NEW YORK and LONDON, June 6 /PRNewswire/ --
- On June 6, 2008, Lord Steinberg filed as a 5 percent owner of
Electronic Game Card, Inc.
Electronic Game Card, Inc. (OTC Bulletin Board: EGMI) ("EGC"), announced
today that Lord Leonard Steinberg has agreed to join the Board of Directors
as Chairman.
Lord Steinberg is one of Britain's most successful businessmen and one of
the most well known personalities in the gaming industry. He founded Stanley
Leisure in Belfast in 1958 with one licensed betting shop. Stanley Leisure
plc became the largest casino operator and fourth largest retail bookmaker
with 600 shops in the United Kingdom.
In 2005 Stanley sold its retail bookmaking operations for 504m pounds
Sterling (approx US$1billion) and returned 327m pounds (approximately
US$650million) to shareholders. In 2006, Stanley then sold the 45 casinos to
Genting International for approximately US$1.3billion
During Lord Steinberg's tenure, Stanley Leisure grew both organically and
through acquisition. In the last five years as publicly quoted company
Stanley Leisure generated total shareholder returns at a compound annual
growth of more than 25 per cent.
The acquired businesses were cultivated by adding seasoned management,
structural renovations, synergistic business-lines, and improved locations.
Some acquired businesses were relocated into special purpose built
facilities, such as the Circus Casino Birmingham Star City, which is the
largest casino in the United Kingdom.
In addition to his highly successful business career, Lord Steinberg was
made a Conservative Life Peer in 2004 and is an active member of the House of
Lords in the United Kingdom. He is a well known philanthropist and is a
member of the Board of Directors of Medgenics, a U.S. incorporated
biopharmaceutical company, L Sports Investments Ltd., Stanley Bet Holdings
Ltd., and Stanley Bet Overseas Investments Ltd.
Commenting on Lord Steinberg's involvement, a company spokesperson said,
"It is with great pleasure that we will welcome Lord Steinberg to our Board
of Directors as its Chairman. His highly successful career is reflective of
his business acumen and drive to achieve excellence in whatever he
undertakes. Lord Steinberg's experience is well suited to meet, and exceed
the strategic vision of EGMI as it expands in international markets and
pursues further market share gains with superior, well positioned products."
The spokesperson continued, "We believe that the fact that an accomplished
business leader of Lord Steinberg's caliber has agreed to become chairman of
the company is validation of the company's business. In addition, as the
company enters the next stage of its development having an accomplished
Chairman with a track record of large public company leadership will be
invaluable. We especially welcome his leadership in the selection process for
new members of the company's management." Lord Steinberg commented,
"Electronic Game Card is an innovative product that addresses an extremely
large potential market. I am a strong believer in this technology and have
thus recently purchased in excess of 5 percent of the stock in the open
market. With the addition of my established contact base and business and
industry experience I believe that this company has extremely exciting
prospects and I look forward to taking the company and the product range to
the next level."
In addition to Lord Steinberg, the Electronic Game Card, Inc. Board of
Directors has also nominated Eugene Christiansen and Anna Houssels to serve
as non executive directors. Mr. Christiansen has been active as an executive
and consultant to the commercial gambling and entertainment industries since
1976 through New York based Christiansen Capital Advisors. Mr. Christiansen
has conducted studies of the economics, taxation, financial structure, and
regulation of casino gaming, pari-mutuel wagering, and lotteries, and has
counseled Manhattan and Washington, D.C. law firms in legal proceedings
regarding gaming issues. Mr. Christiansen is the author of numerous articles
dealing with casinos, horse racing, greyhound racing, jai alai, off-track
betting, lotteries and related activities in trade, professional, and
academic publications. He prepares authoritative statistical reports that are
widely used domestically and abroad recognized throughout the world as the
most comprehensive and authoritative description of the gambling industries
of the U.S. Mr. Christiansen has co-authored an influential academic study of
gambling, The Business of Risk: Commercial Gambling in Mainstream America
(University Press of Kansas, 1985), and is a member of the advisory boards of
the National Council on Problem Gambling and the Institute for the Study of
Gambling and Commercial Gaming at the University of Nevada, Reno.
Ms. Houssels is currently Vice President of VIP Sales for CityCenter in
Las Vegas, an US$8 billion mixed use real estate project developed as a joint
venture between MGM Mirage and Dubai World. In this capacity she focuses on
expanding the sales network through VIP customers and referrals, and liaising
with MGM MIRAGE key executives plus international and domestic casino
marketing teams. Her responsibilities include leading event sales nationally
and internationally, and developing new sales leads through "business to
business" channels, as well as professional and social personal network
associations.
Prior to Las Vegas CityCenter, Ms. Houssels worked for The Mark Company
and RLM West Luxury Real Estate in California as well as Ezra International
Realty in Las Vegas. Her experience also includes buying, renovating, and
selling luxury high rises in Australia and the United States. She most
recently owned and operated Houssels Properties; a Las Vegas real estate firm
specialized in selling exclusive residences, many of them high rises, to
local and a large international network.
Contact
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
+1-212-681-4108
yvonne@grannusfinancial.com
or
Roger Holdom
Electronic Game Card, Inc.
+44-207-451-2480
investor.relations@electronicgamecard.com
About Electronic Game Card, Inc.
Electronic Game Card, Inc., (OTCBB: EGMI), develops, produces and markets
innovative games to the promotional industry worldwide, casino and lottery.
The Company's lead product is the Electronic GameCard(TM), a unique credit
card-sized pocket game combining patent-pending proprietary technology of
interactive capability with "instant win" excitement. The "Electronic
GameCard" can be programmed to suit a variety of gaming and promotion
applications.
EGMI's client base is across the US$100 billion global market of, sales
promotion, gaming and casinos, Indian gaming and state and national lotteries
markets. EGMI develops sales and marketing relationships with agents globally
and has a technology licensing agreement with a major lottery focused US
listed corporation. For further information please visit
www.electronicgamecard.com
In February 2008, Electronic GameCard(TM) received Gaming Laboratory
International approval for security and product robustness. In July 2005, the
Public Gaming Research Institute (PGRI) named the Electronic GameCard(TM) as
a 2005 Lottery Product of the Year.
Certain statements in this news release may constitute "forward-looking"
statements within the meaning of section 21E of the Securities and Exchange
Act of 1934. The Company believes that its expectations, as expressed in
these statements are based on reasonable assumptions regarding the risks and
uncertainties inherent in achieving those expectations. These statements are
not, however, guarantees of future performance and actual results may differ
materially. Risk factors are listed in the most recent Annual Report on Form
10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and
Exchange Commission.
Web site: http://www.electronicgamecard.com