Cyberview Technology, a leading provider of downloadable server-based systems to the gaming industry worldwide, has announced that it will supply the largest-ever multi-draw jackpot game in Venezuela. The game will be made available to more than 35 bingo halls operated by a leading Venezuelan operator and will guarantee a top jackpot of a minimum of 20-million Bolivars (US$9,600), a significant prize amount for this Latin American market.
Based upon the anticipated average number of tickets to be sold on a daily basis, this new game is expected to generate revenues for the company of US$13 million over a contracted five-year period. Rollout of the new game is expected to commence before the end of the second quarter of 2006, and availability of the game is subject to all regulatory and other approvals.
Jean-Marie Gatto, the company's Chief Executive Officer, said: "This new game for Venezuela is yet another example of the flexibility of the company's platform technology and its ability to cross over into new markets. We remain confident that our server-based downloadable games technology with its broad intellectual property base places us in a strong position to continue to play an important part in the roll-out of this technology into all gaming markets worldwide."
The game utilizes the company's innovative central server-based, downloadable games platform currently operating in casinos, lotteries and other gaming venues internationally. For the new game offering, each Venezuelan bingo hall will be linked via a wide area network to the company's central server, which will authorize, verify and record every transaction in a real-time secure environment. There will be four different game draws scheduled per day, broadcast live across all the participating sites in Venezuela. Players share in winning different amounts depending on whether they match two, three or all four of the winning combinations. The top jackpot prize for matching all four of the winning combination is pari-mutuel. If there are no winners, there is a roll-over into the next draw, allowing for even larger top amounts.
The company currently offers a number of other products in Venezuela, most notably its International Betting Exchange, a product which offers licensed premises the ability to widen their offering for players by allowing wagers on live sporting events. This product is operating currently in twelve sites and the company forecasts an increase to fifty, by the end of second quarter of 2006, in Venezuela and other countries.
Cyberview Technology is a leading worldwide provider of server-based downloadable gaming systems underpinned by a strong intellectual property (IP) and patent portfolio. This innovative and flexible technology provides an end-to-end security solution that allows customers to change game offerings on demand, enabling the venues to customize their offerings and to maximize their revenues. Additionally, the system aids administration by providing detailed reports for customers, regulators and the tax authorities. The company's system can be deployed in most gaming markets and countries across the world.
Currently, the company provides the system and player interfaces for: Fixed Odds Betting (FOBTs) to betting shops, and race and sports books; Interactive Video Lottery Terminals (IVTs) to lotteries; and slot gaming to the casino industry. Recipient of numerous industry awards, it was the first company in the world with the Gaming Laboratories International, Inc (GLI) approval, a technical certification for downloadable server-based gaming systems in the US casino gaming market. The U.S. parent company commenced trading on the London Stock Exchange in July 2005. (E-02.08.06)
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