Acquisition a step towards US market push
Online PR News – 15-March-2010 – – California - Greek lottery systems supplier Intralot bought a 35% share in CyberArts Limited, an online gaming software developer to position itself for any future regulated eGaming market in the United States.
Intralot invested US$12M in CyberArts for its 35% stake, with the option of a 51% increase next year.
Intralot sees the partnership between its interactive arm, I2 (Intralot Interactive), and CyberArts as an aggressive pursuance of state lottery contracts in US.
"The acquisition of a strategic stake in CyberArts is a significant step towards expanding the online gaming capabilities of Intralot group in view of impending regulation in European and North American markets," said I2 Managing Director Andreas Papoulias.
Likewise, CyberArts chairman Ken Arnold said "The new partnership with Intralot caps an exciting year for CyberArts. I2 is paving the way to the future of online gaming as a force for good in the highly regulated dot.country market."
The recently built partnership is believed to be eyeing an application for a license to operate intrastate online poker in California. The state is currently considering legalizing intrastate online poker under a specific exemption under the Unlawful Internet Gambling Enforcement Act (UIGEA) 2006.
To know more about Intralot and CyberArts, their partnership, products, and services, visit www.intralot.com and www.cyberarts.com.
Intralot is a leading provider of integrated gaming systems to lottery organizations worldwide delivering cutting edge game content, network integration, transaction processing and value added services, ensuring efficient, secure and profitable operations for their customers.
CyberArts is a universal gaming platform provider with over a decade of internet gaming software development delivering the most advanced enterprise-grade gaming software in the marketplace today.