Kenilworth Systems
Corporation (OTC Pink Sheets: KENS) ... Kenilworth Systems Corporation
("Kenilworth") announced today that it has been granted final approval to
commence
real time, live in-progress casino table game broadcasts
("Roulabette(R)") by the Board of Directors of the Philippines Amusement
and Gaming Corporation ("PAGCOR").
The ten (10) year agreement provides for fixed monthly payments and
other guarantees by Kenilworth, agreed upon in the "Letter of Intent" dated
April 27, 2006. All operating costs for the live game broadcasts are borne
by Kenilworth. The initial broadcast will emanate from the new Hyatt Hotel
and Casino in Manila in early 2007 with tests starting later this year.
Herbert Lindo, Chairman and Chief Executive Officer, stated, "We now
expect other casino operators throughout the industrialized world to follow
PAGCOR's lead." He confirmed that, "Kenilworth has statistical data that
Roulabette(R) may become a $500 billion net win market from wagering in
five (5) years, which will be shared by participating
casinos, governments
and other entities. There are 430 million television sets in households,
bars, restaurants, hotel and resort rooms, slot parlors for potential
Roulabette(R) wagering. Roulabette(R) is a natural progression to virtual,
make believe casinos and watching Poker Tournament play for entertainment."
With the patented Roulabette(R) System, the actual wagering takes place
at the receiving television set managed by the microprocessor installed in
the set-top boxes (both cable and satellite) or as an attachment to the TV
set. It is a one-way transmission requiring only the consent of the
receiving jurisdictions. Roulabette(R) can be managed to prevent the
under-aged from participating and controlling compulsive gamblers. Video
lottery terminals and regular slot machines will offer Roulabette(R)
wagering in combination with slot play, for an exciting change of pace.
Kenilworth's Board of Directors formally ratified the terms of the
Kenilworth/PAGCOR Agreements at the meeting, during which the Directors
elected Edward Vietmeier a
2006-07-12