ISWI Subsidiary Launches New Integrated Service with Ladbrokes.
Under the terms of the agreement, GIG is providing software and services to allow Ladbrokes to offer timely, play-by-play betting throughout the course of a sporting event. The betting markets are fully integrated and offered alongside Ladbrokes' existing offerings, through its Internet betting site, www.ladbrokes.com.
In this non-exclusive arrangement, which will provide GIG with a share of the wagering revenue, GIG will manage certain in-run play-by-play wagering markets that would be offered in conjunction with other more traditional markets that are already managed by Ladbrokes. The markets will be offered in multiple languages, and wagers will be accepted in multiple currencies. Ladbrokes' Bet-In-Play zone already features a statistics center, live news and scores and text commentary. GIG utilizes the SportXction([R]) System, developed by ISWI, to administer the markets as well as to manage gaming risk of these primarily short-term, play-by-play oriented, betting opportunities, offered during a live sporting event.
Bernard Albanese, CEO of ISWI, said, "We are very pleased to have launched this unique new service with Ladbrokes, the world's largest bookmaker and a major force in the gaming industry. This partnership allows Ladbrokes to offer their customers the most comprehensive in-run betting service available to the public. This event, in combination with other recent launches represents a new phase for the Company, one in which we hope to see substantially increased revenues through our existing partners, as well as new opportunities for additional license and partnership relationships."
David Briggs, Commercial Director of Ladbrokes eGaming, said, "We are excited to be able to offer the innovative betting opportunities made possible by the SportXction([R] )System. This service will enhance our live betting service by giving our customers a more complete live betting experience allowing many more wagering opportunities during the live sports event."
The agreement with Ladbrokes is for an initial 18-month term. Ladbrokes will make the SportXction([R]) System available for all of the currently available sports of football, cricket, golf, tennis, rugby, basketball, snooker and darts.
About Interactive Systems Worldwide, Inc.
Interactive Systems Worldwide, Inc. (Nasdaq: ISWI) has designed, developed and patented a proprietary software system, the SportXction System, which enables play-by-play wagering during the course of live sporting events. ISWI, through its wholly owned subsidiary Global Interactive Gaming (GIG), operates the SportXction[R] System in the U.K., in conjunction with established media and traditional wagering partners. The system can accept wagers from several interactive mediums including the Internet, handheld wireless devices, interactive television, and standalone kiosks. GIG currently operates the SportXction[R] System for soccer, cricket, golf, rugby, tennis, football, basketball, snooker, and darts. The system can be used for any live broadcast event worldwide.
Ladbrokes was first established in 1886 taking wagers in the Gentlemans' clubs of London. Today Ladbrokes is the world's leading retail bookmaker, taking over 350 million bets a year at over 2,500 high street betting shops in the UK, Ireland and Belgium and at 47 leading football clubs and 11 horseracing tracks. It has the highest brand awareness of any bookmaker in the UK and has reinvented the betting shop experience with a PS25 million annual investment in design and technology since 2001. Its latest innovation - Ladbrokes Xtra - is an exclusive second dedicated betting shop broadcast channel showing a wide range of racing and sports events that other bookmakers cannot offer.
Online, Ladbrokes.com has over 2 million registered customers from over 200 countries betting in 12 languages using 18 currencies. Ladbrokes.com was awarded best sports betting operator at the 2005 eGaming Awards and best innovation for its Ladbrokes Financials product which enables betting on 5 minute movements in stock exchange indices like the FTSE-100 Index. Completing the comprehensive portal offering is Ladbrokespoker.com, the most popular poker site with European players, Ladbrokescasino.com and Ladbrokesgames.com.
FORWARD-LOOKING STATEMENTS: The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements, including, but not limited to, whether the Company will realize substantially increased revenues. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including Annual Reports, Quarterly Reports and Current Reports on Form 8-K.
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|Date:||Jan 9, 2007|
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