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SportXction software destined for major gaming company
Global Interactive Gaming (GIG) announced a deal with a major Latin American gambling group, Hipodromo de Agua Caliente S.A. de C.V. this week which will empower Caliente to offer advanced play-by-play sports betting on its successful race and sports books.
GIG is a subsidiary of Interactive Systems Worldwide, a publicly listed provider.
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Caliente owns or operates 160 betting shops, known as Race & Sports Books, throughout Mexico, Central and South America and the Caribbean. GIG will provide software and services which will enable Caliente to offer an enhanced play-by-play sports betting service in its Race & Sports Books. These enhanced betting markets will also be deployed on Caliente's Internet website.
Under the agreement, Caliente will license the SportXction software and then operate the play-by-play betting service using its own personnel. GIG will provide initial set-up support, some software customization, training and on-going software support. The agreement anticipates payments upon contact signing, as well as monthly license fees based on the handle derived from the enhanced play-by-play betting service. These license fees will also be subject to minimum monthly payment.
Bernard Albanese, Chief Executive Officer of ISWI, says, "This agreement signifies a number of firsts for our company: Caliente is GIG's first non-European partner and this agreement will be the first straight licensing transaction signed by GIG, where GIG will not bear the operational expenses of running the system. After a successful launch, our goal is to replicate this model in other parts of the world, and discussions are underway with other potential licensing partners."
"We are very proud of this new engagement that will revolutionize the concept of our Race & Sports Books, providing our patrons with the ultimate real-time, play-by-play betting experience," added Victor de La Fuente, Corporate Director of Wagering and New Projects for Caliente.
The wagering opportunities will be offered in Spanish to the patrons. The proposed agreement will be for an initial 3-year term. Caliente expects to make the SportXction(R) system available for the currently available sports of American football, baseball, soccer, golf, tennis and basketball.
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