MONTREAL, Sept. 6, 2011 /CNW/ - Amaya Gaming Group Inc. (TSXV: AYA), an entertainment solutions provider for the regulated gaming industry, today announced that it has been awarded an exclusive, 20-year contract with the National Lottery of Moldova to provide a full range of gaming solutions. Amaya will leverage its innovative technology platform to implement and support national gaming programs including: lottery, video lottery terminals, sports betting, and digital gaming.
The agreement represents a significant milestone as Amaya's first comprehensive government mandate spanning the complete range of gaming programs and activities. The contract has the potential to generate recurring revenues in excess of $20 million annually. Implementation is scheduled to begin in the fourth quarter of 2011.
"We are very pleased to begin a long-term relationship with the National Lottery of Moldova that promises to be fruitful for both parties," said David Baazov, President and Chief Executive Officer of Amaya Gaming Group. "Our technology is designed to offer a full range of gaming solutions from a single platform, and we believe our breadth of capabilities was a key reason we were selected, along with our ability to ensure the integrity of the system. While Moldova is the first customer to formally select us for this wide range of gaming activities, our strategy is to expand our relationships over time with new and existing customers by offering more gaming technologies in their jurisdictions."
The partnership will provide the National Lottery of Moldova with new sources of revenue, including funds that are currently leaving the country for off-shore gaming activities. One of the features of Amaya's technology is designed to ensure the authenticity and accuracy of data collected from devices across the gaming network. The system will enable government authorities to receive real-time, accurate accounting reports that are free of human error, manipulation and/or fraud, while providing the framework for implementing responsible gaming features, including the strict prohibition of underage gaming.
About Amaya Gaming Group
Amaya is engaged in the design, development, manufacturing, distribution and sale of technology based gaming solutions for the regulated gaming industry worldwide. 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, Amaya 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."