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GFED acquired by CGTV Ltd

Discussion in 'Casino Industry Discussion' started by jetset, Feb 24, 2007.

    Feb 24, 2007
  1. jetset

    jetset Ueber Meister CAG

    Senior Partner, InfoPowa News Service

    CGTV takes over a onetime notorious brand, and pulls out of U.S. market

    Turnkey provider Gambling Federation, the subject of much criticism in a malware scandal two years ago has apparently been taken over by the Vancouver-based GCTV Games Limited.

    CGTV issued a press release from its Irish office to announce the news, disclosing that it has acquired the international (non-U.S.) assets of GFED Games, which it somewhat generously claims is "...one of the world's leading providers of online casino games software and support services."

    The release advises that CGTV Games Limited will "...use this technology and intellectual property assets acquired from GFED Games to provide kiosk based and online casino operators with the latest casino games, in multiple languages, in multiple currencies, through multiple electronic delivery platforms, in Europe, Asia and South America.

    The company says that it is a leader in the interactive entertainment industry offering state of the art casino software, services, and game solutions. The firm offers downloadable and browser based casino and gaming products that are localised and supported in 17 languages, with several currencies in nearly 200 countries or territories throughout Europe, Asia, Africa, Central and South America. The games inventory on offer comprises 100 games, with further expansion under development.

    The announcement does not specify what is to happen to GFED personnel, other than to comment that key employees will be taken into CGTV Games to join its international team. Other terms of the acquisition, including the consideration agreed were not announced.

    Moving quickly on the heels of the acquisition, the directors of CGTV Games immediately voted to withdraw its support for online casino operators in the US market.

    Affiliates advised to go after non-U.S. markets

    Affiliates were simultaneously given the news of the takeover and the US pull-out. A GFED advisory told affiliates: "Over the next few days, you will see a complete rebranding of all adjacent products and services to reflect this new ownership. The affiliate program will itself be involved in this shift, and you will be notified of the details, including the name change, within a few weeks.

    "In order to comply with legislation recently introduced in the United States, we will be withdrawing ourselves from that market in the coming months. All commissions generated from your US players will be honoured in full, until the time of complete withdrawl from the US market. You will be notified on the exact termination date. Please note that this change will not affect your USD currency commissions generated by non-US players.

    "We strongly advise you to concentrate your promotional efforts on markets within Europe, Asia, Africa, Central and South America.

    It was apparent from former GFED sites like Video Poker Classic that the rebranding had been planned in advance, with the site sporting a new look with the CGTV logo in evidence. The site also bore the TST Testing certificate in respect of the RNG.

    CGTV Games describes itself as offering state of the art online and interactive television gaming solutions. It also offers a complete range of operational services such as e-cash, support and marketing for wannabe operators seeking a white label provider.

    "Combining the use of powerful channels such as the web, mobile communications and interactive television among others, CGTV Games provides gaming operators with a comprehensive package including gaming software license, software support and related marketing services, interactive TV shows and contests, and innovative playing schemes," its site boasts. Some of the company's products are Legends Poker, Blackjack Dealers, Rock Star Poker and Card Sharks.

    According to technical staff recruitment media, CGTV has been building up its staff complement, with the latest (February) payroll showing 73 employees at the Vancouver operation. Other offices have been opened in Dublin, Ireland (registered 15 December 2007 number 431770 described as "Private Company Limited By Shares") and in Milan, Italy; Panama City, Panama and Sydney in Australia.
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