Amaya Gaming Group deploys new Technology in the Caribbean - Five-year deal
guarantees Amaya $1.6 Million minimal revenues over five years
MONTREAL, Sept. 2 /CNW Telbec/ - Amaya Gaming Group Inc. (AYA on the TSX Venture Exchange), a pioneer in the field of electronic devices and software for the gaming industry announces the first deployment of its proprietary Mosino hospitality gaming system. Under the terms of an agreement with Carigaming Solutions Ltd, 180 Mosino units will be deployed across several locations in the Caribbean by the end of September, 2010 guaranteeing Amaya minimal revenues of $1,642,500 over the next five years through a product participation lease.
Commenting on this significant milestone, Mr. David Baazov, President and Chief Executive Officer of Amaya stated: "We are extremely pleased of our agreement with Carigaming Solutions Ltd., we have invested many years developing the Mosino technology and are very confident that this initial deployment will act as a powerful showcase driving additional business in the future. More so, through a product participation lease formula, we can count on minimal guaranteed revenues over the next five years while participating in the upside provided by our solutions."
Speaking about the new collaboration on behalf of Carigaming Solutions Ltd., Mr. John Charles, Managing Director of Carigaming Solutions added; "We are delighted of our collaboration with Amaya Gaming Group. The Mosino system is precise and user-friendly and will act as an interesting enhancement to the current gaming experience. We will closely monitor its acceptance by our clientele in the Caribbean, and will consider deploying additional systems in the future."
About Amaya Gaming Group Inc.
Amaya is engaged in the design, development, manufacturing, distribution and sale of technology based gaming solutions for the regulated gaming industry worldwide. Amaya's solutions are server-based and include a multi-gaming platform, hardware devices, a proprietary gaming library, and a central reporting module that protects the integrity of an entire jurisdiction's gaming operations by tracking gaming revenue for auditing and tax purposes. Amaya's solutions are designed to improve gaming operator profitability, productivity and security while providing players with popular and cutting-edge gaming entertainment content and maximizing their playing experience. Amaya continues to develop gaming solutions and services for the markets it currently serves as well as to address new domestic and international opportunities.
About the Mosino System
The Mosino system is a proprietary gaming system allowing hospitality industry participants to offer gaming and other services on a variety of devices, fixed or mobile;
- Can be loaded with any selection of p2p or house-banked games - Networked or stand-alone play - Capable of streaming media and targeted advertising - And provides other interactive services
About Carigaming Solutions Ltd.
CGS is a casino management company based in the Caribbean with offices in Trinidad, Tobago, Jamaica, Dominican Republic and the UK.
CGS currently operates ten casinos in the Caribbean and have a range of services to meet the requirements of any casino project worldwide. Our management team comprises of experienced professionals from South Africa, South America, the Caribbean and the UK.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, the Corporation does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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For further information: Mr. David Baazov, President and Chief Executive Officer, Amaya Gaming Group Inc., North America: 1-866-744-3122, Worldwide: 1-514-744-3122, http://www.amayagaming.com
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