CHINESE ACTION FOR CGTV GAMES

9 November 2007

Software development capacity doubled with new acquisition


Only weeks after seeing a deal with Leisure and Gaming plc fall through, the Canadian gambling software developer CGTV Games has announced the acquisition of a Chinese company that will enable it to double development capability. The company did not release financial details on the deal.

Chengdu Huaxin IT is CGTV's latest acquisition (the company took over Gambling Federation last year). The company is located in Chengdu, a key hub for global IT research and development and home to several leading multinationals.

CGTV claims it has raised some US $29 million recently which is earmarked specifically for the acquisition of European-facing gaming companies. The company has launched several in-house casino brands featuring a series of 3D reel slots, 3D target slots, and 3D racing games.

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