| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Online Gambling Operator Invests in Blackjack Gambling Software
- Thursday, 21 Sep 2006
A leading developer of interactive gaming and gambling software and technology has recently announced that world-leading well-known online gambling operator has signed an investment agreement with an indirect subsidiary of the company and with a subsidiary, which the company formed and intends to spin off to its shareholders once certain regulatory approvals are obtained. The subsidiary was established to further develop and license the Black Jack gambling software technology to third parties based on a license fee and revenue share basis. Both the gambling software provider and the online gambling operator expect that the rising popularity of the game of Blackjack will continue to grow around the world.
As Multiplayer Poker has become one of the fastest growing sections of the online gambling market, the company believes that the Multiplayer blackjack tournaments have the chance to become similarly popular. The online gambling site's CEO said: "The Tournament Blackjack software is an exciting new addition to our group of games. We expect Tournament Blackjack to skyrocket in popularity, and we will be at the forefront of this new trend. The superior gambling software coupled with our ten-year tradition of online gambling excellence is a winning combination."
According to the current agreement, the online casino operator will invest $600,000 in exchange for 20% equity in the gambling software subsidiary, with an option to acquire an additional 30% stake in the company at a valuation of $18m. Through the added value brought by the online gambling operator's vast experience and longstanding market leadership, the current investment is expected to be a real success. | |
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