Amaya wins long-term contract with Republic of Armenia

MONTREAL, Nov. 14, 2011 /CNW/ - Amaya Gaming Group Inc. (TSX.V: AYA), an entertainment solutions provider for the regulated gaming industry, today announced that it has been awarded an exclusive, 10-year contract with the the Government of the Republic of Armenia to implement a national lottery and to provide central reporting and integrity services.   Lottery programs will be deployed through both traditional sales channels and Short Message Service (SMS Lottery).

Amaya will install and deploy the Amaya Central Reporting Module (Amaya CRM) on all electronic gaming devices operating in the Republic of Armenia for the next 10 years. The Amaya CRM provides the government with real-time reporting tools to capture and monitor gaming transactions, improve tax efficiency and promote gaming integrity.  The agreement represents a significant milestone as Amaya's first mandate to install the Amaya CRM and further strengthens the Company's position as a provider of comprehensive government gaming solutions.

"We are very pleased to begin a mutually beneficial long-term relationship with the Government of Armenia," said David Baazov, President and Chief Executive Officer of Amaya Gaming Group.  "Our lottery and integrity solutions are providing us with a platform to expand our technology footprint and grow our relationships with customers in new jurisdictions."

On October 27, 2011, Armenian finance minister Vache Gabrielian first announced the collaboration in principle between the Armenian Government and Amaya to create Amaya Armenia, a joint company on a parity basis with the income from the lottery being distributed equally between the principals. The Minister expects that the partnership will secure several billion drams annually in additional revenue, with 2 billion drams expected in 2012, and 7 billion in 2013.  The Minister also announced that the Government is planning to collaborate with Amaya on the establishment of a centralized system of control and accounting to prevent fraud, money laundering and other forms of economic crime.

About Amaya Gaming Group

Amaya is engaged in the design, development, manufacturing, distribution and sale of technology based gaming solutions for the regulated gaming industry worldwide. 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, Amaya 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."

SOURCE AMAYA GAMING GROUP INC.

For further information:

Mr. David Baazov      Jeff Codispodi
President and Chief Executive Officer      The Equicom Group
Amaya Gaming Group Inc.      416-815-0700 ext. 261
North America: 1-866-744-3122      jcodispodi@equicomgroup.com
Worldwide:1-514-744-3122 
http://www.amayagaming.com

 

Profil de l'entreprise

AMAYA GAMING GROUP INC.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.