TORONTO, May 2 /CNW Telbec/ - Baymount Incorporated (TSX Venture: BYM) is pleased to announce that it has entered into a license agreement with Woodbine Entertainment Group ("WEG") for distribution of Baymount's proprietary FasTrack product at WEG facilities. WEG operates Woodbine Racetrack, Mohawk Racetrack, Turf Lounge, Greenwood Teletheatre, and WEGZ Stadium Bar. In addition, the company has an extensive network of 24 Champions off-track wagering outlets. With Thoroughbred race dates and 260 Standardbred race dates, WEG is the largest racetrack operator in Canada handling over $1.3 billion in wagers in 2004.
FasTrack is a fan-friendly racing program for novice or first time customers. The product uses sophisticated analytical tools to interpret data and run calculations that would normally be performed by a professional bettor. This information is then delivered to fans in a user-friendly "how-to" guide to assist them in determining their selection and placing wagers.
The FasTrack license agreement outlines each of the parties' responsibilities and calls for WEG to pay a daily event fee for unlimited use of the product for every race day the program is produced. The license agreement expires December 3rd, 2006.
Mr. Graham Simmonds, President and Chief Executive Officer of Baymount stated, "This product was designed with the intent of removing the intimidation factor of the racing program while providing new track-goers with an easy-to-use program that allows them to make a more educated wager. Our market research and testing has demonstrated that the product does remove these intimidation barriers and enhances the racing and wagering experience."
Ms. Yvonne Woodcock, Marketing Manager of WEG stated, "We have many prospective fans visiting our facilities for other entertainment such as slot gaming and we believe this exciting product is a critical introductory tool to show that this sport is not as complicated and intimidating as it may initially seem."
Mr. Simmonds added, "We are very pleased that WEG has embraced this new product as they are a leading edge organization that continually strives to enhance the horseracing experience. I am delighted that they have identified FasTrack as a tool that can generate interest in the sport and assist in creating a new generation of fans".
About Baymount
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Baymount seeks out and develops opportunities within the horseracing industry. It is the Baymount philosophy to create entertainment destinations for consumers while providing our investors with a vehicle that allows them to participate in the growth of Canadian gaming.
Baymount's wholly-owned subsidiary Belleville Racetrack Development Corporation has an agreement with the Belleville Agricultural Society to build a facility to relocate the Quinte Exhibition and Raceway ("QER") in Belleville, Ontario. QER is one of the 18 racetrack licenses in Ontario eligible to participate in Ontario's Slots-at-Racetracks program. The Alcohol and Gaming Commission of Ontario recently found the company to be suitable to act as landlord for the proposed Ontario Lottery and Gaming Corporation gaming premises to be located at the new QER.
Baymount is also pursuing a standardbred racing license for the development of a new racetrack and gaming facility in Brandon, Manitoba. In addition to these exciting development opportunities, Baymount has the exclusive license to market Instant Racing throughout Canada. Instant Racing, which is currently awaiting regulatory approval, is a patented electronic horseracing and pari-mutuel wagering system that emulates the very successful slot machine experience. Baymount also owns the FasTrack information product, a proprietary horseracing information product with an easy-to-use design that can be used to introduce new fans to the sport of horseracing.
For additional information please visit the company's website at www.baymountcorp.com.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. To the extent that any information contained herein constitutes comment on future events, when considering such forward-looking statements readers should keep in mind that there are risk factors and other contingencies that can affect actual outcomes and should recognize that these statements speak only as of the date made.
For further information: please contact: Graham Simmonds, President and Chief Executive Officer, Baymount Incorporated, (416) 979-2881, x223, (416) 979-6708 (fax), graham@baymountcorp.com; Renmark Financial Communications Inc.: John Boidman: jboidman@renmarkfinancial.com; Barry Mire: bmire@renmarkfinancial.com, T: (514) 939-3989, F: (514) 939-3717, www.renmarkfinancial.com |
