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Most Recent Online Casino News

GMEI Exclusively Licenses Its Online Gambling Software

Gaming & Entertainment Group, Inc, a leading provider of online gaming software and advanced server-based gaming systems and downloadable games, today announced that it has entered into definitive agreements with Cantor G&W (Nevada), L.P. (Cantor) that provides long-term financing and creates a strategic worldwide partnership.

The transaction with Cantor provides GMEI with sufficient capital to pursue its planned land-based and Internet initiatives and will allow management to focus solely on developing the business. GMEI has been engaged to develop software for Cantor’s online casino, which will be hosted in Alderney in the British Isles. GMEI has received approval from the Alderney Gambling Control Commission.

Cantor required a software partner that had not participated in accepting online wagers from players in the United States. GMEI satisfies this stringent requirement. It is anticipated that the Cantor casino will go live in 2005, and upon its successful deployment, it is anticipated that GMEI will develop additional online gaming sites for white-label clients of the GMEI/Cantor business. In each instance, GMEI will receive development fees and recurring royalties.

GMEI is aggressively pursuing the placement of fixed-odds betting terminals (FOBTs) and gaming machines in the United Kingdom and in several other markets around the world through direct sales and existing distribution networks. Management of GMEI intends to explore several new gaming markets in order to commercialize its server-based gaming system and to achieve continuous development, enhancement and distribution of all of its proprietary gaming software products, which are anticipated to create significant revenue in the future.

Read the entire article at: marketWIRE 

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