Electronic Game Card, Inc. Mourns the Passing of its Executive Chairman, The Lord Leonard Steinberg
Electronic Game Card, Inc. Mourns the Passing of its Executive Chairman, The
Lord Leonard Steinberg
CEO Kevin Donovan and Board Member Eugene Christiansen to serve jointly in the
Interim Office of the Chairman
IRVINE, Calif., NEW YORK and LONDON, Nov. 3 /PRNewswire-FirstCall/ --
Electronic Game Card, Inc. (OTC Bulletin Board: EGMI) ("EGC"), announced today
with great sadness that the Company's Executive Chairman, Leonard Steinberg,
Baron Steinberg of Belfast, died suddenly of a heart attack November 2, 2009
on his 73rd birthday in London, England.
Lord Steinberg was one of Britain's most successful businessmen and one of the
most well known personalities in the gaming industry. He founded Stanley
Leisure in Belfast in 1958 with one licensed betting shop. Stanley Leisure plc
became the largest casino operator and fourth largest retail bookmaker with
600 shops in the United Kingdom.
In 2005 Stanley Leisure's retail bookmaking operations were sold for pounds
Sterling 504 million (approximately $1 billion) and returned pounds 327
million (approximately $650 million) to shareholders. In 2006, Stanley Leisure
then sold the 45 casinos to Genting International for approximately $1.3
billion.
In addition to his highly successful business career, Lord Steinberg was made
a Conservative Life Peer in 2004 and was an active member of the House of
Lords in the United Kingdom. He was a well known philanthropist as Founder and
Chairman of the Steinberg Family Charitable Trust.
"Leonard's passing gives me much pain and sadness and a tremendous sense of
loss for his family, many friends and colleagues. All who knew Leonard greatly
admired his wisdom, support and personal approach to relationships. Words
cannot describe how much we all respected Leonard and appreciated the
opportunity to work closely with him," commented Kevin Donovan, interim Joint
Chairman and CEO of Electronic Game Card, Inc. "While we are all deeply
saddened with his passing, management, the Board and company consultants will
continue to work hard to take this company to the next level, and are
accelerating our commitment to growth to honor this great man and the faith he
had in us and the future of the company."
Interim Joint Chairman Eugene Christiansen said, "This news has come as a
shock to all of us. We are deeply saddened. The Steinberg family is in the
midst of their mourning period. The company is convening its Board of
Directors to take appropriate actions in light of this unfortunate and
untimely development."
For More Information Contact:
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
Call 212-681-4108
e-mail: yvonne@grannusfinancial.com
or
Kevin Donovan
Chief Executive Officer
Electronic Game Card, Inc.
Call 866-924-2924
e-mail: investor.relations@electronicgamecard.com
About Electronic Game Card, Inc.
Electronic Game Card, Inc., (OTC Bulletin Board: EGMI - News), develops,
produces and markets innovative games to the casinos and lottery, toys and
games, education, and promotional industry worldwide. The Company's lead
product is the EGC Electronic GameCard(TM), a unique credit card-sized pocket
game combining patent and patent-pending proprietary technology of interactive
capability with "instant win" excitement. The "EGC Electronic GameCard(TM)"
can be programmed to suit a variety of gaming and promotion applications.
EGMI's client base is across the $100 billion global market of, sales
promotion, gaming and casinos, Indian gaming and state and national lotteries
markets. EGMI develops sales and marketing relationships with agents and
distributors globally and currently has agents and distributors in North
America, United Kingdom, Ireland, South Korea, Mexico, Italy, Sweden, Norway,
Denmark, Finland, South Africa Australia, New Zealand and Japan.
For further information please visit www.electronicgamecard.com
Certain statements in this news release may constitute "forward-looking"
statements within the meaning of section 21E of the Securities and Exchange
Act of 1934. The Company believes that its expectations, as expressed in
these statements are based on reasonable assumptions regarding the risks and
uncertainties inherent in achieving those expectations. These statements are
not, however, guarantees of future performance and actual results may differ
materially. Risk factors are listed in the most recent Annual Report on Form
10-KSB and Quarterly Report on Form 10-QSB filed with the Securities and
Exchange Commission.
SOURCE Electronic Game Card, Inc.
Yvonne L. Zappulla, Managing Director, Grannus Financial Advisors, Inc.,
+1-212-681-4108, yvonne@grannusfinancial.com; Kevin Donovan, Chief Executive
Officer, Electronic Game Card, Inc., 1-866-924-2924,
investor.relations@electronicgamecard.com
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