largest Daily Handle; Registers 60% Increase in Handle in October Phoenix Interests, Inc. (OTCBB: PHXI) announced today that on Breeders' Cup Day, October 29, 2005, BetBarn66.com, the wagering site of Phoenix Interests' wholly owned subsidiary Online Enterprises, Inc., set a single-day record for total wagering handle, surpassing its totals for the 2005 Kentucky Derby. The site's total handle for October 2005 was 60% greater than the handle for the previous month.
The Breeders' Cup, the single-richest day of racing in the world, offered an exciting eight-race program featuring top horses. Beforehand, BetBarn66.com employed aggressive radio and email campaigns, combined with its "Guaranteed Ticket" promotion, to add new accounts and drive handle. These efforts resulted in substantial new account sign ups and increase in handle leading up to the Breeders' Cup.
While the Breeders' Cup races helped to create increased excitement and awareness of the racing and wagering opportunities, Phoenix Interests was extremely pleased that wagering for the day was extremely strong on all available tracks. The Breeders' Cup races made up 62% of the total handle for the day, with the remaining 38% coming from other tracks. The site's previous largest daily handle came on the day of the Kentucky Derby Day, when 91% of the day's handle came from the Churchill Downs card. Additionally, the site saw continued strong results in the days following the Breeders' Cup, attesting to the strength of the site's marketing campaign and its efforts to build long-term brand identity, as well as its ability to deliver racing and wagering product to a wide range of consumers.
Jim Tilton, CEO stated: "We had extremely high expectations for the Breeders' Cup, and our performance exceeded even our most optimistic projections. The wagering handle we saw leading up to the Breeders' Cup, on the other tracks available that day, and in the following days to close out the month has been extremely encouraging. We are expecting a strong finish to 2005, with even better results ahead in 2006."
All account wagering activity on www.BetBarn66.com is handled by AmericaTab, Ltd., a multi-jurisdictional simulcasting and interactive-wagering totalizator hub licensed by the State of Oregon. BetBarn66.com is a member of the AmericaTab affiliate system.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as "believes," "soon," "anticipates," "plans," or "expects," and other statements which are not historical facts contained in this release are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements. Reference is made to the Phoenix Interests' filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.
Phoenix Interests Inc., Jeffersonville Jim Tilton, 502-584-4434
Source: Business Wire (November 4, 2005 - 5:15 PM EST)
quote:Originally posted by Upside: Keep an eye on this one is right. Their o/s is roughly a billion and they just announced a 1 for 50 reverse. I wouldn't touch it.
a ratio of one share for up to 50 shares of common stock outstanding, with the exact ratio to be determined by our board of directors at its discretion, and (2) amend our articles of incorporation to increase from 980 million to five billion the number of shares of common stock we are authorized to issue.
OK - so they're going to decrease OS to about 18 million, yet increase authorized shares to 5 billion to "We anticipate that we would also issue some authorized but unissued shares to raise capital to fund our operations, but we have no agreement or understanding with any person regarding any such issuance.""
-------------------- Do you know what "nemesis" means? A righteous infliction of retribution manifested by an appropriate agent. Personified in this case by an 'orrible 'unt... me. -Brick Top
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