Total Entertainment Inc. (TTLN) has signed its anticipated agreement with Independent Growth Finders Inc. (IGF) to form "Dragongaming.com," a joint venture corporation that will serve the Asia Pacific online gaming and e-commerce Industry.
The company transferred 1 million shares of TTLN across to Independent Growth Finders upon the signing. IGF will serve as the finance manager of Dragongaming.com and will providing management and marketing of the website. TTLN will supervise the site's development and maintenance.
TTLN President Mitchell Brown expects the venture to solidify his company's online gaming and electronic commerce businesses. According to Brown, the agreement "secures our position in the online gaming business internationally, in territories outside of the jurisdiction of North America."
IGF Executive Vice-President and CEO-Asia Michael Lai IGF is undergoing negotiations with Asian gaming organizations for exclusive online gaming contracts. Areas which have more Internet accessibility--such as Southern China, Hong Kong, Taiwan, and Singapore--are the immediate focus.
IGF plans to use digital radio technology, a step that no other company has been able to implement to date. With the advent of digital audio broadcasting (DAB) technology, interactive e-commerce and internet access via car and home radio receivers has become a reality. "After the touch-screen, it is the next step in access to the internet," points out Lai.
IGF's proprietary plan is to create an online "conbini," (a Japanese convenience-store concept) that accounts for the varying nuances of Asian culture and language. Lai emphasized the importance of "making the internet accessible, opportune, and entertaining even to those without computer access."
TTLN is expecting a huge boost in business to result from the new venture. In preparation for the anticipated demands on its website, the company will more than quadruple its bandwidth and server power over the next month. Vice President of Software Development John Masselli pointed out that sportsbook wagering is proportionately greater in Asia than in North America, where sports like cycling and high school baseball are popular. "It would be impossible for Total Entertainment to offer lines on these sports without the expertise and networking capacity of Mr. Lai," Masselli said.
Dragongaming.com is also prepared to offer clients various Asian casino games, including mah-jong and pai gow poker.