ORLANDO, Fla., April 20, 2004 (PRIMEZONE) -- TS&B Holdings, Inc. ("Company" or "TS&B") (OTCBB:TSBB) today announced its intention to acquire and develop online gaming software. TS&B subsidiary, TS&B Gaming & Entertainment Corp., intends to review online platforms and software including blackjack, roulette, craps, pai gow and slots, among others. The Company will review the development of an online gaming website and the acquisition of online gaming software over the next few months. TS&B Gaming & Entertainment Corp., a wholly owned subsidiary was created solely for the purpose of positioning the Company in the $600 billion dollar Gaming Industry.
The CEO of TS&B Holdings Inc., James E. Jenkins stated, "We are very enthusiastic about positioning the new subsidiary into the multi billion dollar online gaming sector and exploring possible acquisitions in the gaming and entertainment sectors. With funds we have received from Compass Capital Group, we are now expanding our Gaming and Entertainment Division to position TS&B in the Multi Billion Dollar Gaming Industry."
A Bear Stearns report for the industry pegs annual revenue at $4.2 billion for 2003, while Christiansen Capital Advisors predicts a slightly rosier picture pointing to an estimated $4.5 saying 2005 revenue could exceed $10 billion. InformaMedia Group, which tracks electronic gambling predicts that online gaming revenue will even reach $14.5 billion by 2006.
This press release contains certain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could cause or contribute to such differences include, but are not limited to, market acceptance of products, services and technologies; changes in local currency valuations; the Company's ability to continue to secure sources of financing; and other factors as described in the Company's filings with Securities and Exchange Commission. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.