HOUSTON, April 14, 2005 (PRIMEZONE) -- Summit Entertainment Group, Inc (Pink Sheets:SETG) http://www.summitentgroup.com is proud to announce that its online gaming casino, sportsbook, bingo and poker will open for business May 1st, 2005 at http://www.luckysummit.com. Madison Systems Inc. (Pink Sheets:MADI) http://www.Madisonsystemsinc.com, through its newly acquired Ikonsoft Ltd, has developed the "Cutting Edge" software to be used in the release. This marks Summit's introduction into the online gaming segment and should be a wonderful complement to the focus of Summit's Land and vessel based business plan.
Madison Systems Inc. (Pink Sheets:MADI), through its newly acquired Ikonsoft Ltd., is a leading online gaming software provider, has been developing and refining its online gaming technology and operational expertise for over five years. "We are not a patchwork of loosely coupled technology partners. Instead, we built every component from the ground up to be seamlessly integrated for superior, reliable operations and enhanced security, sophisticated gaming engine, advanced front-end graphical interfaces, comprehensive back-end eCommerce system, fraud screening utilities, data mining tools, expansive internationalization," said Donald McNally, chairman of Madison Systems Inc.
Forrester Research Inc. stated, "By 2010, online sales will reach $331 billion. The growing population of online shopping households combined with retailer innovations and site improvements will drive eCommerce to account for 13% of total retail sales in 2010, up from 7% in 2004. Between 2004 and 2010, online sales will grow at a 15% compound annual growth rate." Summit's President John D. Jarvis stated, "We believe that the On-Line gaming division of Summit will produce somewhere in the neighborhood of $100,000 to $300,000 to the company's net profits per month."
About Summit Entertainment Group Inc.
Headquartered in Houston Texas, Summit Entertainment Group, Inc (Pink Sheets:SETG) aspires to be a leading diversified owner and operator of multiple entertainment properties, including developments located in Las Vegas, Reno Nevada and Louisiana. Summit Entertainment Group's press releases are available at the company website located at http://www.summitentgroup.com or www.knobias.com. Additional news and information on Summit can be obtained by contacting the company directly at (281) 255-9424
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