|Palace World Leisure SA ('The Palaces'), announced yesterday that it has entered into a licence agreement with dot com Entertainment Group, providing for the launch of www.thepalaces.com, which is scheduled to commence business in late April, 2002.|
The Palaces entry into on-line Bingo establishes a critical turning point for the on-line Bingo industry. www.thepalaces.com will be the first on-line Bingo Hall to offer links to a reputable land-based Bingo business. Just as the participation in Internet gambling by some of the large land-based Casino brands is legitimizing the on-line Casino sector. The Palaces also intends to launch an online casino.
dot com is a leading supplier of Internet Bingo technology, being one of the first companies in the world to develop and license multi-play, pay-for-play Bingo technology. dot com is focused on the development, delivery and support of Internet entertainment software systems, such as on-line Bingo, on-line Casino and other related products and services.
The Palaces is owned, managed and operated by Mr. Patrick Duffy of Palatial Leisure Limited, trading in the United Kingdom as Palace Bingo Clubs Cinemas and Casinos.
Mr. Duffy will be able to extend the success of his land-based and satellite Bingo business to an international audience, on a 24/7 basis as a result of the agreement.
The Palaces will provide a unique, first mover advantage to Mr. Duffy, giving him the ability to cross-promote his land based Bingo business through the Internet, while at the same time allowing him to substantially extend his reach beyond 65+ Bingo halls, which presently link into his games throughout the British Isles.
Recent changes to legislation in the United Kingdom, which will blend land-based Casino and Bingo businesses, will also provide for a unique opportunity for Mr. Duffy to promote an on-line Casino suite, which will launch later in 2002.
'We are delighted to announce the establishment of this new company, which has licensed dot com's on-line Bingo and Casino technologies,' said Patrick Duffy. 'We have opted to use dot com simply because we view their product as the best available on-line Bingo software which gets closer than any other provider to the true BINGO CLUB experience. Our management have found dot com's systems to be a treat to operate, giving us full control of our on-line business.
“On top of all this, the team at dot com have proved to be very honest, reliable and decent people to deal with, which is very important not only in an Internet business, but it is vital to the integrity of our United Kingdom operation. This relationship will benefit us as the Gaming industry is very heavily regulated in the United Kingdom and it is our intention to relocate The Palaces to that country as soon as legislation will allow in some 1-2 years.'