GIG REPORTS CLIMBING REVENUES FOR SPORTXCTION

11 January 2008

Global Interactive Gaming subsidiary reveals record GBP 1.2 million turnover for in-running product


Global Interactive Gaming in-game betting subsidiary SportXction achieved record turnover of GBP 1.2 million last (December) month, compared with GBP 146 000 in December 2006.

Bernard Albanese, the company's CEO, said that GIG is encouraged by this growth: "We are very pleased with the
wagering volume from our operations in the UK. Sports wagering is somewhat seasonal, and historically December is not usually one of our best months; and yet, the turnover this December equaled the third best month we've ever recorded, immediately following the record setting months of October and November.

"The magnitude of this increase from last year demonstrates the growth in the appeal of the product and should help us to secure additional business worldwide. We are hopeful that the demonstration of continued interest in the types of wagering offered by this unique system will enable us to position the SportXction product as a "must have" feature for a significant number of on-line bookmakers."

The company's revenue from agreements under which it operates its software has historically been based upon several factors: the turnover, the hold and the contractual revenue (hold) split with its partners. However, in May 2007 it announced that it had reached informal agreement with several of its larger partners to restructure its agreements with them in order for GIG to receive fixed or minimum monthly payments on a temporary basis (see previous InfoPowa reports).

Based on these informal agreements, which are still in place, GIG expects to invoice approximately $61 000 for December 2007,
including license fees due from its agreement with Hipodromo de Agua Caliente S.A. de C.V ("Caliente").

GIG continues to market the SportXction sports wagering system in jurisdictions where sports wagering is legal and the company is in discussions with several domestic and foreign companies in the gaming industry. Software development designed to add more features to the Sportxction system is in progress, particularly those aspects required to satisfy the requirements of the Ontario
Lottery and Gaming Corporation ("OLG"). In September 2007, GIG announced the receipt of a $175 000 purchase order from OLG to provide software modifications and other services.

GIG is currently negotiating a licensing agreement with OLG, which would allow them to conduct a six-month field trial of the modified SportXction product, after its completion, for use in up to two [land] casinos. The company is optimistic that this
field trial will lead to a broader implementation in multiple casinos and other on-site gaming venues throughout Ontario, Canada.

The company announced last (December) month that it had signed a non-binding agreement with Neptune Race and Sports Book, Inc.

Online Casino News courtesy of InfoPowa