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Announcements
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October 28, 2008 - GIG Launches Live Operation with Sunderlands |
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Interactive Systems Worldwide, Inc. announced today that its wholly owned subsidiary, Global Interactive Gaming Limited (GIG), has initiated limited in-run live wagering with SOL (NV) Ltd., a sister company of Sunderlands Online Limited (Sunderlands), utilizing the integrated version of its SportXction(R) Sports Wagering product.
In addition to operating their own gaming website, Sunderlands also provides bookmaking services through white-label, joint venture agreements to betting shops throughout Europe through its sister company, which is licensed in Curacao. Live in-run wagering utilizing the SportXction(R) product has commenced in affiliated betting shops in Italy, and is expected to be expanded to betting shops in Greece and Cyprus shortly.
Under the terms of an agreement signed in late May 2008, the SportXction(R) play-by-play sports betting system will also be incorporated into Sunderlands' own website, http://www.sunderlands.eu. The integrated version of the SportXction(R) system is expected to launch on Sunderlands' website later this year. This launch is subject to receiving the necessary approvals from the appropriate regulatory bodies.
Sunderlands did not previously offer its customers any in-run wagering, i.e. wagering during a sporting event. The agreement calls for GIG to be Sunderlands' primary in-run betting provider. The agreement provides GIG with a share of the monthly wagering revenue, subject to certain monthly minimum fees. The agreement between Sunderlands and GIG is for an initial 18-month term.
The original implementation plan, as previously announced, called for an initial implementation of an enhanced version of the Company's stand-alone product, followed by an eventual migration to the Company's integrated product. This implementation plan has been since modified to consist of a phased rollout of only the Company's newer, integrated product version.
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July 22, 2008 - Caliente to Launch Internet Version of SportXction Product |
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Interactive Systems Worldwide Inc. today announced today that its wholly-owned subsidiary, Global Interactive Gaming Limited ("GIG"), and Hipodromo de Agua Caliente S.A. de C.V. ("Caliente"), have revised their licensing and technical support agreements originally signed in August 2006.
In connection with these revised agreements, GIG will provide software and services that enable Caliente to offer the Company's enhanced play-by-play sports betting service on-line on Caliente's Internet website. It is expected that this version will launch in time for the upcoming American football season, and will run through the end of the calendar year.
Caliente is operating the play-by-play betting service using its own personnel. The wagering opportunities will be offered in both English and Spanish to the patrons. GIG will provide initial set-up support, software customization, and will provide on-going technical assistance. These services will be provided on a "time and materials" basis. The agreement specifies an up-front payment to GIG, as well as monthly license fees based on a share of the revenue derived from the enhanced play-by-play betting service.
Under these revised agreements, the SportXction(R) System will no longer be offered in the Race & Sports Books operated by Caliente.
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June 29, 2008 - ISWI Subsidiary Signs Contract With Sunderlands |
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Interactive Systems Worldwide, Inc.'s wholly-owned subsidiary, Global Interactive Gaming Limited (GIG), has signed a contract with Sunderlands Online Limited (Sunderlands).
Under the terms of the agreement, ISWI's SportXction(R) play-by-play sports betting system will be incorporated into Sunderlands' website, www.sunderlands.eu as well as into several other related European and Asian websites through Sunderlands' joint venture agreements. The system is expected to launch later this year.
Sunderlands does not currently offer its customers any in-run wagering, i.e. wagering during a sporting event. The agreement calls for GIG to be Sunderlands' primary in-run betting provider.
The agreement will provide GIG with an upfront fee as well as a share of the monthly wagering revenue. GIG's revenue share will be subject to certain monthly minimum fees. GIG will furnish the technology and operate the system, while Sunderlands will be responsible for promoting the product through a series of marketing initiatives. Sunderlands will also be responsible for providing first level customer support and processing customer financial transactions. In addition, Sunderlands has agreed that the SportXction(R) system will not be used to accept bets from anyone in the U.S.
The agreement between Sunderlands and GIG is for an initial 18-month term. The plan is that the initial implementation for Sunderlands will consist of an enhanced version of the Company's stand-alone product, which will require the customer to log in only once. It is the intention of both parties to migrate to the Company's integrated version of SportXction(R) product after certain technology changes are implemented in Sunderlands' back-end system.
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April 9, 2008 - ISWI Announces Extension of Agreement With Sportingbet |
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Interactive Systems Worldwide, Inc. has announced that its wholly-owned subsidiary, Global Interactive Gaming Limited (GIG), has extended its agreement with Sportingbet Plc, the online sports betting and gaming group.
