INTERACTIVE SYSTEMS WORLDWIDE REPORTS RECORD
WAGERING VOLUMES
8 June 2007
Third positive consecutive monthly returns
Interactive Systems Worldwide, Inc. has announced record
monthly wagering volume, for the third straight month,
from the operation of its SportXction system in the UK.
The system, operated by wholly owned Global Interactive
Gaming Ltd. recorded over $2.0 million in turnover (the
total amount wagered) in May. This total represents the
largest monthly turnover ever recorded by GIG, adding to
the turnover for April and March that also showed volume
increases.
The system's "hold" (turnover less the money returned to
the players as winnings) was over $80 000.
GIG's revenue from its agreements has historically been
based upon several factors: the turnover, the hold and
the contractual revenue (hold) split with its partners.
However, in May this year GIG reached informal agreement
with several of its larger partners to instead receive
fixed or minimum monthly payments on a temporary basis.
Based on these informal agreements, GIG expects to
invoice approximately $60 000 for May, including license
fees due from its agreement with Hipodromo de Agua
Caliente S.A. de C.V.
GIG chief exec Bernard Albanese commented: "We are very
pleased with the continued growth of the system's
wagering turnover, despite the ending of English Premier
League season in mid-May. In May, tennis provided the
largest wagering turnover. We are looking forward to the
continued strong showing in tennis throughout the
summer, while awaiting the resumption of the European
football (soccer) season in August. The growth shown in
the system's use over the last several months validates
our optimism regarding the future growth of the service
being provided."
Online Casino News courtesy of
InfoPowa
More news here.
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