|Interactive Gaming Holdings (“IGH”) today announces that it has signed a revenue sharing agreement with the leading on-line, London listed gaming company, Sportingbet plc.|
The white label revenue sharing agreement with Sportingbet plc is to develop IGH’s oneworldsportsbook.com property. Under the terms of the agreement, IGH will provide the gateway website to oneworldsportsbook.com, including taking responsibility for the customer-facing website. The actual operation and risk management of the oneworldsportsbook facility will be carried out by Sportingbet. The revenue sharing arrangement of this agreement is based on a monthly payment made by IGH to Sportingbet based on IGH’s monthly net revenue.
Commenting, Thomas J. Taulé, Chief Executive of IGH said: “I am very pleased to announce this revenue sharing agreement with Sportingbet plc. Sportingbet is one of the premier gaming companies and has over 1,000,000 customers. This is another important step forward in the development of IGH’s business”
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Notes to Editors
· The Company
IGH is a new company that has been established to acquire majority or total ownership of content portals and other related e-gaming sites within the e-gaming sector. The Company was admitted to trading on AIM on 05 March 2004. The Company operates e-gaming content portals with, what the Directors consider to be, easily recognised and potentially product leading domain names to generate profits from its “white label” gaming properties and advertising revenue.
· E-Gaming Industry
E-gaming has experienced strong growth over the past five years, and the Directors believe that growth will continue. The anticipated key drivers of industry market growth include:
· Higher levels of internet penetration, particularly in non-Western regions of the world;
· Existing non-internet gamblers discovering the advantages of utilising the internet as an additional means by which to gamble; and
· The continued worldwide growth in the numbers of active games playing individuals on the internet.
According to research published in 2003 there were estimated to be nearly 9 million internet gamblers, of which 2.3 million were identified as being in North America, 2 million in Western Europe and nearly 3 million in Asia. According to research published by an independent specialist consultancy, in 2003 online gaming revenue (gross win) was approximately $6 billion.