Parlay Entertainment Announces Software Licensing Arrangement with Entraction Operation Limited
OAKVILLE, CANADA — Parlay Entertainment Inc. (TSXV: PEI), the world’s leading supplier of Internet and TV bingo software solutions, today announced the completion of a software licensing arrangement with Entraction Operation Limited of Sliema, Malta.
The agreement provides for the launch of a European-facing online bingo network, powered by a software platform that combines Parlay’s front-end bingo and gaming products with Entraction’s back-end administration system. The European-facing network will be based in Malta and managed by Entraction.
Scott White, CEO of Parlay, said, “By combining the strengths of Parlay’s industry-leading bingo games with Entraction’s expanding footprint in the European gaming market, we anticipate the creation of a compelling bingo network solution, which will see the launch of multiple brands in the coming months. The Entraction network is expected to launch at the end of May 2009,” continued Mr. White, “and Parlay anticipates it will achieve critical mass very quickly in Q2.”
Peter Åström, CEO Entraction said, “With Parlay’s launch of their new multi-lingual, multi-currency bingo platform, Entraction will now be able to focus on the growth of bingo as a core business offering which we expect will complement our rapidly expanding European gaming network. We plan to offer the bingo platform to both existing and new partners, allowing us to make a serious commitment to growing this area of our business.”
“We are delighted to have finalized our launch plan with Entraction,” continued Mr. White, “and we look forward to assisting our new partner in the expansion of their online bingo initiative”.
About Parlay Entertainment
Parlay Entertainment Inc. is the world’s leading developer and licensor of Internet and TV bingo solutions. As the inventor and holder of Internet bingo¹ patents, Parlay was the first company in the world to develop and deploy a commercial Internet bingo product. Parlay Bingo is available in 75-, 80- and 90-ball versions and is complemented by a full suite of lottery and casino games. Our multi-player, multi-platform technology is used to power more online bingo sites than any other software provider in the world. Some of the world’s best known brands use Parlay solutions, including Virgin Media, Yahoo!, Littlewoods, NetPlay TV and the St. Minver and TGN bingo networks. Parlay’s head offices are in Oakville, Canada with offices in Bridgetown, Barbados, and Valletta, Malta.
Entraction is an international group in the digital gaming industry.
Entraction Holding works with overall issues concerning strategy and business development, as well as financing and the supply of competence for the group. The company assesses on an ongoing basis business opportunities that can reinforce and develop the group’s supplier operations. Entraction Solutions offers complete systems for Internet gaming and runs one of the largest poker networks in the world. The company offers its partners software for poker, betting, casino and bingo, and ancillary services such as web design, gaming licences, operations, payment solutions, promotion tools and 24-hour support for end customers.
The poker network is run by subsidiaries in Malta, which are licensed to market and carry out their own gaming operations, and to deliver gaming services for partners in the poker network.
Entraction Holding AB is listed on the First North Premier and has approximately 7,800 shareholders. The company’s Certified Advisor is Remium AB. Learn more at www.entraction.com.
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.
The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this release.
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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