|Nevada Based Rimpac Resources has announced its acquisition of San Diego-based Internet LOTO Inc. InternetLOTO is the developer of InternetLOTO.com, a global Internet lottery with weekly webcasts of draws. |
Thomas Johnson, CEO of Internet LOTO and director of Rimpac said of the deal: ``The acquisition of Internet LOTO by Rimpac is a very positive step as the company intends to be a premiere online developer, marketing agent and e-tickets distributor for numerous international lotteries on the Internet. It is an exciting and opportunistic time for Rimpac to capitalize on the exponential e-commerce growth that Internet lotteries have to offer. We have the perfect revenue model for global Internet commerce. Just imagine our product is the e-ticket -- no inventory, no shipping and best of all, no returns. Our low cost of doing business and high revenue returns will be the envy of every major companies on the Net,'' commented Johnson.
According to Internet industry analysts Datamonitor, ``U.S. and European revenues from online gaming will soar to $20 billion by 2005. Online lotteries will be the most popular form of Internet gaming within four years.''