|Online software giant Playtech has announced its latest expansion into the Chinese market, having just signed a contract with Foundation Group Limited (“Foundation Ltd”) to supply Peer to Peer (P2P) gaming software within China.|
Foundation Ltd is a listed company in Hong Kong and is a new venture, whose subsidiary, has recently signed licensing agreements with an operating arm of the Communist Youth League (CYL). CYL is responsible for the implementation of China’s ‘Green Internet Policy’, so as to provide duly licensed play for cash prizes P2P tournament games via Internet cafés situated throughout China.
“Although Foundation Ltd is in the very early stages of its development, its potential is very exciting for Playtech and we look forward to working closely with Foundation to develop this potential,” said Avigur Zmora, Chief Executive of Playtech.
This is the second contract that Playtech has signed to supply the Chinese market in the past three months and the first nationwide contract of this nature.