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Games, Inc. TO Acquire Games.com from Atari, Inc.
Games, Inc. to acquire Games.com and will also acquire digital licenses and sublicenses to a number of popular games including MONOPOLY, SCRABBLE, RISK, BATTLESHIP, BOGGLE and YAHTZEE and the classic Atari games.
CINCINNATI, OHIO January 15 2004--Games Inc. (OTCBB: "GMSI") announced today that it has entered into an agreement to purchase from Atari, Inc. the www.Games.com domain name and certain related assets for a purchase price of $1,125,000 payable in cash and convertible, redeemable and callable preferred stock. The purchase is scheduled to close on or about March 31, 2004 upon Atari's redemption of the preferred stock.
As part of this transaction, Games, Inc. will also acquire digital licenses and sublicenses to a number of popular games including MONOPOLY, SCRABBLE, RISK, BATTLESHIP, BOGGLE and YAHTZEE and the classic Atari games.
Games.com will begin immediately to upgrade graphics, security, chat features and functionality of the www.Games.com site to allow for enhanced play within the current play pattern and to allow for skill-based tournament play for merchandise prizes. Re-launch of the upgraded site is scheduled for spring 2004.
Roger Ach, Chairman and CEO of Games, Inc. stated: "We are very excited about the power of these great brands and believe that www.Games.com will become a very significant URL in the market for skill-based tournament play."
About Games, Inc.
Games, Inc. and its subsidiaries own and operate a compelling collection of online businesses engaged in interactive entertainment, online media and value-added information service providing subscribers with access to entertaining proprietary content via the Internet. The Company and its subsidiaries operate a branded network of web sites targeting three allied areas of interactive entertainment: government sponsored lotteries, Internet games, and digital greetings. In addition, we continue to develop and manage a large opt-in e-mail database. We currently own and operate leading games and entertainment sites that include:
www.Games.com www.Lottery.com www.GameLand.com
www.SkillMoney.com ; www.Cards.com
Safe Harbor
This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This information involves risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. For certain information regarding these risks and uncertainties, reference is made to Games' Annual Report on Form 10-K/A for the fiscal year ended June 30, 2003 and the Quarterly Report on Form 10-Q for the period ended September 30, 2003.
Company: Myles Cairns
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