Interactive Gaming & Wagering (IGW), a wholly owned subsidiary of Global Entertainment Holdings/Equities, Inc. announced a joint venture with Gateway Technology, Inc. (GTI), a wholly owned subsidiary of Chartwell Technology Inc. The agreement teams a proven sportsbook software developer with an industry leader in online casino software.
The deal is valued at $3 million in gross revenues to IGW over the three-year term of the contract, thereby increasing the net earnings of Global Entertainment. The new joint venture expands the potential market base for IGW's Internet & Telephony Sportsbook System, as GTI has eight licensees currently using its online casino software.