14th Jun 2016 07:00
14 June 2016
Nektan plc
("Nektan", the "Company" or the "Group")
Respin JV receives approval for release of Class II Mobile Solution product
Nektan plc (AIM: NKTN), a leading international mobile gaming provider, announces that Respin, its joint venture in the US, has received approval from the designated independent test lab for release of its "Rapid Games" product, a Class II Mobile in venue gaming solution.
This Class II compliance certification opens the way for tribal jurisdictions to start deploying this product which will allow players to play Class II games on their own mobile device within designated areas of casino property. The directors are not aware of any other mobile product that currently has Class II compliance.
The first release will be Rapid Bingo with an additional array of games scheduled for released in 3rd quarter 2016.
Class II gaming utilizes bingo pay tables to distribute games of chance such as slots and bingo, where games are played on a pooled basis. i.e. player to player, not against a single machine or house. Class II gaming currently accounts for approx £33bn of annual casino gaming in the US.
Jim Wilkinson, Chairman of Nektan, said:
"We are delighted to be able to announce this landmark product approval for our on premise gaming product.
It is a key approval for the industry, and we believe this exciting product will be a great success for both Respin LLC, US casinos and their players who will benefit from an augmented gaming experience.
Our industry continues to strive for mobile gaming solutions to cater to future generations, and we believe this is a positive step in that direction. Class II offers many benefits for tribal casinos and we feel this is smart and compelling solution for their players."
For further information on the Group, please contact:
Nektan Jim Wilkinson, Chairman | via Newgate below
|
Zeus Capital Limited (Nominated Adviser & Broker) Nicholas How, Giles Balleny (Corporate Finance) Adam Pollock (Corporate Broking) |
Tel: +44 (0)20 3829 5577
|
Newgate (PR Adviser) James Benjamin Alex Shilov Lydia Thompson |
Tel: +44 (0)20 7680 6550 |
Further information on Nektan can be found on the Company's website atwww.nektan.com
About Nektan:
Nektan is a leading international B2B mobile gaming content developer and platform provider. The Group designs, builds and operates mobile games in the regulated, interactive real money gaming ("RMG") and freemium gaming space, delivering original and innovative content to large commercial organisations that have established online audiences.
About Respin LLC:
Respin LLC located in Reno Nevada, was formed in 2015 by Spin Games LLC and is currently a joint venture with Nektan PLC. The company develops disruptive technologies to roll out on- property mobile gaming solutions for land-based casino operators across North America where there is legalized gambling. Respin specializes and offers solutions which allow operators to add mobile technology and content to their existing offerings, with products to be made accessible to customers across both cabinets and mobile devices inside the casinos. Respin has a strong intellectual property portfolio including game patents for Rapid Games™ (on-property mobile entertainment), and other captivating concepts and brands.
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