First Entertainment Holding Corp. Partners with Sportsnet, Inc. for Internet Gaming Site

Strategic Insights -

First Entertainment Holding Corp., a multi-media company based in Denver, has announced a strategic partnership with Sportsnet, Inc. to develop and operate an internet gaming site from the Commonwealth of Dominica. The deal, signed on September 16, 1998, marks a significant milestone for First Entertainment as it expands its reach into the online gaming industry. Under the agreement, Sportsnet will provide the necessary hardware, software, and services to enable First Entertainment to operate the site, while First Entertainment will handle the operation, marketing, and advertising of the site.

Key Takeaways:

  • First Entertainment Holding Corp. has partnered with Sportsnet, Inc. to develop and operate an internet gaming site from the Commonwealth of Dominica.
  • The site will offer online casino games and lottery contests, with Sportsnet providing the necessary hardware, software, and services.
  • First Entertainment will be responsible for operating the site, providing physical facilities, and marketing and advertising the site.
  • The partnership is subject to strict compliance with all existing and pending U.S. legislation regarding internet gaming.
  • First Entertainment is committed to building and operating the site in a manner that ensures compliance with U.S. regulations.
  • The partnership emphasizes the company's commitment to expanding its reach into the online gaming industry.
  • First Entertainment has divisions or subsidiaries operating in the areas of radio broadcasting and comedy clubs.
  • The company's website is [www.FirstEntertainment.com](http://www.FirstEntertainment.com).

Statistics:

  • The internet gaming site will be operated from the Commonwealth of Dominica.
  • The site will offer online casino games and lottery contests.
  • First Entertainment will provide all physical facilities and communication installation.
  • Sportsnet will provide hardware, software, on-line casino games, lottery contests, web development, associated business applications development, and site maintenance.
  • First Entertainment has committed to earning $20 million in gross revenue within the first four quarters of operation in the online gaming industry.

Sources:

  • Business Wire, "First Entertainment Holding Corp. and Sportsnet, Inc. Announce Definitive Agreement for Internet Gaming Site", September 16, 1998.