Kenilworth Systems Corporation Supports
Congressman Barney Frank’s Internet Gambling Bill
On May 6, 2009 Representative Barney Frank (D-Mass.) introduced legislation allowing Internet Gambling by individuals in the United States.
The proposed Congressional Internet Gambling Regulations, entitled: THE INTERNET GAMBLING REGULATION, CONSUMER PROTECTION AND ENFORCEMENT ACT OF 2009 would establish a framework permitting regulated casino operators to allow individuals to play along with their table game offerings. The players would be able to wager as if they are in the actual live casino playing at the tables rather than virtual, make-believe or number generated casino games from studios that European Operators wish to promote in the United States. They are presently using the United States World Trade Organization (WTO) commitments as a hammer and chisel to enter the annual potential multi-billion dollar taxable market.
Kenilworth owns United States Patent U.S. 6,575,834 B1, date of patent: June 10, 2003 entitled:
SYSTEM AND METHOD FOR REMOTE ROULETTE AND OTHER GAME PLAY USING GAME TABLE AT A CASINO.
A system and method for playing table-type games such as roulette or dice in an interactive manner at a site remote from the actual casino table at which a camera follows a live game that is being played in a live casino.
The patented technology that allows the use of lottery-type terminals to accept cash deposits and manage the wagering by using lottery data systems that can easily identify problematic gamblers and limit or shut down their obsessive gambling habits and also prevents under-aged participation when state operated lotteries become involved.
Congressman Barney Frank and fifteen (15) other co-sponsors introduced his Bill in the House of Representatives. At this time we can only project what our international press release may contain after a comparable bill is introduced in the U.S. Senate. Kenilworth will make an official press release as soon as we can determine how the bill is received.
We believe our patents will force live casino operators that wish to participate in Internet Gambling will be required to obtain their license from Kenilworth.
Our patents have been filed in fifty-one (51) industrialized countries including China and Japan. Japan does not have any casinos and we believe Pachinko players will play along with Macau or Las Vegas when Internet Gambling is approved in the United States. When approved in China, mainlanders may play along with the casinos located in Macau or Las Vegas, the gambling capital of the world.
Switzerland is preparing to legalize online gambling following an announcement from the country’s Justice Ministry. The Ministry stated in a press release last week that the upcoming reforms of Swiss casino laws propose blocking foreign operators from accessing the Swiss market without proper license. We interpret the proposed legislation will prevent foreign virtual casino game operators from accessing the Swiss market. The Ministry claims existing rules outlawing gaming at online casinos have failed.
There are 2,165 casinos in the countries our patents are filed and the trend to play along with live, in-progress casino table games instead of virtual, number generated games will end virtual studio-type gaming (the outcome on slot machines and video lottery terminals use number generators that are programmed to hold back a fixed amount). Playing along with a live game at a regulated casino should become an annual $500 billion dollar net win market in five (5) years shared by participating casino operators, local, state and federal governments with some profits inuring to worthy causes. We expect our share to be thirty percent (30%) of the net win before taxes and government fees.
FORWARD LOOKING STATEMENT
This report contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-Q and other filings made by the Company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this report are made as of the date hereof and Kenilworth undertakes no obligation to update such statements.