TORONTO, April 22 /PRNewswire-FirstCall/ -- Racino Royale, Inc. (OTCBB: RCNR), a company focused on identifying and developing opportunities in the gaming industry, is pleased to announce that its wholly-owned subsidiary, InterAmerican Gaming Corp. ("InterAmerican") has received licensing approval from the Peruvian Ministry of Foreign Trade and Tourism ("MINCETUR") to operate a gaming enterprise in that country.
IAG-PERU S.A.C, a wholly owned subsidiary of InterAmerican, has been established in Peru to represent InterAmerican's local Peru business interests of the commercialization and importation of slot machines. IAG-Peru anticipates the shipment of 100 slot machines in May to be operated through the previously announced agreement with Mixtel S.A.C. (see release from April 10, 2008).
IAG-Peru has appointed Mr. Julio Calmet as its Managing Director to fulfill all business development and operational duties from the company's offices in Lima. From 1995 to 2003, Mr. Calmet was a Director and Financial Manager of Inversiones Piramide S.A., a gaming and hospitality company, which operated the Derby Gran Casino and Restaurant in Lima, Peru, with over 160 employees, 25 gaming tables and 200 slot machines. Mr. Calmet was responsible for financial and administrative reporting as well as leading the company's marketing initiatives. In addition, from 1981 to 2002, Mr. Calmet was a Director of the Calpa gold mine in southern Peru, one of the country's largest mines.
"Licensing approval is a very significant benchmark for us," said Mr. John G. Simmonds, President and CEO of Racino Royale. "And we have built an incredible team. Mr. Calmet is a highly respected executive in Peru with abundant experience in gaming operations. IAG-Peru is fortunate to be able to benefit from his participation."
About Racino Royale, Inc.
-------------------------
In late January 2008, the company entered into a formal share exchange agreement pursuant to which it purchased all of the issued and outstanding shares of InterAmerican Gaming Corp. Upon closing, InterAmerican became a wholly-owned operating subsidiary of Racino Royale.
InterAmerican is an organization focused on Latin America, combining extensive gaming industry experience in the region with specialization in implementing industry-leading technology, systems and marketing programs.
In April, the company completed an agreement with Mixtel, S.A.C., a Peruvian company licensed for importation and commercialization of slot machines in Peru. IAG-Peru S.A.C., a wholly-owned subsidiary of InterAmerican, was subsequently created to finance, manage and operate the slot machine business in that country.
Note: This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Racino Royale, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Racino Royale, Inc.'s SEC filings. Racino Royale, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Racino Royale Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Racino Royale, Inc.'s SEC filings.
For more information please contact:
InterAmerican Gaming Corp.
Eric M. Rahn
Chief Operating Officer
(561) 983-6310
1-866-426-0541 (FAX)
Email: EMR@ceoexpress.com
or
Racino Royale, Inc.
John Simmonds
Chief Executive Officer
(905) 833-9845 x223 (905) 833-9847 (FAX)
Email: jsimmonds@racinoroyale.com
aka Communication Associates, Inc.
