Microgame to Launch Two New Online Bingo Networks Powered by Parlay Software
Parlay Entertainment Inc. (TSX VENTURE:PEI) and Microgame S.p.A. are pleased to jointly announce their intention to launch two online bingo networks. Each network will be powered by an Internet platform that combines Parlay’s Internet bingo, casino and other soft game products with Microgame’s existing game management and administration infrastructure. Microgame currently offers sports and poker wagering into the tightly regulated Italian marketplace.
The first network to be launched will offer bingo into the Italian marketplace, once the Italian government has added bingo to their list of regulated Internet games, which Microgame anticipates will occur in Q1 2009. A second network, most likely to be based in Malta, is targeted for launch in Q2 2009 and will offer the games to an international marketplace.
Scott White, Chief Executive Officer of Parlay Entertainment, said: “We are delighted to partner with Microgame to offer our leading edge games in Italy, which will be a new regulated marketplace for Parlay and for bingo. We view the opportunity with Microgame, making use of their existing relationships, infrastructure and large customer base in Italy, as an excellent way to enter this new market for bingo.”
Fabrizio D’Aloia, Managing Director of Microgame, said: “Microgame is honoured to collaborate with Parlay, the first commercial supplier of Internet bingo software in the world, as its partner for the Italian market. The agreement will allow Microgame to offer Italian gaming operators served by it the opportunity to immediately enter this new market as protagonists and with success by combining the powerful characteristics of Parlay bingo with the functionalities of Microgame’s regulated gaming service provider.”
“Parlay has been a first mover and market innovator in Internet bingo for more than 10 years,” added Mr. White. “We have been and will continue to be committed to the growth of bingo in new regulated marketplaces, particularly in Europe. The opportunity to participate with an experienced, regulated and credible operator in Italy will help Parlay accelerate our time to market.”
About Parlay Entertainment
Parlay Entertainment Inc. is the world’s leading developer and dominant licensor of Internet bingo solutions. As the inventor and holder of Internet bingo patents¹, Parlay was the first company in the world to develop and deploy a commercial Internet bingo product. Parlay Bingo is available in both 75-number and 90-number versions and is complemented by a full suite of lottery and casino games. Our multi-player, multi-platform technology powers more online bingo sites in more countries than any other software provider in the world. Some of the world’s best-known brands use Parlay Bingo solutions, including Virgin, Yahoo!, Paddy Power, Bet24, NetPlay TV, Bingos.com as well as the St. Minver and TGN bingo networks. Parlay’s head offices are in Oakville, Canada with offices in Bridgetown, Barbados and Valletta, Malta.
Microgame S.p.A., founded in 1996, is an independent Gaming Service Provider authorised by the Italian Ministry of Economy and Finance - Autonomous Administration of the State Monopolies (AAMS). Microgame is one of the Italian market leaders and Service Provider number one for remote gaming. At present, Microgame manages more than 750,000 online gaming accounts. In 2007 Microgame generated gaming turnover exceeding 440 million EUR and proceeds of more than 15 million EUR. The English private equity fund Cambria Ltd. (FSA regulated) recently became investors in Microgame together with other institutional investors.
For more information on Parlay solutions and services, please visit our Web site at www.parlaygroup.com.
This document may contain statements about expected future events and/or financial and operating results of Parlay Entertainment Inc. that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.
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¹ United States Patent No. 6,585,590, Canadian Patents No. 2,340,152 and 2,618,843, with other Patent applications pending in other countries.
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