Playtech Limited
07 March 2007
7 March 2007
Playtech Ltd
('Playtech'or 'the Company')
Contract signed with Foundation Group Ltd
Agreement to supply P2P Gaming in China
Further to Playtech's previous announcement with reference to early stage
negotiations with a pure Asian-facing gaming business, the Company is pleased
to announce today that it has signed a contract with Foundation Group Limited
('Foundation Ltd') to supply Peer to Peer (P2P) gaming software within
China.
Foundation Ltd is a listed company in Hong Kong and is a new venture, whose
subsidiary, has recently signed licensing agreements with an operating arm of
the Communist Youth League (CYL). CYL is responsible for the implementation of
China's 'Green Internet Policy' so as to provide duly licensed play for
cash prizes P2P tournament games via internet cafes situated throughout
China.
Foundation Ltd is currently undertaking a fund raising exercise. Further
details of the company's plans are therefore restricted at this stage. It is
intended that Playtech will give a further update regarding this contract
sometime later this month.
This is the second contract that Playtech has signed to supply the Chinese
market in the past three months and the first nationwide contract of this
nature.
Avigur Zmora, Chief Executive Officer of Playtech, commented today:
'Although Foundation Ltd is in the very early stages of its development, its
potential is very exciting for Playtech and we look forward to working closely
with Foundation to develop this potential.'
- ends -
For Further Information:
Avigur Zmora, CEO, Playtech Ltd
c/o Bell Pottinger
Tel: +44 20 7861 3232
www.playtech.com
Peter Otero / David Rydell / Amy Rajendran
Bell Pottinger Corporate & Financial Tel: +44 20 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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