Amaya Signs Licensing Agreement with Loto-Quebec Subsidiary, Société des
Bingos du Québec Inc.
Amaya to distribute SBQ bingo lottery software to cruise ship operators and gaming operators in various American states
MONTREAL, Nov. 11 /CNW Telbec/ - Amaya Gaming Group Inc. (TSX-V: AYA), an entertainment solutions provider for the gaming industry announced today the signing of a licensing agreement for the distribution of Bingo Mundo, a bingo lottery software proprietary to Société des Bingos du Québec ("SBQ"), to cruise ship operators as well as gaming operators in various American states.
Under the terms of the agreement, SBQ grants Amaya a non-exclusive, two-year renewable license for the distribution of Bingo Mundo, in exchange for a fixed percentage of the net sales generated from the use and exploitation of Bingo Mundo. Management estimates that the North American charitable bingo market currently generates $6 billion in annual revenues.
Commenting on the licensing agreement, Mr. David Baazov, Amaya's President and Chief Executive Officer, stated "we are very happy to have signed a first licensing agreement with such a renowned partner as the Société des Bingos du Québec. We believe Bingo Mundo is a perfect fit with our broad and diversified entertainment solutions and will generate valuable recurring revenues for both parties."
"We are excited to partner with Amaya for the distribution and sale of Bingo Mundo. We believe Amaya has the reach, expertise and product offering to successfully penetrate new and important markets on our behalf," mentioned Mr. François-Patrick Allard, General Manager of SBQ.
Also commenting from SBQ, Business Development Director Maxime Rodrigue, added that the "Bingo Mundo network offers bigger jackpots, bigger prize pools and more players in the participating Bingo Halls. We are looking forward to the fostering of a prosperous and long-lasting relationship that will surely generate significant revenues for both Amaya and SBQ."
About Amaya
Amaya is engaged in the design, development, manufacturing, distribution and sale of technology based gaming solutions for the regulated gaming industry worldwide. For more information please visit www.amayagaming.com
About Société des Bingos du Québec
The Société des bingos du Québec (SBQ), a subsidiary of Loto-Québec, has become a world leader in networked bingo systems. The SBQ not only develops its systems, but also operates them. This dual responsibility ensures fast installation, in-depth training and the continual updating of its system. The SBQ is thus able to provide the best financing options possible, customized and adapted to the needs of its clients
Established in 1997, SBQ's primary objective is to breathe new life into Québec's bingo industry and increase revenue for those non-profit organizations (NPOs) that have selected bingo as their source of financing.
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 |
Investor Relations Frederic Dumais, Partner Jasmin-Dumais Financial Communications 514-862-1251 [email protected] |
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