New York, NY -- (SBWIRE) -- 12/02/2014 -- Glorywin Entertainment Group, Inc. (OTC: GWIN), a Nevada corporation, is pleased to announce the Financial Industry Regulatory Authority (FINRA) has approved the Company's application for a name change from Zippy Bags, Inc. to Glorywin Entertainment Group Inc. and assigned a new trading symbol, GWIN.
Glorywin Entertainment Group is a leading-edge online casino expert focused on providing junket services, IT infrastructure and software programming for the online operations of 3 land based casinos in Cambodia and believes the new name more accurately reflects the Company's current business as it aligns itself as a key-player behind the exponential growth of the Asian gaming industry.
The company continues to position themselves for long-term profitability along with increased brand awareness in the market. The Glorywin team brings close to a decade of experience in the gaming industry, operating through 25 sub-junkets and continues to develop proprietary IT support to enhance their online casino platforms and gamers' experience "We have spent the past three months in Macau developing our strategy for 2015, aligning our legal, accounting and compliance personnel along with our entire executive team to move forward under the Glorywin Entertainment Group brand. The gaming industry in Macau brought in $45 billion last year which was 20% higher than the year before and 85% higher than the totals for Las Vegas. The trend continues to move upward and our company is better suited than ever to capitalize on this trend and grab an increasing share of the market" says Eng Wah Kung, the Company's Chief Executive Officer.
About Glorywin Entertainment Group Inc
Glorywin Entertainment Group Inc. is one of the largest online casino operators in the world, with approximately $1 billion in total bets placed over the past 12 months. We operate our business through introduction of sub-junkets and IT infrastructure to the casinos and receive an agreed percentage of total bets as our revenue.
Our team has an extensive background that is well-versed in areas such as technology, finance, marketing, operations and hospitality. Our company has been working as a junket for more than six years prior to our debut as a public company (GWIN) and we've consistently outperformed our peers of the same region within the gaming industry. Glorywin's last quarterly report filed on August 14th, 2014 show 10% monthly growth in rolling/total bets.
Our target market consists of anyone within legal gambling age in their respective territories across the globe, with an already established base of players mostly from Asia. Glorywin's marketing strategy allows us to promote online casino websites through our extensive list of sub-junkets including VIP Room junkets directly to clients and existing land-based casino clients.
We currently do not have any direct competitors within the Cambodia region. While most online casinos based in the Philippines are studio casinos, Glorywin provides a trustworthy experience to regulated land-based casinos in Cambodia. Macau junkets on the other hand focus mainly on VIP Rooms of land-based casinos rather than the online entertainment segment.
This news release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause actual results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential, or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Glorywin Entertainment Group, Inc. undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Visit our website at, http://glorywinentertainment.com/
Anthony W. Licausi
V.P. of Corporate Development
Investor Relations Unit
Daniels & Co.