CY Foundation Streamlines Deal
By Staff
Canadian online gambling software developer Entertainment Incorporated has announced that it has streamlined a contract with China’s CY Foundation Group.

The Vancouver-based firm stated that it would now be supplying CY, which operates online player-to-player tournaments, with software aimed at Chinese residents in return for a licensing royalty charge and would not be progressing with its earlier agreement with CY and Touchdown Capital Incorporated. revealed that it had sold back its exclusivity rights to CY and re-conferred before agreeing to a renewed software licensing agreement with the Chinese firm.

'According to the new software licensing agreement, the company is going to supply CY with software for the whole of the People's Republic of China and is going to be paid a licensing royalty by CY,' read a statement issued by

'We are expecting to offer CY with our merchandise and we really trust our new relationship with CY is better suitable to meet each partner’s interests in the quickly growing Chinese market,' said Jacob Kalpakian, President and Chief Executive Officer for Entertainment.

CY was also been linked in a joint marketing and operations contract with AsianLogic Limited previously this year with the objective of building a pan-China online gaming network.

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