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OLG signing up for ISW sportsbet system

Discussion in 'Sportsbook Information' started by jetset, Sep 18, 2007.

    Sep 18, 2007
  1. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    SPORTS BETTING FOR ONTARIO?

    ISW negotiating a contract to provide sports betting software to Canadian provincial gaming operator.

    The embattled Ontario Lottery and Gaming Corporation seems to be expanding its activities, according to a press release from New Jersey-based Interactive Systems Worldwide Inc. which reports that the company is in negotiations to supply the Canadian provincial authority with its sports wagering product.

    Recently at the centre of a retail outlet ticket scandal which resulted in widespread executive changes in the top echelons, the OLG has a new CEO (see previous InfoPowa reports) and a firm commitment to fair and safe gambling on its facilities. The organisation generates revenues of $6 billion and employs more than 20 000 employees and associates, and is one of North America's leading gaming enterprises.

    ISW's announcement confirmed that the company has received a purchase order, and shortly expects to receive an initial deposit of $35 000 from the Ontario Lottery and Gaming Corporation.

    The purchase order authorises the spending of up to $175 000 for software development and other services. This software development is required for the modification of ISW's SportXction sports wagering product to add certain features, including the offering of parley wagering, required by OLG.

    OLG is authorised under Canadian and provincial law to operate gaming and wagering businesses within the province of Ontario.

    The companies are currently negotiating a development/licensing agreement, which would allow OLG to conduct a six-month field trial of the modified SportXction product, after its completion, for use in up to two casinos. ISW is optimistic that this field trial will lead to a broader implementation in multiple casinos and other on-site gaming venues throughout Ontario, Canada. If successful, the system will have applicability in other Canadian provinces.

    The purpose of the purchase order at this time is to kickstart software development without waiting for the completion and signing of the more definitive licensing agreement. Actual delivery of the modified software will not occur until after signing the licensing agreement.

    Bernard Albanese, CEO at Interactive Systems Worldwide stated, "We are very pleased with this arrangement. The purchase order initially provides the company with some short-term software development revenue, but more importantly, we are excited by the longer-term prospects of a broad based deployment of the SportXction product throughout Canada."
     

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