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Contract signed with Foundation Group Limited to supply peer to peer gaming software within China.
After several weeks of speculation the news is finally out - Playtech's Asian-facing gaming deal is with Foundation Group Limited and will involve the supply of peer to peer gaming software within China.
In an announcement today the turnkey provider and games developer said that further to its previous announcement regarding early stage negotiations with a pure Asian-facing gaming business, Playtech is pleased to announce that it has signed a contract with Foundation Group Limited.
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Foundation Ltd is a listed company in Hong Kong and is a new venture whose subsidiary has recently signed licensing agreements with an operating arm of the Communist Youth League (CYL). CYL is responsible for the implementation of China�s �Green Internet Policy� so as to provide duly licensed play for cash prize P2P tournament games via internet caf�s situated throughout China.
Foundation Ltd is currently undertaking a fund raising exercise. Further details of the company�s plans are therefore restricted at this stage, Playtech discloses in the statement. It is intended that Playtech will give a further update regarding this contract sometime later this month.
This is the second contract that Playtech has signed to supply the Chinese market in the past three months and the first nationwide contract of this nature.
Avigur Zmora, Chief Executive Officer of Playtech, commented: "Although Foundation Ltd is in the very early stages of its development, its potential is very exciting for Playtech and we look forward to working closely with Foundation to develop this potential.�
$400 K IN POKER TOURNEY SPONSORSHIPS FROM MICROGAMING THIS WEEK
If you're aiming to finance big tournament play with satellite sponsorships this could be for you
Following a bumper week of satellite tournament action on the Microgaming Poker Network, the software provider has revealed that 34 satellite winners from 17 poker rooms on the network have scooped a total of $400 000 worth of buy-ins to some of the biggest land-based tournaments in the world.
In the last week, 20 players from eight different card rooms won $9 000 packages to the EPT Dortmund event � starting this week, while ten more packages, valued at $16 600 each, were won to the EPT Monte Carlo event (28 March - 1 April). And Sunday (4 March) saw the conclusion of the first of a number of online finals for the WSOP main event, where four more lucky winners picked up packages worth $15 000 each.
Microgaming Poker Network is also running satellites to six further WSOP events, offering a first prize of $50 000 worth of buy-ins (to be spent on the player�s choice of tournaments), up to 60 days worth of 5-star accommodation, two return flights to Vegas and a useful $3 500 spending money.
Roger Raatgever, CEO Microgaming says, �We believe it�s not enough for a network to just offer buy-ins to the best land-based tournaments in the world, which is why all our operators� players are personally looked after by our dedicated Microgaming event team. Every one of their needs is catered to, from travel and accommodation through to on the ground support at the tournaments themselves. This is just another of the many reasons why more and more operators are choosing to move to our network every month. We wish all our players the best of luck in their upcoming tournaments.�
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