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Sungold International Holdings Corp.: Sungold International Holdings Corp.: Silks Corporation Has Been Granted a Simulcast Serv

^{Published on 2008-12-02 16:15:59, Last Modified on 2009-11-02 16:34:47 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Dec. 2, 2008) - SUNGOLD INTERNATIONAL HOLDINGS CORP. ("Sungold") (OTCBB:SGIHF)(FRANKFURT:WKN 608164, Berlin) -

Silks Corporation, an affiliate of Sungold International Holdings Corp., announces that it has been granted a Simulcast Service Provider License by unanimous vote of the North Dakota Racing Commission on November 18, 2008, and confirmed by the Attorney General's Office on December 1, 2008.

This license authorizes Silks Corporation to operate Off Track Betting locations in the State of North Dakota in partnership with Horse Race North Dakota. Most important, it also authorizes Silks Corporation to operate its online Advance Deposit Wagering site, RacingTheWorld.com, which is intended to attract customers from both the United States and Internationally.

The first Off Track Betting location, the Turf Club at Dempsey's, is located in a popular Irish Pub in downtown Fargo, North Dakota, known as Dempsey's Public House. Custom renovations for the Off Track Betting floor have already been completed by the owners, including flat screen monitors to display signals from racetracks across the country. Technical arrangements for wagering will be completed prior to the Grand Opening of the Turf Club at Dempsey's, targeted for December 13, 2008.

Once the Turf Club at Dempsey's is operating, Silks Corporation will begin the launch of RacingTheWorld.com for online wagering in the United States and Internationally.

Silks Corporation was greatly assisted in achieving this most important milestone by its partner in the Turf Club at Dempsey's, Horse Race North Dakota, and the committed support of Heather Benson, their General Manager. Ms. Benson commented, "We at the North Dakota Horse Park are excited to be a part of this venture with Silks Corporation, featuring a new standard of business for Advanced Deposit Wagering that allows the provider, the live tracks and the horsemen to all benefit together."

Information about Horse Race North Dakota is available at [ www.hrnd.org ].

About Sungold International Holdings Corp.:

Sungold^® is in the business of developing entertainment and e-commerce business in Canada, USA and Internationally. Sungold^® has three wholly owned subsidiaries: Horsepower Broadcasting Network (HBN) International Ltd., Racing Unified Network (R.U.N.) Inc., and SafeSpending Inc. Sungold^® controls the technology, source codes, trademarks, patents, copyrights and the worldwide title, rights and interest in each of the wholly owned subsidiaries. Sungold's affiliate, Silks Corporation holds a 44% interest in Silks Media Corporation which publishes ThoroughbredStyle Magazine. Sungold^® is a fully reporting public corporation trading as SGIHF-OTCBB.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: The statements in this press release that relate to the Company's expectations with regard to future impact on the Company's results from new products in development are forward looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Such information may contain statements that involve risks and uncertainties and is subject to change, at any time. The Company's results may differ materially from expected results. Information on the factors, which could affect the Company's operations or financial results, is included in the Company's reports on file with Canadian securities regulatory authorities and the United States Securities and Exchange Commission.