Amaya Signs Exclusive Three Year Contract for SMS Lottery
MONTREAL, Nov. 15 /CNW Telbec/ - Amaya Gaming Group Inc. ("Amaya" or the "Company") (TSX-V: AYA), an entertainment solutions provider for the gaming industry announced today that it has signed an exclusive contract to provide Short Message Service ("SMS") Lottery ("M-Lotto") services to Uganda Games and Cash (UGC). The 3-year contract will run through to 2013 and is expected to generate annual revenue for Amaya between $8-10 million. Currently it is estimated that there are 10 million mobile phone users in Uganda, out of a total population of more than 32 million people. Additionally, SMS traffic in Uganda increased by 28% in the first quarter of 2010.
Amaya's SMS M-Lotto technology includes lottery games, self-picking lottery games and scheduled lottery games. Lotto participants will be able to select their numbers through any mobile phone, in effect turning mobile phones into lottery terminals. Amaya's SMS M-Lotto allows people to play the lottery through SMS text messages without having to visit a ticket distributor.
Under the terms of the agreement, Amaya will license its SMS technologies to UGC, in addition to providing various consulting services, related thereto, in the areas of, management, marketing and advertising, technical support services and maintenance of the M-Lotto system. Furthermore, Amaya's services will offer a best practices technology approach to support UGC with the flexible tools needed to increase sales and revenue. In exchange, Amaya will receive a percentage of the net revenues generated from the use of the M-Lotto technology. Amaya anticipates that UGC SMS M-Lotto will be operational in the first quarter of 2011.
"We are pleased to have partnered with Uganda Games and Cash for this SMS Lotto initiative. As this partnership with Uganda Games and Cash grows, we will work closely to build optimal growth plans and supporting initiatives, ensuring their continued and long-term success. We are very pleased to be a part of building UGC's future strategy and are grateful for this expression of confidence on their part" stated Mr. David Baazov, President and Chief Executive Officer of Amaya.
Kenn Nyagudi, Director of Uganda Games and Cash said "We look forward to servicing the Ugandan market with the SMS M-Lotto and are extremely impressed with Amaya's technology and look forward to a successful partnership."
This announcement follows the Company's press release dated November 3, 2010 regarding the License with the Kenya Government for a nation-wide SMS Lottery. With an estimated 20 million mobile phone users, Amaya's revenue potential from the Kenya license is estimated by the Company to be between $14-18 million per year.
About Uganda Games and Cash
Uganda Games and Cash is a licensed operator of SMS Lotteries, as well other mobile phone based applications in Uganda.
About the SMS Lottery program
Amaya offers a software platform that operates mobile lotteries allowing the sale of electronic tickets by using the mobile phone as the medium of purchase, using SMS (Short Message Service) technology.
The Company's proprietary technology allows users to participate in an SMS Lottery by sending an SMS text message with specific keywords or their numbers to a shortcode, or a specially designated phone number, within a time frame. When the time frame ends, a user is selected at random as the winner and an SMS is sent to all the participants announcing the result.
About Amaya Gaming Group Inc.
Amaya is engaged in the design, development, manufacturing, distribution and sale of technology-based gaming solutions for the regulated gaming industry worldwide. Amaya's solutions are server-based and include a multi-gaming platform ("MGP10"), hardware devices, such as electronic gaming tables, multi gaming terminals, mobile gaming devices, a proprietary gaming library, a central reporting module ("Central Reporting Module" or "CRM") as well as a Short Message Service (SMS) Lottery System.
For more information please visit www.amayagaming.com
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, the Corporation does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
%SEDAR: 00029939EFFor further information:
|Mr. David Baazov |
President and Chief Executive Officer
Amaya Gaming Group Inc.
North America: 1-866-744-3122
Frederic Dumais, Partner
Jasmin-Dumais Financial Communications