Following through on its vow late last year to increase its international presence through various high profile partnerships, Gaming Internet Plc has signed another such deal. Its subsidiary, Fortuna Universal Jeugos Globales SA (FUJG), will operate a new Internet casino for the Paris Ritz hotel as part of an agreement with Sporting Resorts SA, a subsidiary of Harrods Online Limited. A previous deal between these parties brought the famous Harrods department store name to another online casino, located online at www.harrods-casino.com. The site launched last month and operates from Costa Rica, and will not accept play by American or Costa Rican residents.
"Paris Ritz is a major brand with significant international appeal," said Gaming Internet CEO David Sanderson. "Our operational expertise, the integrity of the Paris Ritz brand and the anticipated quality of the customer base will, I am sure, make the Paris Ritz Casino a good bet for success.
The newest deal will bring the Ritz casino to www.parisritzcasino.com using custom software developed by ForceInternet, an U.K. firm. FUJC will operate the e-casino for three years, with a rolling 12-month contract thereafter. The company will share marketing responsibilities with Sporting Resorts, and the two companies will share the casino's profits.
Using similar terms to that agreed upon for the Harrods casino, Gaming Internet will pay Sporting Resorts £900,000 (using 3 million newly issued shares), with another £300,000 paid upon the fourth and fifth anniversary of the deal. Sporting Resorts has agreed to hold onto the stock for a year, unless receiving consent from Gaming Internet to dispose of any shares.