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Win Win Raises $2 Million For Wireless China Lottery
March 8, 2005 |
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Comments | Category: Wireless
Win Win Gaming (WNWN.OB) a Las Vegas-based operator of international lottery games and related gaming ventures has raised US$2,000,000 through a private placement of 4,000,000 shares of its common stock to the Van Wagoner Private Opportunities Fund, L.P.
The investment was funded on February 25, 2005 and the company intends to use the proceeds of this financing to expand the lottery ticket distribution and sales network for its Slam Dunk lottery which was launched in Shanghai, China in July, 2004. Win Win will also use a portion of the proceeds to continue to develop the infrastructure to operate wireless initiatives in China and throughout the world.
Win Win is in the process of receiving approval from the Chinese government to expand the Slam Dunk lottery operations and related TV show into additional provinces and to expand its broadcast network nationwide.
"The Van Wagoner Private Opportunities Fund, L.P is excited to continue to support Win Win Gaming in its development," said Garrett Van Wagoner, President of Van Wagoner Capital Management. "We believe that the company is well positioned to capitalize on the tremendous opportunities available in this industry in China and throughout the world."
Van Wagoner Capital Management is a San Francisco-based private investment firm that invests in innovative products and services in all market segments including: computers, healthcare, consumer services, retail, telecommunications electronics and more.
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