Italian Deal for Parlay
October 3, 2008 (InfoPowa News) – The Italian gaming service provider Microgame S.p.A. is partnering with Canadian bingo software developer Parlay Entertainment.
Each network will be powered by an Internet platform that combines Parlay's Internet bingo, casino, and other soft game products with Microgame's existing game management and administration infrastructure. Microgame currently offers sports and poker wagering in the tightly regulated Italian marketplace and is authorized by the Italian Ministry of Economy and Finance — Autonomous Administration of the State Monopolies (AAMS).
The company is an Italian market leader in remote gaming and, at present, manages more than 750,000 online gaming accounts. In 2007, Microgame generated gaming turnover exceeding €440 million and proceeds of more than €15 million. The English FSA regulated private equity fund Cambria Ltd. recently became investors in Microgame together with other institutional investors.
The first network to be launched will offer online bingo to the Italian marketplace, once the Italian government has added bingo to their list of regulated Internet games, which Microgame anticipates will occur in Q1 2009. A second network, most likely to be based in Malta, is targeted for launch in Q2 2009 and will offer the games to an international marketplace.
Scott White, Chief Executive Officer of Parlay Entertainment, said: "We are delighted to partner with Microgame to offer our leading-edge games in Italy, which will be a new regulated marketplace for Parlay and for bingo. We view the opportunity with Microgame, making use of their existing relationships, infrastructure, and large customer base in Italy, as an excellent way to enter this new market for bingo."
Fabrizio D'Aloia, Managing Director of Microgame, said: "Microgame is honored to collaborate with Parlay, the first commercial supplier of Internet bingo software in the world, as its partner for the Italian market. The agreement will allow Microgame to offer Italian gaming operators served by it the opportunity to immediately enter this new market as protagonists and with success by combining the powerful characteristics of Parlay bingo with the functionalities of Microgame's regulated gaming service provider."
"Parlay has been a first mover and market innovator in Internet bingo for more than 10 years," added Mr. White. "We have been and will continue to be committed to the growth of bingo in new regulated marketplaces, particularly in Europe. The opportunity to participate with an experienced, regulated, and credible operator in Italy will help Parlay accelerate our time to market."