SPORTS BETTING COMING TO ONT ?

SPORTS BETTING FOR ONTARIO?

21 September 2007

ISW negotiating a contract to provide
sports betting software to Canadian
provincial gaming operator


The embattled Ontario Lottery and
Gaming Corporation seems to be
expanding its activities, according
to a press release from New Jersey
based Interactive Systems Worldwide Inc.
which reports that the company is in
negotiations to supply the Canadian
provincial authority with its sports
wagering product.

Recently at the centre of a retail
outlet ticket scandal which resulted
in widespread executive changes in
the top echelons, the OLG has a new
CEO and a firm commitment to fair
and safe gambling on its facilities.

The organisation generates revenues
of $6 billion and employs more than
20 000 employees and associates,
and is one of North America's leading
gaming enterprises.

ISW's announcement confirmed that
the company has received a purchase
order, and shortly expects to receive
an initial deposit of $35 000 from the
Ontario Lottery and Gaming Corporation.

The purchase order authorises the
spending of up to $175 000 for software
development and other services.
This software development is required
for the modification of ISW's SportXction
sports wagering product to add certain
features, including the offering of parley
wagering, required by OLG.

OLG is authorised under Canadian and
provincial law to operate gaming and
wagering businesses within the province
of Ontario.

The companies are currently negotiating
a development/licensing agreement,
which would allow OLG to conduct a
six-month field trial of the modified
SportXction product, after its completion,
for use in up to two casinos. ISW is optimistic
that this field trial will lead to a broader
implementation in multiple casinos and
other on-site gaming venues throughout
Ontario, Canada.

If successful, the system will have
applicability in other Canadian provinces.

The purpose of the purchase order
at this time is to kickstart software
development without waiting for the
completion and signing of the more
definitive licensing agreement.
Actual delivery of the modified software
will not occur until after signing the
licensing agreement.

Bernard Albanese, CEO at Interactive
Systems Worldwide stated, "We are
very pleased with this arrangement.
The purchase order initially provides
the company with some short-term
software development revenue, but
more importantly, we are excited by
the longer-term prospects of a broad
based deployment of the SportXction
product throughout Canada."