MONTREAL, May 26, 2011 /CNW Telbec/ - (TSX.V: AYA) ("Amaya") an entertainment solutions provider for the regulated gaming industry
is pleased to announce that it has signed a lottery and online gaming
collaboration and technology license agreement with the national
lottery of Montenegro ("Lutrija Crne Gore"). Under the terms of this exclusive five-year agreement, Amaya will
provide lottery and online gaming technologies and operational support
to Lutrija Crne Gore, the National lottery of Montenegro which will
include both traditional and SMS lotteries as well as be the exclusive
operator for Online Gaming on behalf of Lutrija Crne Gore in exchange
for a percentage of profits. Lutrija Crne Gore has been operating for
over 50 years and is the operator of the national lottery in
Montenegro; they have exclusivity on any and all forms of lottery.
"This first agreement in a European country follows our endeavours in
other parts of the world, namely with the Dominican Republic and more
recently, Kenya", declared David Baazov, President and Chief Executive
Officer of Amaya Gaming Group. "The growing interest demonstrated
towards Amaya's turnkey solutions for regulated gaming activities
clearly demonstrates the value of our business model. We look forward
to collaborating with Lutrija Crne Gore in the management and operation
of the national lottery in Montenegro."
"We are looking forward to integrating Amaya's turnkey solutions into
our lottery and online gaming service offering in addition to the
benefits provided by their managerial expertise gained elsewhere."
added Sava Grbovic, Chief Executive Officer of Lutrija Crne Gore. "Amaya has rapidly built a solid international reputation and was able
to clearly demonstrate their value. They have laid out a business plan
that generates the most significant incremental value for the lottery,
and also maintains the highest levels of integrity and responsibility
in all operational processes."
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
About Lutrija Crne Gore
Lutrija Crne Gore (National Lottery of Montenegro) is a Montenegro-based
company with the exclusive concession to operate the National Lottery
of Montenegro. It provides lottery services, scratch cards, toto
betting and games of chance. It has been operating for over 50 years
and has over 200 employees. For more information please visit www.lutrija.co.me
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
President and CEO
Amaya Gaming Group inc.
North America: 1-866-744-3122
Mr. Marc Jasmin, CMA
Jasmin Financial Communications inc.