Gaming Realms plc
("Gaming Realms", the "Company" or the "Group")
Gaming Realms signs first U.S. real money gaming deal
Group agrees revenue share agreement with Pala Interactive for New Jersey gaming website 'PalaBingoUSA.com'
Gaming Realms, the creator and publisher of mobile real money and social games, is pleased to announce that is has commenced its first venture into the U.S. real money online gaming market through a licencing agreement with Pala Interactive LLC.
The Group has been granted a transactional waiver by the New Jersey Division of Gaming Enforcement (DGE) to deliver its newly developed 90 ball bingo game on PalaBingoUSA.com, the first and only gaming website fully dedicated to this type of Bingo in New Jersey. Pala Interactive LLC is a subsidiary of the Pala Band of Mission Indians, one of California's leading casino operators.
Under the terms of the contract, Gaming Realms will deliver the new bingo game to PalaBingoUSA.com and receive a share of the revenues generated from the gaming website. Pala Interactive has also agreed to commit significant resources to marketing the new game. To date the Group's U.S. licensing activity has been primarily in the land-based machine, social casino and lottery scratch card market.
Jim Ryan, a non-executive Director of the Company, is also CEO of Pala Interactive and as such is deemed a Related Party under the definitions of the AIM Rules. Further details of the licencing agreement will be disclosed in the Company's Annual Report and Accounts as appropriate.
Commenting on the licencing agreement, Patrick Southon, CEO, said:
"This step into the U.S. real money online gaming market is a significant milestone for Gaming Realms. Pala Interactive's decision to partner with us is a testament to our ability to develop high value and creative gaming content. The Group believes this deal marks its successful transition to becoming a multi national content and platform company in the mobile gaming space."
Contacts:
Gaming Realms Patrick Southon, CEO Mark Segal, FD | +44 (0) 845 123 3773 |
Cenkos Securities (Nomad and Broker) Max Hartley (Nomad) Julian Morse (Broker) | +44 (0) 20 7397 8900 |
Yellow Jersey PR Charles Goodwin Aidan Stanley | +44 (0) 7747 788 221 |
About Gaming Realms
Gaming Realms creates and publishes innovative real money and social games for mobile, with operations in the UK and U.S. Through its market leading mobile platform and unique IP and brands, Gaming Realms is bringing together media, entertainment and gaming assets in new game formats. The Gaming Realms management team includes accomplished entrepreneurs and experienced executives from a wide range of leading gaming and media companies.
About Pala Interactive, LLC
Pala Interactive, LLC is an online real money and social gaming operator that was founded in 2013 in anticipation of upcoming U.S. state legislation permitting real-money internet wagering. Focused on delivering an excellent user experience to consumers through its proprietary platform, Pala Interactive plans to be a material market participant in the U.S. regulated online gaming market. The Company's majority shareholder is the Pala Band of Mission Indians, which owns and operates the Pala Casino Spa and Resort in Pala, California.
