Global Net Entertainment has entered a joint venture agreement with Noram Gaming and Entertainment Co. to build and manage traditional, television and online Internet bingo operations internationally. The two companies plan to initially co-develop the first traditional bingo operation in the Kingdom of Cambodia using Global's present joint venture license agreement with the Royal Group, and then pursue ventures in other nations. Global already is developing a national online and Internet lottery in Cambodia.
Global and Noram will implement online gaming strategies using Global's software applications to explore and develop the bingo market globally. Their profit and non-profit Internet bingo strategy will be available on www.bingonation.com, using Global's Internet license in Dominica.
The two companies will also develop and market TV bingo through cable companies globally. "The market potential for this is enormous as Bingo is one of the most played games in the World. In total, bingo accounts for greater revenue than movies, music, theatre and professional sports combined," Global Net Entertainment CEO Julius Csurgo said.
The companies are also exploring opportunities through Global's existing business relationships in Central and South America. According to Csurgo, Global is currently negotiating with Ecuador for an online lottery, and in Chile for a paper-based lottery. The company also has Internet licenses in Dominica and St. Kitts.