The latest from GAMM . . .
Global Entertainment & Gateway Technology to Expand Internet Gaming
Horizon
Multi-million Dollar Deal Couples Sportsbook Software Innovator with
Online Casino Software Developer
January 19, 1999 07:59 AM
OMAHA, Neb., Jan. 19 /PRNewswire/ -- Interactive Gaming & Wagering (IGW), a wholly owned subsidiary of Global Entertainment Holdings/Equities, Inc. GAMM today announced a joint venture with Gateway Technology, Inc. (GTI), a wholly owned subsidiary of Chartwell Technology Inc. (Alberta Stock Exchange: CVT). The agreement teams a proven sportsbook software developer with an industry leader in online casino software.
The deal is valued at $3 million in gross revenues to IGW over the three- year term of the contract, thereby increasing the net earnings of Global Entertainment. The new joint venture expands the potential market base for IGW's Internet & Telephony Sportsbook System, as GTI has eight licensees currently using its online casino software. The IGW-GTI deal gives Internet sportsbook and casino operators an
unparalleled competitive advantage in the rapidly growing online gaming industry.
"With the combination of sportsbook and Internet casino software, we are ahead of the pack in offering an overall superior product," said Bryan Abboud, president of IGW. "Our contract has the potential to provide outstanding opportunities for sales agreements with GTI's current licensees."
IGW's Internet & Telephony Sportsbook System is designed to provide ease of use for both online gaming operators and consumers. The software also offers the highest level of security, customization options, the opportunity for oversight in accounting and reporting, as well as the ability for multi-lingual interface.
"We are excited about working together with IGW, a pioneer with a proven track record in developing cutting-edge sports wagering software," said Steve Latham, president of GTI.
Gateway Technology, Inc. (www.gatewaytelecom.com) is headquartered in Laguna Hills, California. Founded in 1996, the company has become a world leader in Internet based gaming and commerce. GTI's technical engineering team has produced a complete Java based package of casino software games called Casino Casino. The company supplies both land and Internet based casino operators with online gaming solutions.
With headquarters in Omaha, Nebraska, Global Entertainment Holding/Equities, Inc. was founded in 1997 and provides financial consulting, investment banking and funding for its subsidiary, IGW. IGW, based in Willemstad, Curacao, developed the Internet & Telephony Sportsbook System, a leading turnkey software package for online sportsbook operators. [This news release contains certain forward-looking statements about the company that are based on management's current expectations and is not intended to imply or suggest the future performance of the company.]
SOURCE Global Entertainment Holdings/Equities, Inc. |
