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
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.
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