Calgary, Alberta – TheNewswire - July 26, 2023 / VIP Entertainment Technologies Inc. (TSXV:VIP)  (OTC:VETIF)  (“VIP” or the “Company”) is pleased to announce that Bob Lunde has been appointed as the new Chief Executive Officer (“CEO”). Bob Lunde, who became a director in February 2023 has become instrumental in formulating the companies metaverse and AI strategies-see previous news release dated June 8, 2023.

 Mr. Lunde has been involved with numerous public companies in the past in officer and director roles. With his operational experiences and his 40 years in and around the capital markets, the Board of VIP feels Mr. Lunde can best leverage his contacts and relationships as the CEO of the company.

Joel Donais has resigned as CEO but will remain on the board of directors. The Company would like to thank Joel for his participation and efforts as CEO while the company transitioned from a private entity to a publicly traded company. 

Mr. Lunde stated “I am happy to assume the role of CEO at this time as VIP has very specific initiatives to be activated over the coming months that should increase efficiencies in both acquiring new customers and enhancing their experience on our site, leading to higher customer retention and potentially increased revenues and margins per client. As part of this endeavour, we will be utilizing certain AI technology to enhance our product efficacy as part of an ongoing strategy to distinguish VIP from its competition.”

About VIP Entertainment Technologies Inc.

VIP delivers sports betting, casino games and poker through its VIP Bets platform. In addition, it has recently launched its Free to Play platform, VIPFree2Play which offers engagement and entertainment tools to users around the world. The Company is focused on a growth through acquisition strategy to increase its core business in the gambling and gaming industry steering itself into a premier entertainment gaming company. Since 2016, VIP has handled approximately $150,000,000 in wagers through its licensed online gaming services.

For further information please visit www.vipentertaingroup.com or contact:

Bob Lunde - Chief Executive Officer

+1-604-763-1034

bobl@vipentertaingroup.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results, developments, performance or achievements that VIP anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass.

Forward-looking statements are based on assumptions, including expectations and assumptions concerning the metaverse and the Company’s growth plan. While VIP considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive and other risks set out in public disclosure recorded and filed under the Company’s profile on www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. For more information on the risk, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the public filings of VIP Entertainment Technologies which are available on SEDAR at www.sedar.com. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change thereafter. VIP Entertainment Technologies Inc disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.