Interactive Gaming & Communications, Inc. (IGC) is teaming with a company called Century Industries, Inc. to create a new company that will develop and market IGC's stock market information search engine site as well as its interactive horseracing software.
Century Industries has signed a memorandum that is focused on Century and IGC jointly capitalizing and owning Internet Online Productions, Inc. (IOP). The new company will finish developing and market IGC's proprietary "StockSleuth" stock market information search engine site, which provides a comprehensive analysis of any trading security, including its major institutional investors and its short and long term prospects. It will also use IGC's LiveAction platform to complete "ToteMaster," Internet Thoroughbred Racing interactive software, which is to be licensed to various race track members of the Thoroughbred Racing Association to carry simulcast thoroughbred racing over the Internet.
The profits derived from this joint effort through IOP would be shared equally on a 50/50 basis by Century and IGC. IGC also has additional Internet products in development which it will contribute to the newly formed company.
IGC has already licensed its "Live Action" casino gaming software to three online gaming casinos. Similar software has been developed by Playstar, Starnet Communications International, Inc. OTC BB: SNMM) and Atlantic International Entertainment, Ltd.
Formally an online sportsbook operator (Sports International/Global) Interactive Gaming & Communications, Inc. was founded in 1994 and owns and operates www.gamblenet.com and www.playforfun.com. The company also developed the "LiveAction" proprietary interactive casino gaming software utilized on its playforfun.com website. It also has 10 additional websites under construction through its programming subsidiary, Intersphere Communications (www.Intersphere.com).
Century and IGC will operate their joint effort Internet Online Productions, Inc. from Intersphere's head quarters in Plymouth Meeting, Pa., where programming and marketing staff are already in place. Both companies plan to exchange shares of their respective stocks with IOP as a basis for funding the development completion and marketing costs. Intersphere will contribute its StockSleuth and ToteMaster Thoroughbred Racing Working Models to IOP.
The Boards of Century and IGC have entered into active discussions to consider further merger and acquisition possibilities. One scenario under discussion is the acquisition of IGC by Century; another is a statutory merger between the two companies. A merger would result in SBET becoming listed on the PHLX, which has merged with the AMEX. Century has over 160 employees in its subsidiaries, in sales, steel fabrication and insurance claims administration.
Century Industries, Inc., founded in 1992, owns Century Steel Products, a 20 year old steel fabricator, and Scibal Associates, founded in 1953, a third party insurance claims administrator, acquired in 1996 by Century. Scibal Associates has developed its own proprietary software for interaction with its clients.