Game, for Which Patent is Pending, Provides Unique Ability For Continued Participation Throughout The Tournament
BOCA RATON--(BUSINESS WIRE via COLLEGIATE PRESSWIRE)--Mar 7, 2001--In a further expansion of its online game offerings, Fantasy Sports, Inc. (www.fantasycup.com), a wholly owned subsidiary of Silverstar Holdings, Ltd. (Nasdaq:SSTR) today announced the launch of its 2001 College Fantasy Basketball Challenge game.
The game, for which a patent is pending, offers players the unique ability to trade online and earn points throughout the tournament thereby providing participants the ability to win even if their early round selections were eliminated. The game will run simultaneous to the NCAA March Madness tournament and offers prizes in excess of $20,000 to the first 500 winners. An entry fee of $25 per team will be charged and each participant will be eligible to compete for a $1 million grand prize for correctly forecasting all the bracket winners throughout the tournament. A free form of entry will be offered to players in an offline format through the US mail.
Clive Kabatznik, Chief Executive Officer of Silverstar Holdings, Ltd., said, ''The launch of this tournament challenge marks the first new game developed by Fantasy Sports since we acquired them in November 2000. We are committed to rolling out a broad range of primarily fee-based games in different sports in order to diversify our revenue streams and to grow the company into the premier provider of fee-based fantasy sports games in the United States.''
''The March college basketball tournament is one of the highlights of the sports year and we believe that our game is the only one that enables participants to have a chance of winning regardless of earlier round choices and scores. This unique feature is based on our patent-pending game engine which uses an escalating point scoring system that rewards later round victories with proportionately higher scores. Our game, therefore, will command loyalty and continued participation throughout the tournament as no one is eliminated in the
early rounds.''
''The patent-pending game engine developed by Greg Liegey, CEO of Fantasy Sports, will be used in future tournament game applications where seeds and elimination rounds are integral elements of the sporting event,'' concluded Mr. Kabatznik.
About Fantasy Sports
Fantasy Sports, Inc., founded in 1993, is one of the oldest and largest providers of predominantly fee-based fantasy sports games, accessible through their website at www.fantasycup.com. The company runs highly successful Spring, Fall and individual NASCAR race challenges, as well as a college football season challenge. Fantasy Sports` subscription based games also provide easy access for free play through the US mail.
About Silverstar Holdings
Silverstar Holdings Ltd. (Nasdaq:SSTR) is a publicly traded company, focusing on investing in businesses that stand to benefit from the economies of scale generated by Internet and other technology related platforms. It currently owns Fantasy Sports, Inc., a dominant provider of fee based Nascar related fantasy sports games; as well as a 33% fully diluted stake in Magnolia Broadband, Inc., a company developing broadband wireless fixed-access applications. The Company recently initiated a $2.5MM share buyback.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the company`s filings with the Securities and Exchange Commission.
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