Business
Gaming Realms: first U.S. real money gaming deal
Gaming Realms: first U.S. real money gaming deal.
About this update from Gaming Realms Plc
[{"type":"text","content":"\n \nRNS Number : 9950S Gaming Realms PLC 23 March 2016 \n\nGaming Realms plc\n \n(\"Gaming Realms\", the \"Company\" or the \"Group\")\n \nGaming Realms signs first U.S. real money gaming deal\n \nGroup agrees revenue share agreement with Pala Interactive for New Jersey gaming website 'PalaBingoUSA.com'\n \nGaming Realms, the creator and publisher of mobile real money and social games, is pleased to announce that is has commenced its first venture into the U.S. real money online gaming market through a licencing agreement with Pala Interactive LLC. \n \nThe Group has been granted a transactional waiver by the New Jersey Division of Gaming Enforcement (DGE) to deliver its newly developed 90 ball bingo game on PalaBingoUSA.com, the first and only gaming website fully dedicated to this type of Bingo in New Jersey. Pala Interactive LLC is a subsidiary of the Pala Band of Mission Indians, one of California's leading casino operators.\n \nUnder the terms of the contract, Gaming Realms will deliver the new bingo game to PalaBingoUSA.com and receive a share of the revenues generated from the gaming website. Pala Interactive has also agreed to commit significant resources to marketing the new game. To date the Group's U.S. licensing activity has been primarily in the land-based machine, social casino and lottery scratch card market.\n \nJim Ryan, a non-executive Director of the Company, is also CEO of Pala Interactive and as such is deemed a Related Party under the definitions of the AIM Rules. Further details of the licencing agreement will be disclosed in the Company's Annual Report and Accounts as appropriate.\n \nCommenting on the licencing agreement, Patrick Southon, CEO, said:\n \n\"This step into the U.S. real money online gaming market is a significant milestone for Gaming Realms. Pala Interactive's decision to partner with us is a testament to our ability to develop high value and creative gaming content. The Group believes this deal marks its successful transition to becoming a multi national content and platform company in the mobile gaming space.\" \n \n \nContacts:\n \n\n\n\n\nGaming Realms \nPatrick Southon, CEO\nMark Segal, FD\n\n\n+44 (0) 845 123 3773\n \n\n\n\n\n \nCenkos Securities (Nomad and Broker)\nMax Hartley (Nomad)\nJulian Mor...