Internet and television bingo software developer Parlay Entertainment and Entraction Operation Limited of Malta, an online poker network group, are to combine their experience and operational strengths to launch a European-facing online bingo network.
The proposed online bingo network will be powered by a software platform that combines Parlay's front-
end bingo and gaming products with Entraction's back-end administration system; it will be based in Malta and managed by Entraction.
Scott White, CEO of Parlay, said, "By combining the strengths of Parlay's industry-leading bingo games with Entraction's expanding footprint in the European gaming market, we anticipate the creation of a compelling bingo network solution, which will see the launch of multiple brands in the coming months.
The Entraction network is expected to launch at the end of May 2009, and Parlay anticipates it will achieve critical mass very quickly in Q2."
Peter Astrom, CEO Entraction said, "With Parlay's launch of their new multi-lingual, multi-currency bingo platform, Entraction will now be able to focus on the growth of bingo as a core business offering which we expect will complement our rapidly expanding European gaming network. We plan to offer the bingo platform to both existing and new partners, allowing us to make a serious commitment to growing this area of our business."
The deal could be an important fillip for Parlay's waning fortunes – last month the software company reported a 53 percent drop in royalty revenue for FY 2008 compared with FY 2007. The initiative will likely face strong competition in the form of Virtue Fusion Alderney, which recently signed Virgin Games and Paddy Power to its growing number of blue chip Bingo clients.
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