Let The Good Times Roll/Vu365 Sign Joint Venture to Enter $57,200,000,000 US Market
04 Gennaio 2011 - 7:30PM
Marketwired
Eline Entertainment Group, Inc. (PINK SHEETS: EEGI)
(http://elineentertainment.com/), and its subsidiary Let The Good
Times Roll, Inc. announce a joint venture with fellow EEGI
subsidiary, Vu365.
Let The Good Times Roll, Inc. ("LTGTR")
(http://www.goodtimespartybus.com) is a luxury transportation
company with its base of operations in Florida. LTGTR has for the
last 14 years focused mainly on the luxury party bus industry, but
has recently expanded its corporate business model to include
regularly scheduled routes for college "Safety Shuttle" bus routes.
These shuttles provide "of-age" students with transportation to and
from colleges and universities, delivering them safely to their
destinations while alleviating the troubles of driving themselves.
LTGTR plans to quickly expand these Safety Shuttles into major US
college towns.
Vu365 (http://www.vu365.com) is a popular China-based video game
designing company. Founded in 2005, the company designs online and
casual video games including strategic web games, cyber games and
3D large scale competitive games and has several products in
development. The company has been looking to expand into the US
market for some time, and cooperation with LTGTR offers the
opportunity to reach the lucrative college market. The initial
terms of the agreement state that Vu365 will pay LTGTR 10% of the
monthly revenue from users signed on through ISPs in promoted
regions. LTGTR's shuttles will be detailed with graphics promoting
a Vu365 online game, and will run ads for the games in their buses
and on the LTGTR website.
Mr. Sheng Chen, CEO of Eline Entertainment: "We are working
diligently to bring synergy to Eline with Vu365 and LTGTR. This a
way for us to help LTGTR expedite its college shuttle program while
introducing Vu365 to the United States market. The web and casual
gaming industry is one of the fastest growing leisure market
sectors worldwide and we plan to fast track our games while
utilizing all the moving pieces of EEGI."
According to PwC's Playing to win: The outlook for the global
casino and online gaming market to 2014
(http://www.prnewswire.com/news-releases/us-gaming-revenues-will-increase-to-over-68-billion-in-2014-with-recovery-expected-in-late-2011-according-to-pwc-111438779.html),
total U.S. gaming revenues will increase to $68.3 billion in 2014
from $57.2 billion in 2009, a 3.6 percent compound annual
increase.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of Eline
Entertainment Group, Inc. that constitute forward-looking
statements for purposes of the safe harbor provisions under the
Private Securities Litigation Reform Act of 1995. The words or
phrases "can be," "expects," "may affect," "believed," "estimate,"
"project," and similar words and phrases are intended to identify
such forward-looking statements. Eline Entertainment Group, Inc.
cautions you that any forward-looking information provided by or on
behalf of Eline Entertainment Group, Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Eline Entertainment Group, Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Eline Entertainment Group, Inc.'s
control. In addition to those discussed in Eline Entertainment
Group, Inc.'s press releases, public filings, and statements by
Eline Entertainment Group, Inc.'s management, including, but not
limited to, Eline Entertainment Group, Inc.'s estimate of the
sufficiency of its existing capital resources, Eline Entertainment
Group, Inc.'s ability to raise additional capital to fund future
operations, Eline Entertainment Group, Inc.'s ability to repay its
existing indebtedness, the uncertainties involved in estimating
market opportunities and, in identifying contracts which match
Eline Entertainment Group, Inc.'s capability to be awarded
contracts. All such forward-looking statements are current only as
of the date on which such statements were made. Eline Entertainment
Group, Inc. does not undertake any obligation to publicly update
any forward-looking statement to reflect events or circumstances
after the date on which any such statement is made or to reflect
the occurrence of unanticipated events.
Source: Eline Entertainment Group, Inc.
Contacts: Eline Entertainment Group, Inc.
corporate@elineentertainment.com Investor Relations 1-647-426-1640
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