QI Systems, Inc. Files Application with GPEB
March 04 2004 - 5:00AM
PR Newswire (US)
QI Systems, Inc. Files Application with GPEB RICHMOND, British
Columbia, March 4 /PRNewswire-FirstCall/ -- QI Systems Inc.
(BULLETIN BOARD: QIIIF, TSX Venture Exchange: QII.U) , the industry
leader in smart card solutions, announced today that the company
has filed a registration application with the British Columbia
Gaming Policy and Enforcement Branch seeking certification to
provide goods and services to the gaming industry in British
Columbia. The Gaming Policy and Enforcement Branch (GPEB) is
authorized by the provincial government to oversee the
implementation of policy related to the gaming industry, lotteries
and horse racing. GPEB also conducts background investigations and
registers companies to participate in the gaming sector. GPEB
reports that gaming operations in British Columbia produced
approximately $2 billion CN in revenue annually, representing
approximately 10% of the total gaming revenue in Canada. While the
per capita spending on gaming in BC increased by 235% between 2000
and 2002, the 2002 average of $451 per adult was one of the lowest
per capita wagering rates in Canada. This rate is expected to climb
dramatically in the coming years as the number and size of casinos
in the province increase. Currently BC casinos are smaller that the
facilities in most other provinces. QI Systems, Inc. intends to
position the company to capitalize on the anticipated growth in the
BC gaming industry, offering smart card solutions and technical
assistance to various gaming operations. QI Systems Inc.
(http://www.qisystems.ca/) designs hardware and software for the
rapidly expanding smart card industry. The company is a world
leader in supplying top-to-bottom solutions for smart card
applications in a wide variety of industries. QI Systems Inc. has a
high level of expertise in delivering stored value solutions for
specialized needs. Matters discussed in this press release are
"forward-looking statements," and can be identified as such because
the context of the statement will include words such as "expects,"
"anticipates," or words of similar import. Statements describing
the Company's future plans, objectives or goals are also
forward-looking statements, and are subject to certain risks and
uncertainties, including the financial performance of the Company
and market valuations of its stock, which could cause actual
results to differ materially from those currently anticipated.
Consider these factors carefully in evaluating any forward-looking
statements. Forward-looking statements made herein are only made as
of the date of this press release and the Company undertakes no
obligation to publicly update such forward-looking statements. The
TSX Venture Exchange does not accept responsibility for the
adequacy of this news release and has not investigated the validity
of these claims. Approved on behalf of the Board Steven R. Garman
President & CEO QI Systems Inc. CONTACT: Steven R. Garman,
President & CEO - TEL: 604.248-2301 - FAX: 604.248.2306 -
INTERNET: http://www.qisystems.ca/ DATASOURCE: QI Systems, Inc.
CONTACT: Steven R. Garman, President & CEO, +1-604-248-2301, or
fax, +1-604-248-2306 Web site: http://www.qisystems.ca/
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