Roulette Feed Cancelled By NetPlay
5th January, 2010
UK interactive gaming company, Netplay TV has ended its contract with Stanley bet after reviewing a pilot trial which provided a live roulette feed to the leading online bookmaker.
Initially the contract was finalized in July and would have seen both Netplay TV and Stanley bet launch live gambling including roulette into overseas outlets.
“Following a review of the pilot trial, the company has decided to cease supplying StanleyBet International with a live roulette feed to its overseas betting outlets,” said a statement from NetPlay TV.
“The company will continue to develop its supply of live feeds into fixed-odds betting terminals through other distribution channels in fully regulated markets.”
The company continued to announce the acquisition of quiz and mobile casino service, info-download ltd. Netplay TV revealed that they have agreed an initial consideration of £750,000 for the company and has consented to a defererred payment of £250,000. They said that the deferred consideration would be satisfied by issuing 961,538 new ordinary shares at a pre-agreed price of 26 pence each.
“The shares are subject to a twelve-month hard lock-in from completion date and then an orderly market agreement thereafter,” read a statement from NetPlay TV.
“The mobile quiz revenues have remained constant since acquisition while the mobile casino revenues have shown exceptional growth. Total bets placed through the mobile casino platform were £900,000 for the month of November and continue to grow on a month-by-month basis.”
As part of the settlement, net play TV will cease paying Zed worldwide for the global distribution of its products. The company in return has agreed to assist Netplay TV through its mobile network relationships.
“Furthermore, as a consequence of entering into the five-year strategic deal with Playtech, the company no longer has a requirement for Zed Worldwide to develop mobile side games,” read a statement from NetPlay TV.
“Through its agreement with Playtech, the company is now able to offer in excess of ten mobile side games with jackpots exceeding £200,000.”
By Faye
