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Chimera Goes Live with First Licensee

Chimera Technology Corp. ("Chimera") is pleased to announce that its first licensee, 724SportsBook.com, operated by Market System Inc., will be officially launching a live and fully operational site on Friday, Feb. 13, 2004, 9 a.m. PST, Noon EST.

724SportsBook.com will immediately offer wagering on all major sporting events around the world including NHL, NBA, soccer, golf, motor racing, cricket and more. Furthermore, pari-mutuel horse racing will be available in the very near future, as will the full line of casino games once testing and debugging have been completed.

Chimera first announced the signing of Market System Inc. on Dec. 2, 2003, representing an exceptionally fast time to market and live operation that compares with the world’s best providers of online gaming solutions.

Chimera Officially Enters Explosive Growth of Online Gambling Industry

The official launch of 724SportsBook.com officially enters Chimera Technology into the explosive growth industry of online gambling. In the company’s latest investor bulletin dated Jan. 20, 2004, Chimera reported that U.K. residents spent more than $US6.4 billion in online gambling in 2003, while residents of the United States spent more than $US1.0 billion. More importantly, as a result of Britain’s Gambling Bill expected to pass into law in 2004, making it easier for companies to run online casinos from the United Kingdom, online gambling revenues are expected to increase sixfold in the coming years.

Chimera President Ken Chua stated, "Today is a watershed day for both the company and its shareholders. With the launch of 724SportsBook, Chimera has proven itself capable of delivering robust and dependable solutions to the market. The market has been waiting for this day for quite some time and we expect more licensees to both inquire and acquire our solutions. With the launch of our first licensee and large private placement equity injections into the company, what more can be said than watch out for Chimera in 2004 as there is nothing stopping our team from reaching its business objectives in the lucrative online gaming industry."

This press release is available on the company’s official online investor relations site for investor commentary, feedback and questions

Read the entire article at: BusinessWire 

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