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Wednesday March 29
2006
Ongoing Negotiations with PAGCOR
Kenilworth Systems Corporation
(‘Kenilworth’ or
the ‘Company’) is continuing final contract negotiations
with the Philippine Amusement and Gaming Corporation (‘PAGCOR’),
a Philippines Government Agency. When finalized, it will
permit Kenilworth to broadcast live, in-progress casino table games
from the new Hyatt Hotel and Casino in Manila, Philippines. The
broadcasts will initially be aimed to European countries and, in
the future, the Pacific Rim Nations and the Asian Market.
Our patents also include Internet including
streaming besides, in addition telephone and satellite distribution. Kenilworth
negotiators have dropped the revenue caps to facilitate Independent
Auditing procedures and agreed to minimum monthly revenue guarantees
which amount remains part of the negotiations.
In order to complete our December 31, 2005
10-K filing, we were granted an automatic extension for the filing
until April 16, 2006.
We originally
had indicated that the contract negotiations could be completed
much sooner. We correct this statement. We
now estimate the contracts will not be concluded before our 10-K
is filed.
Forward Looking Statement
This release 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 such 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 release are
made as of the date hereof and Kenilworth undertakes no obligation
to update such statements.
Contact: Kenilworth Systems Corp. (516) 741-1352, Roulabette@aol.com.
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