MONTREAL, Sept. 24, 2013 /CNW/ - Amaya Gaming Group Inc. ("Amaya" or the "Corporation") (TSX.V: AYA), an entertainment solutions provider for the regulated gaming industry, today announced that it has entered into an agreement with a subsidiary of Caesars Interactive Entertainment, Inc. ("CIE") to provide both its Amaya Game Office online gaming platform and extensive suite of online casino gaming content for both web and mobile applications in New Jersey, subject to all applicable licensing and regulatory approvals.
CIE is one of the largest online, mobile and social gaming companies focused on casino entertainment and is a subsidiary of Caesars Entertainment Corporation (NASDAQ: CZR), which is home to four land-based entertainment destinations in Atlantic City.
"This is an immense win for us, one that should extend our online gaming footprint significantly in the United States as well as contribute to our recurring revenue in future years," said David Baazov, CEO of Amaya Gaming Group. "It is the direct result of the investments we have made in both our Amaya Game Office platform, which has gained significant traction, and in preparation for our entry into the emerging regulated online gaming industry in the United States."
Under the terms of the agreement, Amaya anticipates receiving a share of the revenue generated by the website portal in New Jersey and a percentage of the revenue generated by the online casino games licensed by Amaya to CIE for use in the portal in New Jersey, subject to required regulatory requirements.
"The Amaya Game Office platform provides us with a turnkey solution which we plan to use to launch CaesarsCasino.com in New Jersey," said Mitch Garber, CEO of Caesars Interactive Entertainment, Inc. "It allows us to tailor our product offering and integrate seamlessly with third party content, manage relationships with our customers, and conduct cross-promotional activities with our Caesars hotels."
ABOUT CAESARS INTERACTIVE ENTERTAINMENT, INC. (CIE)
Caesars Interactive Entertainment, Inc. (CIE) was formed in 2009 and is one of the world's leading interactive social and mobile casino-themed game providers. CIE also owns the World Series of Poker, the largest and most prestigious poker tournament in the world, as well as Playtika and Buffalo Studios, two social games developers with popular titles that include Slotomania, Slotomania Adventures, Caesars Casino, Bingo Blitz and Bingo Rush. CIE also licenses its brands in legal real money gaming jurisdictions including the United Kingdom, France, and Italy. CIE is actively pursuing further expansion and acquisitions to build upon its capabilities and product portfolio, and recently launched real-money online poker in Nevada and plans to offer online gaming in New Jersey. CIE is majority owned by Caesars Entertainment Corporation, the world's most diversified provider of branded casino entertainment. Since its beginning in Reno, Nevada, more than 70 years ago, Caesars has grown through development of new properties, expansions and acquisitions. Caesars owns, operates or manages through various subsidiaries 52 casinos in six countries, primarily under the Harrah's, Caesars and Horseshoe brand names. For addition information regarding please visit: www.caesarsinteractive.com.
ABOUT AMAYA GAMING GROUP INC.
Amaya provides a full suite of gaming products and services including casino, poker, sportsbook, platform, lotteries and slot machines. Some of the world's largest gaming operators and casinos are powered by Amaya's online, mobile, and land-based products. Amaya is present in all major gaming markets in the world with offices in North America, Latin America and Europe. Amaya recently acquired Cryptologic, a pioneer within online casino, Ongame, a leader within online poker, and Cadillac Jack, a successful slot machine manufacturer. 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."
SOURCE: Amaya Gaming Group Inc.
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