ISWI Subsidiary Signs Contract with BetShop Group
December 06 2006 - 8:30AM
Business Wire
Interactive Systems Worldwide, Inc.�s (NASDAQ: ISWI) wholly-owned
subsidiary, Global Interactive Gaming Limited (GIG), has signed a
contract with a subsidiary of BetShop Group (Europe) Ltd. (BetShop)
and part of Leisure & Gaming PLC (LSE: LNG.L). Under the terms
of the agreement, ISWI�s SportXction� play-by-play sports betting
system will be incorporated into BetShop�s website,
www.betshop.com. The system is expected to launch by the end of
this year. The agreement will provide GIG with a share of the
wagering revenue. GIG will furnish the technology and operate the
system, while BetShop has committed to promoting the product
through a series of marketing initiatives. BetShop will also be
responsible for providing first level customer support and
processing customer financial transactions. In addition, BetShop
has agreed not to use the SportXction� System to accept bets from
anyone in the U.S. BetShop does not currently offer its customers
any in-run wagering, i.e. wagering during a sporting event. The
agreement calls for GIG to be BetShop�s exclusive in-run betting
third party provider. Bernard Albanese, chief executive officer of
ISWI, said: �We are thrilled that BetShop has chosen us as their
in-run betting provider. BetShop is recognized for its strong
online and retail betting presence in Europe. We believe our
software will provide BetShop�s customers with some exciting new
ways to enhance their wagering experiences.� According to Gabriel
Chaleplis, chief executive officer of BetShop: �We have been
looking at the SportXction� System for a long time, and we see
great potential in offering the unique betting opportunities to all
of our European customers.� The agreement between BetShop and GIG
is for an initial 1-year term. The initial implementation for
BetShop will consist of an enhanced version of the Company�s
stand-alone product, which requires the customer to log in only
once. BetShop will continue to evaluate the deployment of the
integrated version of SportXction�. BetShop expects to make the
SportXction� System available for soccer, cricket, golf, tennis,
rugby and basketball. About Interactive Systems Worldwide, Inc.
Interactive Systems Worldwide, Inc. (Nasdaq: ISWI) has designed,
developed and patented a proprietary software system, the
SportXction System, which enables play-by-play wagering during the
course of live sporting events. ISWI, through its wholly owned
subsidiary Global Interactive Gaming (GIG), operates the
SportXction� System in the U.K., in conjunction with established
media and traditional wagering partners. The system can accept
wagers from the Internet, handheld wireless devices, interactive
televisions, and standalone kiosks. GIG currently operates the
SportXction� System for soccer, cricket, golf, rugby union, tennis,
football, basketball, snooker, and darts. The system can be used
for any live broadcast event worldwide. About BetShop Group
(Europe) Limited BetShop Group (Europe) Limited is a European
online sports betting and casino gaming business, headquartered in
London. The BetShop.com website operates in eight European
languages on the company�s proprietary sports betting software
platform. The company also operates the GoalsLive.com online sports
information and results portal. In Italy, the company�s innovative
marketing and business development is driven by a network of over
900 retail sites. Each of these betting shops are licensed by the
Italian government and branded BetShop Italia. In June 2006,
BetShop was acquired by Leisure & Gaming plc, the AIM quoted
interactive betting and gaming company. FORWARD-LOOKING STATEMENTS:
The forward-looking statements contained herein are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those reflected in the forward-looking
statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect management's
analysis only as of the date hereof. The company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date thereof.
Readers should carefully review the risks described in other
documents the company files from time to time with the Securities
and Exchange Commission, including Annual Reports, Quarterly
Reports and Current Reports on Form 8-K. Interactive Systems
Worldwide, Inc.'s (NASDAQ: ISWI) wholly-owned subsidiary, Global
Interactive Gaming Limited (GIG), has signed a contract with a
subsidiary of BetShop Group (Europe) Ltd. (BetShop) and part of
Leisure & Gaming PLC (LSE: LNG.L). Under the terms of the
agreement, ISWI's SportXction(R) play-by-play sports betting system
will be incorporated into BetShop's website, www.betshop.com. The
system is expected to launch by the end of this year. The agreement
will provide GIG with a share of the wagering revenue. GIG will
furnish the technology and operate the system, while BetShop has
committed to promoting the product through a series of marketing
initiatives. BetShop will also be responsible for providing first
level customer support and processing customer financial
transactions. In addition, BetShop has agreed not to use the
SportXction(R) System to accept bets from anyone in the U.S.
BetShop does not currently offer its customers any in-run wagering,
i.e. wagering during a sporting event. The agreement calls for GIG
to be BetShop's exclusive in-run betting third party provider.
Bernard Albanese, chief executive officer of ISWI, said: "We are
thrilled that BetShop has chosen us as their in-run betting
provider. BetShop is recognized for its strong online and retail
betting presence in Europe. We believe our software will provide
BetShop's customers with some exciting new ways to enhance their
wagering experiences." According to Gabriel Chaleplis, chief
executive officer of BetShop: "We have been looking at the
SportXction(R) System for a long time, and we see great potential
in offering the unique betting opportunities to all of our European
customers." The agreement between BetShop and GIG is for an initial
1-year term. The initial implementation for BetShop will consist of
an enhanced version of the Company's stand-alone product, which
requires the customer to log in only once. BetShop will continue to
evaluate the deployment of the integrated version of
SportXction(R). BetShop expects to make the SportXction(R) System
available for soccer, cricket, golf, tennis, rugby and basketball.
About Interactive Systems Worldwide, Inc. Interactive Systems
Worldwide, Inc. (Nasdaq: ISWI) has designed, developed and patented
a proprietary software system, the SportXction System, which
enables play-by-play wagering during the course of live sporting
events. ISWI, through its wholly owned subsidiary Global
Interactive Gaming (GIG), operates the SportXction(R) System in the
U.K., in conjunction with established media and traditional
wagering partners. The system can accept wagers from the Internet,
handheld wireless devices, interactive televisions, and standalone
kiosks. GIG currently operates the SportXction(R) System for
soccer, cricket, golf, rugby union, tennis, football, basketball,
snooker, and darts. The system can be used for any live broadcast
event worldwide. About BetShop Group (Europe) Limited BetShop Group
(Europe) Limited is a European online sports betting and casino
gaming business, headquartered in London. The BetShop.com website
operates in eight European languages on the company's proprietary
sports betting software platform. The company also operates the
GoalsLive.com online sports information and results portal. In
Italy, the company's innovative marketing and business development
is driven by a network of over 900 retail sites. Each of these
betting shops are licensed by the Italian government and branded
BetShop Italia. In June 2006, BetShop was acquired by Leisure &
Gaming plc, the AIM quoted interactive betting and gaming company.
FORWARD-LOOKING STATEMENTS: The forward-looking statements
contained herein are subject to certain risks and uncertainties
that could cause actual results to differ materially from those
reflected in the forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which reflect management's analysis only as of the date hereof. The
company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after the date thereof. Readers should carefully review the
risks described in other documents the company files from time to
time with the Securities and Exchange Commission, including Annual
Reports, Quarterly Reports and Current Reports on Form 8-K.
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