Shares outstanding 29.12M Latest press release June 29. Press Release Source: Phoenix Interests, Inc.
Phoenix Interests' Wagering Site, BetBarn66.com, Expects Best-Ever Results in June Wednesday June 29, 8:35 am ET Daily and Monthly Wagering Totals Exceed Aggressive Targets
JEFFERSONVILLE, Ind.--(BUSINESS WIRE)--June 29, 2005--Phoenix Interests, Inc. (OTCBB:PHXI - News) announced today that BetBarn66.com, the online wagering site operated by its wholly owned subsidiary Online Enterprises, Inc., expected to generate another record month of wagering activity. June's results, during which the daily and total handle is expected to be the highest in the site's history, followed a significant rise in handle for May, when monthly totals exceeded all prior months combined. At its current rate, BetBarn66.com is on pace for annualized handle of just under $1.5 million. With continued growth and success in attracting new account holders, the handle could exceed $3.5 million by year end. Total current accounts also are well ahead of the previously stated goal of 3,000 account holders by June, 2007.
The total handle in June is expected to exceed May, despite the month of June being shorter by one day. May also had an additional weekend day, and wagering is usually higher on weekends. In addition, the Belmont Stakes, the only Triple Crown race in June, was less significant in 2005, with no horse being in contention for the Triple Crown.
Much of the site's improved performance was achieved in midweek handle, with the daily handle average expected to increase more than 11% over May levels. The site worked aggressively to increase handle through daily emails and by providing selections of individual races and race cards at tracks more attractive to regular bettors. Jim D. Tilton, Jr., Chairman, CEO and President of Phoenix Interests, said, "We were able to identify opportunities for our customers that gave them good wagering value. We then suggested wagering strategies and selections to encourage their play. By doing so, we were able to see dramatic increases midweek, and with no measurable cost to the site."
Overall, the site combined radio, email, and an expanded direct-mail campaign to encourage potential and existing customers to bet. Tilton added: "Direct mail, while time consuming and more costly than email, has proved useful to us in not only increasing play, but also in increased activation by those who signed up for accounts but did not activate them. Direct mail serves to reinforce the message delivered by email and gets through to those who do not actively use their email accounts."
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.
-------------------------------------------------------------------------------- Contact: CeoCast, Inc. Ed Lewis, 212-732-4300
-------------------------------------------------------------------------------- Source: Phoenix Interests, Inc.
Posts: 539 | From: BIG D | Registered: Apr 2005
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I need to tell all that my previous post of outstanding shares is obviously not right. It is apparently much more than what I previously posted. Smallcapcenter.com is where my previous info came from. Bloomberg shows outstanding shares at 92 million with float of 91 million. I don't believe that either. It is obviously much higher since volume was over 134,000,000. I think there is still plenty of room for a good momentum play based on historic prices. Could be a fun ride.
Posts: 539 | From: BIG D | Registered: Apr 2005
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