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PARLAY SHEDS NON-CORE ASSETS

Top Canadian online bingo software developer and provider Parlay Entertainment Inc., has announced the completion of a series of transactions which provide for the divestiture of its non-core assets. The total consideration to Parlay from the divestiture is USD$2 810 000 and the initiative mainly involves US-facing licensees recruited prior to the enactment in October 2006 of the Unlawful Internet Gambling Enforcement Act.
 
Parlay's statement explains that since early 2005 the company has increasingly diversified in non-U.S. regions such as the U.K. and Europe. As a result, certain assets which include licensing arrangements with what the company describes as "legacy" customers in non-regulated jurisdictions have become less important.
 
Accordingly, the company has, from May 1 this year, shed these assets and agreements and will no longer offer its software to gaming operators who do not operate within regulated jurisdictions.  The divestiture includes the sale of some software license agreements, as well as the sale of non-exclusive, limited and personal rights in some of Parlay’s older software technologies together with a commitment that Parlay provide limited support arrangements during a transitional period.
 
The sales have garnered a total of just over USD$ 2.8 million, and the company will no longer accrue royalty revenues from the sold assets. Royalties earned up to May 1 2008 will be payable under regular commercial terms.
 
Parlay CEO Scott White comments: “Parlay’s management has been mindful of the uncertainty created by recent legislative changes and as a result, has reviewed both the composition of and the jurisdictions which are the focus of its existing customer base.
 
"The divestiture of these assets provides excellent value for Parlay’s shareholders while at the same time allowing Parlay to focus all of its future efforts on the development, marketing, licensing and support of Internet gaming technologies into regulated jurisdictions”.
 
Some of the world's most recognisable bingo brands are powered by Parlay, including Virgin, Yahoo!, Paddy Power, Bet24, NetPlay TV, Bingos.com and the St. Minver bingo network. 



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Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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