| Pacific Lottery Corporation TSX VENTURE: LUK FRANKFURT: PCF  |
CALGARY, ALBERTA--(Marketwire - April 23, 2009) - Pacific Lottery Corporation (TSX VENTURE:LUK) (FRANKFURT:PCF) ("PLC") is pleased to announce that its proprietary Mobile Phone Lottery Technology Platform ("MobiLot") has recently received initial government approval for use by the Vietnamese State owned and operated on-line Lottery program. This initial regulatory approval, provided by the Vietnamese Authorities is a requirement prior to the issuance of final regulatory approval. Once approved, the Corporation will move expeditiously to implement and offer this new highly anticipated service to the general Vietnamese lottery playing public. Vietnamese mobile phone companies have confirmed at initial work groups to the Corporation that this new service can be launched within 100 days following receipt of final approval. This new mobile phone lottery distribution service is expected to rapidly enhance on-line lottery sales penetration. The Corporation anticipates that the expansion of its delivery capability through the use of its exclusive MobiLot technology will significantly increase growth of Lottery ticket sales in Vietnam for 2009.
The Corporation successfully proved its technology concept with its recently launched pilot project retailer based on-line lottery program in October 2008. This phase one, two hundred (200) terminal program was successfully deployed and generated initial average daily sales of US $ 25 per Terminal. Although a growth rate of over 50 % can be accounted for since implementation, focus is now primarily on preparations for anticipated exponential expansion via additional lottery ticket distribution methodology, including direct system mobile phone access.
The Corporation receives gross compensation of 8.0 % on all on-line lottery ticket sales under an exclusive 10 year technology equipment supply and services agreement. The agreement, which runs until 2018, includes a provision for sales through mobile phones. As part of its preparations towards this objective, the Corporation has recently successfully completed a software update, which included the introduction of a new proprietary three (3) digit game that was jointly designed by Vietnamese State lottery officials and the Corporation's technical team. This new game is intended to directly compete against the So De (illegal Vietnamese lottery market). The Corporation is gratified by the Government's confidence in allowing it to assist in its program to eradicate illegal lottery activities.
Recent estimates suggest that Vietnam with a population of almost 90 million people has approximately 40 million registered mobile phones users, with most estimates expecting this market to grow to 55 million by 2010. The Corporation was recently advised by State officials that the Vietnamese mobile phone industry's current largest value added service, generating revenues in excess of $ 6 million US per month, is a service which provides daily lottery results via mobile phones. Building upon this existing level of lottery interest, the Corporation believes that once direct mobile phone purchasing is implemented, the general availability of this service will provide Vietnamese lottery players with greater ease of access and convenience for the purchase of their everyday lottery needs while the Corporation receives significant revenue streams from its exclusive government contract. The national lottery market in Vietnam has annual revenues of over 1.3 Billion US-Dollars. The unauthorised So De market has been estimated to have a turnover of approximately 3.5 Billion US-Dollar, thereby establishing the total Vietnamese lottery market potential at almost $ 5.0 Billion US-Dollars per year.
About Pacific Lottery Corporation:
Pacific Lottery Corporation is engaged in the provision of comprehensive computerize on-line and mobile phone lottery technology and related professional services for delivery to a growing audience of international customers. Today, the Corporation exclusively leads the technical support activities for the only authorised State run on-line lottery program in Vietnam.
SEC 12g exemption 82-4832
This release contains forward-looking statements within the meaning of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which could cause actual results, performance or achievements of the Company, or industry results to differ materially from those reflected in the forward-looking statements. Forward-looking statements are based on the current expectations, projections and opinions of the Company's management, and the Company undertakes no obligation to publicly release the results of any revisions to such forward-looking statements which may be made, for example to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Neither the Deutche Borse and or the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release"
For more information, please contact
Pacific Lottery Corporation
Jill L.E. Johnson
(403) 266-8900
(403) 266-8909
Email: info@pacificlottery.ca
or
Pacific Lottery Corporation
480, 2710 17th Avenue S.E.
Calgary, Alberta T2A 0P6
Website: www.pacificlottery.ca
