Less than a month ago, the penny stock of Empire Global Gaming, Inc. (OTC: EPGG) began trading shortly after announcing it had “hit the jackpot” with a licensing deal it had just signed. Yesterday, like almost every day this month, EPGG stock climbed once again matching its high of 0.45 set at the beginning of May. Now that its new patented gaming technology has been approved for distribution through licensed vendors by the Gaming Commission in several states and has passed the criteria for worldwide legal use and approval by Gaming Laboratories International, is betting on a higher PPS just for suckers?
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EPGG Stock Quote
Market Cap: 23.85M
Last: 0.4199 ▲ +0.0399 (+10.50%)
Dollar Volume: $39,556
Issued and Outstanding: 56,801,000
CEO, Nicholas Sorge, Sr. : 40,000,000
14-Day Rel Strength: 79.12%
14-Day Stochastic: 91.64%
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Back in April, Empire Global Gaming made it known that Turtle Island Gaming, Inc. was ready to license certain intellectual property relating to games which are owned by the Company. Empire Global stated they would receive 50% of all revenues generated from all licensed materials. That’s a huge “vig” to negotiate considering the limited time frame the Company has been in existence.
Two weeks later, Empire Global filed for international patents, which they apparently received as of Tuesday, to protect its portfolio of currently held U.S. patents to better allow the Company to enforce its strategy of marketing to international casinos, cruise ships and the emerging online gambling sector – all in all, a projected $7.4 billion annual market in the U.S. alone by 2017. The effect of these announcements has allowed for EPGG stock to rise considerably, over 221%, despite having traded over 100,000 shares in a session only twice.
As per the 10-K filed by Empire Global Gaming last month, the Company holds licenses for 8 patented Class II and III Casino Grade Mechanical & Electronic Games which include:
(i) proprietary 20 sided dice game,
(ii) combination game of poker and blackjack, side bet blackjack, and
(iii) 5 patents covering roulette
With just $9,532 in revenues for the 12 months ended December 31, 2012 versus $2,793 for the same period the year prior, Empire Global’s newly issued patents and deal with Turtle are just the first moves to position the development stage Company into the approximately 2,000 gambling venues in the U.S. Is the international expansion opens doors for a total of 5,000 possible gambling venues worldwide, EPGG stock just might be at the pinnacle of its successful launch, but is surely a contender for the watch list.
About EPGG Stock
Empire Global Gaming, Inc. is a development stage company which offers custom game manufacturing, gaming solutions, supplies, and custom game marketing as well as providing consulting and advisory services to the gaming industry.
Click here to view the SEC filings for EPGG.
Click here to view the website for Empire Global Gaming.
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Gambling and prostitution are 2 business enterprises that will around for as long as humans continue to breathe, sleep and eat. That said, EPGG seems to be making its presence known and its low-float structure makes it a penny stock worth watching, especially if Sorge, Sr. can pull together some deals over the summer.
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