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Phoenix Interests Launches New Internet Site; Barn66.Com to Become Leading Horse Racing Portal October 19, 2004 08:01:00 AM ET
Phoenix Interests PHXI announced today that it will launch Barn66.com the week of October 25, 2004. Barn66 is a comprehensive Internet portal dedicated to the horse racing industry. It is owned by Phoenix Interests' wholly owned subsidiary Online Enterprises, Inc. The new portal will combine pari-mutuel account wagering on race tracks across the country with what Phoenix Interests expect will become the industry's top listing service offering owners of thoroughbred horses the ability sell their horses and related items. The site will offer users customizable news, Instant Messaging, and video race replays.
"The Internet has changed the way many companies do business," said Jim Tilton, Chief Executive Officer of Phoenix Interests. "As a result of simulcasting and account wagering, the thoroughbred industry has experienced a resurgence. Soon, we will be able to offer our customers access to many of the leading racetracks in the country in their offices and from the comfort of their living rooms. Horse owners will also now be able to buy and sell horses very efficiently via our site. We believe Barn66.com has the potential to change the way the horse racing industry does business."
Pari-mutuel wagering in the United States totaled over $15 billion last year, of which an estimated $2 billion was conducted via account wagering and online. Over $1 billion in thoroughbreds were sold last year at public auctions.
Phoenix Interests' core historical business was "pinhooking," namely acquiring undervalued yearling thoroughbred horses and reselling them as two-year-olds in training or as racing prospects. The company is seeking to expand within the thoroughbred industry beyond pinhooking activities and is also exploring opportunities in gaming, entertainment, and other sectors. Consistent with this expanded focus, in January 2004 Phoenix Interests elected to be regulated as a business development holding company and in March 2004 changed its name to its current name.
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 Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.
Phoenix Interests Subsidiary Obtains Approval To Offer Online Account Wagering Wednesday December 1, 1:52 pm ET
JEFFERSONVILLE, Ind.--(BUSINESS WIRE)--Dec. 1, 2004--Phoenix Interests (OTCBB:PHXI - News) announced today that its wholly owned subsidiary, Online Enterprises, Inc., has received approval from the Oregon Racing Commission to begin taking account wagers. As a result of this approval, Phoenix Interests will be able to offer on-line pari-mutuel wagering through Online Enterprise's website www.betbarn66.com. Phoenix Interests expects to launch this website in early December 2004. All account wagering activity will be handled by America Tab Ltd., an account-wagering company. America Tab Ltd. is a multi-jurisdictional simulcasting and interactive-wagering totalizator hub licensed by the State of Oregon Since its inception in 2001, America Tab has increased the annual amount of wagers it has handled from $19.3 million in 2001 to $102.4 million in 2003. It estimates that in the first six months of 2004 it has handled $59.4 million in wagers, a 23% increase from the same period one year ago. Online Enterprises will receive a fee for each wager placed with America Tab through its website. Pari-mutuel wagering in the United States totaled over $15 billion last year, of which an estimated $2 billion was conducted via account wagering and online.
Phoenix Interests' core historical business was "pinhooking," namely acquiring undervalued yearling thoroughbred horses and reselling them as two-year-olds in training or as racing prospects. The company is seeking to expand within the thoroughbred industry beyond pinhooking activities and is also exploring opportunities in gaming, entertainment, and other sectors. Consistent with this expanded focus, in January 2004 Phoenix Interests elected to be regulated as a business development holding company and in March 2004 changed its name to its current name.
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 Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.
-------------------------------------------------------------------------------- Contact: CEOcast, Inc. Ed Lewis, 212-732-4300
Phoenix Interests Subsidiary Now Offers Account Wagering on Magna Entertainment Tracks
Business Editors / Gambling Writers / Horse Racing Writers
JEFFERSONVILLE, Ind.--(BUSINESS WIRE)--Dec. 29, 2004-- Phoenix Interests, Inc. (OTCBB:PHXI) announced today that its wholly owned subsidiary, Online Enterprises, Inc., can immediately begin offering account wagering on Magna Entertainment Corp.(MEC) tracks through its Internet site, www.*******.com, accessible from www.*****.com. This covers all MEC tracks, including Santa Anita, which opened on Sunday. The deal with MEC is for 2005 and covers all of its thoroughbred and harness racing. Players will have access to all the races that are presented by these tracks. That covers all the derby prep races leading up to the Triple Crown, including the Preakness, meaning all three legs of the greatest thoroughbred racing series will be available. The 85-day Santa Anita Meet continues through April 18 and is highlighted by the $1-million Santa Anita Handicap on March 5, the $750,000 Santa Anita Derby on April 9, and the $3.6 Sunshine Millions Day on January 29. Other MEC racetracks added to www.*****.com are Golden Gate Fields, Pimlico, and Portland Meadows. The Meadows represent their standardbred or harness racing offering. These MEC tracks are currently holding their fall and winter meets. 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 Company's filings with the Securities and Exchange Commission for a more complete discussion of such risks and uncertainties.
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