Utilizing the cache of a reputable, classy brand name is a fine way to attract gamblers ready to plunk down cash at a virtual casino. In recognition of this philosophy, Gambling Internet Plc has embarked upon a partnership that will bring world famous Harrods department store into the online gambling industry.
Gaming Internet subsidiary Fortuna Universal Juegos Globables SA (FUJG) has inked a deal with Sporting Resorts SA, a subsidiary of Harrods Online Limited, in which FUJG will launch an online casino under the Harrods brand.
"Harrods is a major brand with significant international appeal and the agreement to operate the Harrods Casino is a groundbreaking venture for Gaming Internet," commented Gaming Internet CEO David Sanderson. "We believe this will be the first time a world-wide brand has launched an Internet casino."
Harrods Online Director Bill Najdecki added, "The new agreement puts together our international brand with an established online gaming company. Together we will develop further high quality gaming products. This represents the first step in the development of the groundbreaking Harrods online resort."
The site, harrods-casino.com, is set to launch next week and is the first step in Harrods' larger initiative to develop an online resort offering games, entertainment, travel information and more. It will eventually include more games with 2-D and 3-D graphics, a richer feel and cross-marketing opportunities for Harrods.
The agreement consists of a three-year fixed term contract followed by a rolling 12-month contract. Harrods will help market the casino, while Gaming Internet will operate the site. Casino profits will be split between Sporting Resorts and FUJG.
Harrods-casino.com will operate in Costa Rica and will accept players from around the world, except for U.S. and Costa Rican nationals.
The deal has already proven beneficial for Gaming Internet, as its stock value rose 6.3 percent yesterday, with shares selling for 37 pence at the trading day's end.