ENGLAND – (PRESS RELEASE)-- Playtech (AIM: PTEC), the listed international designer, developer and
licensor of software for the online and land-based gaming industry, is
pleased to announce today that it has agreed a landmark five year software
licensing agreement with China's leading gaming group: Sino Strategic
International (ASX: SSI).
SSI is listed on the Australian Stock Exchange and is a diversified
investment holding company. Its primary operations are in the large and
fast growing Chinese gaming, internet and mobile media markets.
SSI's subsidiary, Shanghai Kelo, operates the largest corporate retail
gaming network in China, distributing the legalised keno, lotto, and Video
Lottery Terminal (VLT) games. Shanghai Kelo currently runs more than 460
Point of Sale ("POS") gaming outlets in Shanghai under license from the
Shanghai Welfare Lottery Centre. In October 2006, the license agreement was
extended, allowing Shanghai Kelo to operate up to 600 outlets distributing
keno and other welfare games for the next five years.
Playtech and SSI will be the first major distributor and promoter of
Texas Hold'em Poker in the Chinese market. Following the launch of the
poker product in the coming months, SSI expects to launch a selection of
Playtech powered P2P Chinese tournament games through selected SSI outlets
in China in the first half of 2007 after a testing, approval and
implementation period.
Initially, a selection of P2P poker games will be offered, followed by
games played more commonly in China such as mahjong, Do Di Zhu, Cho Da Di
and To La Ji.
Avigur Zmora, Chief Executive Officer of Playtech, comments: "This is a
major development for both Playtech and SSI bringing the Play for Real P2P
tournament gaming experience to China at appropriately licensed gaming
outlets for the first time. The Chinese market is a vast and incredibly
exciting marketplace and Playtech is extremely well positioned to assist
operators such as SSI in rolling out new gaming products in a phased manner
in accordance with Chinese regulations. This license agreement will further
establish Playtech's presence in Asia and is in line with the Company's
ongoing strategy. Playtech is increasingly Asian-facing and this
transaction is another milestone in further diversifying the geographical
reach of the business and its customer base."
Richard Li, Chief Operating Officer, Australia, of Sino Strategic
International states: "In Playtech, we have found a software provider that
has a clear understanding of the Asian gaming marketplace and who
understands the intricacies of gaming in China. The private gaming network,
consisting of up to 5,000 terminals to be implemented by Playtech, will
upon completion, expand the SSI gaming terminal network significantly. SSI
also intends to further expand this network via franchising to other parts
of China over the next five years."