|Ipswich, UK, July 11, 2002 - Parlaycard Limited has announced that it is severing its partnership and software licensing agreement with Play121 Limited under which that company operates the website Parlaycard.com.|
At its July 8th board meeting, the directors of Parlaycard Limited voted to end the relationship with Play 121 and move forward in a new direction in which the company obtains its own gaming license under which to operate the website Parlaycard.com. The board cites the reason for the split as a difference in vision for the URL and also concerns about the financial stability of Play121 Limited.
Parlaycard Limited licensed its proprietary software and URL (Parlaycard.com) to Play121 as its sole licensee and began operations in September 2001. The company was run under the gaming license of Play121 Limited which holds a bookmaker's permit in the United Kingdom.
Parlaycard Limited is actively seeking a new license and venue to host ongoing operations. Directors are optimistic this will be resolved in the next week or so.
The company wants to emphasize that this change will not affect customers of Parlaycard.com in any way. 'Players can continue to wager and have confidence their accounts are safe,' said Michael E. Bruney, Director.
The change will give Parlaycard.com stronger resources and help the company continue to build new strategic alliances. With the ultimate goal of providing customers a diversified and satisfying menu of betting options.