The original agreement, which specified a revenue share arrangement between the companies, had been amended in May 2007 to provide fixed monthly fees to GIG. Although the original agreement expired on November 1, 2007, both companies continued to operate under its terms while negotiating an extension. The agreement has been extended at least to August 1, 2008, and specifies that GIG's monthly revenue would be determined by the larger of a revenue share percentage and a new minimum monthly guarantee. This combination of revenue share coupled with a minimum monthly guarantee will result in significantly higher monthly fees to GIG than the current agreement. This new financial agreement will be made effective retroactively to February 1, 2008. It is anticipated that the agreement will be renegotiated and extended prior to its expiration, in anticipation of the new professional football (i.e. soccer) season that starts in August 2008.
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January 9, 2007 - ISWI Subsidiary Launches New Integrated Service with Ladbrokes
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Interactive Systems Worldwide,
through its wholly-owned subsidiary in London,
Global Interactive Gaming Limited ("GIG"), has initiated its
integrated and enhanced in-run live betting service in cooperation
with GIG's partner, Ladbrokes eGaming ("Ladbrokes").
Under the terms of the agreement, GIG is providing software and
services to allow Ladbrokes to offer timely, play-by-play betting
throughout the course of a sporting event. The betting markets are
fully integrated and offered alongside Ladbrokes' existing offerings,
through its Internet betting site, www.ladbrokes.com.
In this non-exclusive arrangement, which will provide GIG with a
share of the wagering revenue, GIG will manage certain in-run
play-by-play wagering markets that would be offered in conjunction
with other more traditional markets that are already managed by
Ladbrokes. The markets will be offered in multiple languages, and
wagers will be accepted in multiple currencies. Ladbrokes' Bet-In-Play
zone already features a statistics center, live news and scores and
text commentary. GIG utilizes the SportXction(R) System, developed by
ISWI, to administer the markets as well as to manage gaming risk of
these primarily short-term, play-by-play oriented, betting
opportunities, offered during a live sporting event.
Bernard Albanese, CEO of ISWI, said, "We are very pleased to have
launched this unique new service with Ladbrokes, the world's largest
bookmaker and a major force in the gaming industry. This partnership
allows Ladbrokes to offer their customers the most comprehensive
in-run betting service available to the public. This event, in
combination with other recent launches represents a new phase for the
Company, one in which we hope to see substantially increased revenues
through our existing partners, as well as new opportunities for
additional license and partnership relationships."
David Briggs, Commercial Director of Ladbrokes eGaming, said, "We
are excited to be able to offer the innovative betting opportunities
made possible by the SportXction(R) System. This service will enhance
our live betting service by giving our customers a more complete live
betting experience allowing many more wagering opportunities during
the live sports event."
The agreement with Ladbrokes is for an initial 18-month term.
Ladbrokes will make the SportXction(R) System available for all of the
currently available sports of football, cricket, golf, tennis, rugby,
basketball, snooker and darts.
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Decenber 6, 2006 - GIG Signs Contract with BetShop Group |
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Global Interactive Gaming Limited has signed a contract with a
subsidiary of BetShop Group (Europe) Ltd. (BetShop) and part of
Leisure & Gaming PLC (LSE: LNG.L). Under the terms of the
agreement, ISWI's SportXction(R) play-by-play sports betting
system will be incorporated into BetShop's website,
www.betshop.com. The system is expected to launch by the end of
this year. The agreement will provide GIG with a share of the
wagering revenue. GIG will furnish the technology and operate
the system, while BetShop has committed to promoting the product
through a series of marketing initiatives. BetShop will also be
responsible for providing first level customer support and
processing customer financial transactions. In addition, BetShop
has agreed not to use the SportXction(R) System to accept bets
from anyone in the U.S. BetShop does not currently offer its
customers any in-run wagering, i.e. wagering during a sporting
event. The agreement calls for GIG to be BetShop's exclusive
in-run betting third party provider. The agreement between
BetShop and GIG is for an initial 1-year term. The initial
implementation for BetShop will consist of an enhanced version
of the Company's stand-alone product, which requires the
customer to log in only once. BetShop will continue to evaluate
the deployment of the integrated version of SportXction(R).
BetShop expects to make the SportXction(R) System available for
soccer, cricket, golf, tennis, rugby and basketball. |
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December 5, 2006 - GIG
Launches with SportingBet |
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Global Interactive Gaming Limited has launched an enhanced in-run live betting product with Sportingbet Plc, the online sports betting and gaming group.
GIG is providing software and services to allow Sportingbet to offer timely, play-by-play betting throughout the course of a sporting event. The betting markets, which are integrated and offered alongside Sportingbet's existing offerings, are deployed across Sportingbet's websites throughout Europe.
