DQE SELLS OFF 3D GAMBLING SOFTWARE

8 August 2008

Online poker and blackjack platform deal agreed


The Nordic Growth Market listed gambling software provider Designed Quality Entertainment AB (DQE) has announced the sale of its 3D Internet poker and blackjack software to Stockholm-based Proactive Gaming Scandinavia AB in a lease-buy deal worth SEK 8 million that includes all related activities, personnel and contracts.

The agreement means that Proactive Gaming will initially lease the platform for a specified period, after which the company will take over all rights to the business.

DQE powers online gambling websites like StarClubPoker, The3Dpoker.com, Vegas007.com and Leepoker.com, whose clients play poker and blackjack in virtual gaming rooms via the DQE gaming platform.

A company spokesman said that for DQE the transaction is part of a strategy to change corporate direction. The company intends to focus on selling automatic beverage inventory systems for bars, and the sale of the gaming platform will reduce running costs by some SEK8 million per year, as well as provide capital for developing the new business.

Norkopping, Sweden-based DQE entered the gaming business in late 2005, when it took over TDIG Förvaltning AB, and its commercial rights to a technologically advanced platform for Internet-based poker and blackjack, under development for the preceding two years in collaboration with several leading Swedish companies.

Soon afterwards, the first gaming site, Vegas007.com, was launched with the newly established gaming company, Nostell Services.

In January 2007, DQE signed an agreement with Fiddler Investments Ltd, a company backed by major Asian gaming operators, with the aim of conquering a large part of the growing Asian market for Internet poker at an early stage, but this deal does not seem to have achieved significant traction.

Little is known about Proactive Gaming Scandinavia AB, a limited liability software and web design company with private ownership formed in early 2006 that has offices in Stockholm.

Online Casino News courtesy of InfoPowa