|The Gaming & Entertainment Group, a leading US provider of advanced server-based gaming systems and downloadable games, has announced it is moving into the lucrative UK fixed odds betting market, announcing the release of a range of video-based roulette games and the completion of its slot operating system for the arcade market and Licensed Betting Offices.|
Bricks and mortar UK bookies have enjoyed record profits since the government approved the introduction of fixed odds terminals (FOTs) into their premises, and the Gaming & Entertainment Group that the sale of 300 devices will generate revenue of $1.8 million for the second half of 2004.
'We have always been at the leading edge of gaming systems development,' said Gaming & Entertainment Group's Chief Executive Officer, Tibor Vertes, 'but now we have totally redeveloped our platform to simultaneously support standalone AWP video-based gaming machines, local clusters of multi-player machines, wide-area networked games, and our Internet system.'
'The ability to rapidly develop and deploy new games has become ever more critical to AWP arcade operators and LBO owners alike,' said Kevin Burman, GMEI's Chief Operating Officer, who is responsible for the Company's UK business development. 'We have seen the emergence of FOBT games in LBO's, followed almost immediately by industry lobbying that led to the introduction of similar roulette and bingo games in AWP arcades and bingo halls. Our new platform will allow game developers to build and deliver exciting new games to the industry without ever again having to worry about the hardware itself. Most importantly, operators will no longer need to move gaming machines physically around the country.'
The company intends to use a portion of the $2.445 million in gross proceeds from its recent private placement to deploy AWP and FOBT roulette machines in the United Kingdom on both an outright sale and revenue-sharing basis.