BEIJING, Aug. 20 /PRNewswire-FirstCall/ - MonArc Corporation, www.monacorporation.com, (MONA.PK) announced today that PP365.com has entered preliminary negotiations with 2 North American based Sports Fantasy Pool portals, with the intent to leverage the technology and adapt it to the Chinese market. One of the portals is a well known USA based sporting facility.
China first began to see professional sports development in the mid 1990s. Soccer, baseball and basketball are among the increasingly popular spectator sports in China.
Fantasy sports are growing in popularity across North America as sports fans build baseball, football, basketball, hockey or Formula One racing teams that compete against each other in online leagues based on the statistics generated by individual players or teams in Major League Baseball, the NFL, NBA, NHL or Formula One.
MONA CEO Yong Chen advised; "We think the timing is perfect for the introduction of this type of gaming in the Chinese market, and we have the opportunity to be the first to market. As professional sports leagues continue to enjoy dramatic growth in China, it is only natural for the concept of Fantasy Pools to develop alongside them. We believe the appeal will be very strong, given the popularity of gaming and gambling in Chinese culture.
Revenue will be generated by our website to administer these fantasy pools, and there are huge opportunities for collateral revenue streams for the sale of memorabilia, etc. Management conservatively estimates these revenue streams to topple 10 million dollars in the first few years of operations. Rather than having to reinvent the wheel, we believe that we can learn from the knowledge base already developed in North America, and adapt the concepts that resonate most strongly with Chinese culture."
In other corporate news and updates, the company has completed its updated pink sheets management disclosure and is awaiting solicitors notes of approval from Pink Sheets.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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