This new service provides GIG with a share of the wagering revenue. GIG is managing certain in-run "play-by-play" wagering markets that are offered in conjunction with other more traditional markets that were already managed by Sportingbet. The management functions performed by GIG will include creating, opening, suspending, closing and settling the markets. The service will also include the setting of the initial odds as well as the subsequent changing of the odds as the game situation dictates. GIG will not be involved in the acceptance of any wagers and Sportingbet will manage the financial risk for these new markets. |
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September 7, 2006 -
Caliente Goes Live with GIG System |
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Hipodromo de Agua Caliente S.A. de C.V. (Caliente), one of Latin
America's largest gaming companies, has gone live with the
SportXction System in ten locations. Caliente owns and/or
provides services to 160 betting shops, known as Race & Sports
Books, throughout Mexico, Central and South America and the
Caribbean. The SportXction System software is licensed from
Global Interactive Gaming Ltd. (GIG), a wholly owned subsidiary
of ISWI, through agreements signed in August. Under the terms of
the agreement, GIG provided software and services that enabled
Caliente to offer this enhanced play-by-play sports betting
service in all of its Race & Sports Books locations. The soft
launch is expected to run for approximately three months, after
which time the SportXction system will be rolled out throughout
Caliente's Race & Sports Books. The enhanced betting
capabilities are also expected to be available on Caliente's
website in the future. Caliente is operating the play-by-play
betting service using its own personnel. GIG has provided
initial set-up support and some software customization and
training, and will provide on-going technical assistance. The
agreement specifies monthly service fees for technical
assistance, as well as monthly license fees based on the handle
derived from the enhanced play-by-play betting service. The
agreement between Caliente and GIG is for an initial 3-year
term. Caliente expects to make the SportXction system available
for American football, baseball, soccer, golf, tennis and
basketball. Caliente offers its wagering opportunities in both
English and Spanish. |
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August 11, 2006 - GIG
Signs License Agreement with Caliente |
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Global Interactive Gaming Limited, (GIG) has signed an agreement
with Hipodromo de Agua Caliente S.A. de C.V. (Caliente), one of
Latin America's largest gaming companies. Under an initial
three-year agreement, ISWI's first non-European partnership, GIG
will license its SportXction(R) software and services to
Caliente. With the SportXction system, Caliente will be able to
offer enhanced play-by-play sports betting in the more than 160
betting shops or Race & Sports Books it owns and operates.
Caliente will also be able to provide these operational services
throughout Mexico, Central and South America, and the Caribbean.
The enhanced betting capabilities will be available on the
Caliente Web site as well. Using its own personnel to operate
the SportXction play-by-play wagering system, Caliente will
utilize GIG's software and services for initial set-up support,
some software customization and training as well as on-going
technical assistance. The agreement specifies payments upon
contract signing, monthly service fees for technical assistance,
and monthly license fees that are based on the handle derived
from enhanced play-by-play betting. The wagering opportunities
at Caliente's shops will be offered in Spanish and English for
the sports that currently may be bet on. These include American
football, baseball, soccer, golf, tennis and basketball. |
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June 12, 2006 - GIG Signs
Letter of Intent with Caliente |
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Global Interactive Gaming Limited ("GIG"), signed a letter of
intent with Hipodromo de Agua Caliente S.A. de C.V.
("Caliente"), one of the Latin America's largest gaming
companies. 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. The letter of intent is
non-binding, but envisions a final agreement to be signed within
45 days. In the proposed agreement, Caliente will license the
SportXction(TM) 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. 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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April 20, 2006 - GIG Signs New Contract with SportingBet |
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Global Interactive Gaming Limited signed a new agreement with Sportingbet PLC, one of the worlds largest online betting and gaming Group. GIG will provide software and services to allow Sportingbet to offer an enhanced play-by-play betting service throughout the course of a sporting event. The betting markets, which will be integrated and offered alongside Sportingbet's existing offerings, will be deployed across Sportingbet's websites throughout Europe. Kenny Alexander, Managing Director of Sportingbet Europe said, "We are excited to be able to offer this seamless solution for the innovative betting opportunities made possible by GIG's system. This service will enhance our live betting service by significantly increasing our customers betting opportunities." |
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February 24, 2006 - GIG Signs Contract with Ladbrokes |
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Global Interactive Gaming Limited signed an agreement with Ladbrokes eGaming Ltd. Ladbrokes eGaming is a part of Ladbrokes plc. GIG will provide software and services to allow Ladbrokes to offer integrated play-by-play betting throughout the course of a sporting event. The betting markets will be offered initially on the Internet, with deployment across mobile phone and interactive television being evaluated. This is a non-exclusive agreement, which will provide GIG with a share of the wagering revenue. The markets will be offered in multiple languages, and wagers will be accepted in multiple currencies. |
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