20th Dec 2006 07:01
Playtech Limited20 December 2006 Playtech signs landmark Chinese gaming agreement Playtech (AIM: PTEC), the listed international designer, developer and licensorof software for the online and land-based gaming industry, is pleased to announce today that it has agreed a landmark five year software licensing agreement with China's leading gaming group: Sino Strategic International(ASX: SSI). SSI is listed on the Australian Stock Exchange and is a diversified investmentholding company. Its primary operations are in the large and fast growingChinese gaming, internet and mobile media markets. SSI's subsidiary, Shanghai Kelo, operates the largest corporate retail gamingnetwork in China, distributing the legalised keno, lotto, and Video LotteryTerminal (VLT) games. Shanghai Kelo currently runs more than 460 Point of Sale("POS") gaming outlets in Shanghai under license from the Shanghai WelfareLottery Centre. In October 2006, the license agreement was extended, allowingShanghai Kelo to operate up to 600 outlets distributing keno and other welfaregames for the next five years. Playtech and SSI will be the first major distributor and promoter of Texas Hold'em Poker in the Chinese market. Following the launch of the poker product in the coming months, SSI expects to launch a selection of Playtech powered P2PChinese tournament games through selected SSI outlets in China in the first half of 2007 after a testing, approval and implementation period. Initially, a selection of P2P poker games will be offered, followed by gamesplayed more commonly in China such as mahjong, Do Di Zhu, Cho Da Di and To LaJi. Avigur Zmora, Chief Executive Officer of Playtech, comments: "This is a major development for both Playtech and SSI bringing the Play forReal P2P tournament gaming experience to China at appropriately licensed gamingoutlets for the first time. The Chinese market is a vast and incrediblyexciting marketplace and Playtech is extremely well positioned to assistoperators such as SSI in rolling out new gaming products in a phased manner inaccordance with Chinese regulations. This license agreement will furtherestablish Playtech's presence in Asia and is in line with the Company'songoing strategy. Playtech is increasingly Asian-facing and this transaction isanother milestone in further diversifying the geographical reach of the businessand its customer base." Richard Li, Chief Operating Officer, Australia, of Sino Strategic Internationalstates: "In Playtech, we have found a software provider that has a clear understandingof the Asian gaming marketplace and who understands the intricacies of gaming inChina. The private gaming network, consisting of up to 5,000 terminals to beimplemented by Playtech, will upon completion, expand the SSI gaming terminalnetwork significantly. SSI also intends to further expand this network viafranchising to other parts of China over the next five years." - ends - For Further Information: Avigur Zmora, CEO, Playtech Ltdc/o Bell Pottinger Tel: +44 20 7861 3232www.playtech.com David Rydell / Amy RajendranBell Pottinger Corporate & FinancialTel: +44 20 7861 3232 Richard Li, COO Australia, [email protected]. +61 3 96296615 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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