LAS VEGAS, Sept. 7, 2004 (PRIMEZONE) -- Chimera Technology Corp. ("Chimera") (Pink Sheets:CNOC) (http://www.chimeratechnology.com) is pleased to announce the completion and implementation of their thoroughbred horse race betting platform. This new initiative will allow horseracing enthusiasts to place wagers on horse races from the comfort of their own homes.
The horse track betting platform will offer real-time live odds from most major North American racetracks. Chimera is also currently working on expanding their network to include odds from racetracks in Europe and Asia. In addition, in the near future, Chimera licensees will be offering live video streaming of races where this service is made available. In essence, the package that Chimera offers will be the next best thing to actually being at the race itself.
The horse racing industry is considered to be one of the most lucrative gaming sectors as the worldwide handle is estimated to be over $150 billion. In North America alone the handle is currently estimated to be over $20 billion. This sector has also experienced and continues to experience phenomenal growth. Since 1994 to present, the U.S. thoroughbred racing handle has grown from $9.9 billion to over $18 billion, representing a nearly 100% increase in approx. 10 years. Off-track betting accounts for roughly 87.5 percent of U.S. handle, which indicates that Chimera has targeted the right sector at the right time.
For those interested in a live demonstration of the horse track betting platform, they may view a demo which been made available at www.724SportsBook.com under the "Horses Now Available" section. Once inside the registration page, simply type in "playforfun" in the "Code" section and leave the "password" section blank. Once inside, select any available track to view live odds.
Chimera President Ken Chua stated, "We are excited about this new platform and believe that it will help to significantly impact the bottom line of licensees and in turn, Chimera. Our team continues to work hard to bring products to market that will have the greatest impact."
This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com and view the "Chimera Technology" Investor Discussion and Contact Forum. Alternatively, investors can e-mail AGORA Investor Relations directly at CNOC@Agoracom.com.
About Chimera Technology Corp. (http://www.chimeratechnology.com)
Chimera Technology Corp. is a Nevada-based I-gaming software and e-commerce services company competing in the more than $6 billion annual online gaming marketplace, projected to be more than $10 billion by 2004, according to Computer Almanac Industry. The company is an international developer, licensor and provider of online gaming products, including online bingo, casino, sports book, and pari-mutuel betting. Chimera Technology Corp. has successfully developed a supreme multi-player online Internet Bingo technology, a second-generation world-class pari-mutuel sports books wagering platform and a full line of online Internet casino games suite. In addition, the company has developed its state-of-the-art "BIRDS EYE" System, a complete back-office management system that operates the entire e-commerce transactions, gaming Web sites, accounting system and licensees' management/reporting platform that is second to none, giving Chimera an opportunity to establish a leadership position in this enormous market.
To obtain further information on Chimera Technology Corp., please visit Internet Web sites http://www.chimeratechnology.com and http://www.724Bingo.com.
The above statements in regard to Chimera, which are not purely historical, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Chimera's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that the actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as technological, legislative, corporate, financial and marketplace changes.