Software Agreement Extended By Sportingbet
By Staff
America’s Interactive Systems Worldwide Incorporated has announced that its Global Interactive Gaming Limited (GIG) subsidiary has extended a software agreement with online sportsbetting and gaming group Sportingbet until the end of 2011.

The West Paterson, New Jersey, firm stated that the financial terms of the previous agreement regarding GIG's fees would remain unchanged and be extended for the duration of the new deal. It said that GIG would continue to receive monthly fees of the greater of a revenue share percentage or a minimum monthly guarantee.

In addition, Sportingbet has agreed to provide GIG with an advance payment amounting to a portion of the next three years' monthly minimums o ver a series of four quarterly instalments. In return, London-based Sportingbet has received a five-year warrant to purchase 500,000 shares in Interactive Systems Worldwide at 50 cents each.

'We are extremely pleased with Sportingbet's decision to extend the agreement for another three years,” said Bernard Albanese, Chief Executive Officer for Interactive Systems Worldwide.

“It validates the uniqueness of our offering and attests to their satisfaction with our services. Sportingbet is one of the premier online gaming companies in the world and we are proud to be associated with them in this strategic relationship.'

Online Casino provides online gamblers with information on online casino gambling, sports betting tips, wining casino tips, internet casino reviews, sports odds, matchups, results, editorial and much, much more… We also have an industry insider’s section including Internet gaming press releases, a calendar of events and gaming industry news.
Bluff Europe: Europe's leading Poker Magazine brings you the latest Poker News, Player Interviews and all the best Online Poker offers Poker in the Park: Europe's largest Poker Festival.