WILMINGTON, Delaware, September 14 - Zone4Play, Inc. ("Zone4Play" or the "Company") (OTCBB: ZFPI), a leading developer of interactive software and technology for the betting and gaming industry, announced today that world-leading online gaming operator Golden Palace Ltd has signed an investment agreement with RNG Gaming Ltd., an indirect subsidiary of the Company and with Gaming Ventures plc, a subsidiary of the Company. RNG is a subsidiary of Gaming Ventures, which the Company formed and intends to spin off to its shareholders once certain regulatory approvals are obtained. RNG Gaming Ltd. was established to further develop and license the Black Jack gaming technology to third parties based on a license fee and revenue share basis.
Golden Palace and Zone4Play expect that Blackjack's rising popularity will continue to grow worldwide. As Multiplayer Poker has become one of the fastest growing segments of the online gaming market, the Company believes that the Multiplayer blackjack tournaments have the chance to become similarly popular.
Under the current agreement, Golden Palace will invest $600,000 in exchange for 20% equity in RNG Gaming Ltd., with an option to acquire an additional 30% stake in the company at a valuation of $18m. Through the added value brought by Golden Palace's vast experience and longstanding market leadership, the current investment marks the industry's seal of approval for the white label model RNG Gaming.
"The Tournament Blackjack software is an exciting new addition to the Golden Palace group of games," said GoldenPalace.com CEO. Richard Rowe. "We expect Tournament Blackjack to skyrocket in popularity, and Golden Palace will be at the forefront of this new trend. RNG Gaming's superior software coupled with Golden Palace's ten-year tradition of online gaming excellence is a winning combination."
"While making headway with the spin-off of our exciting new multiplayer Black Jack gaming technology, we are thrilled to have industry leader Golden Palace as a partner", commented Shimon Citron, CEO and Founder of Zone4Play. "This agreement is not only a notable vote of confidence in the software; it serves as yet another testament to the success of our market strategy and innovative technology - and proves that we are playing to win."
About Zone4Play
Zone4Play, a leading developer of interactive software and technology for the betting and gaming industry, delivers cross-platform solutions that are built for mass participation gaming. Zone 4 Play is a software and technology provider to UK bookmakers, online gaming operators, betting exchanges and to US cable, satellite and hospitality service providers, delivering online solutions, mobile solutions, interactive TV solutions and participating SMS-TV solutions. Zone4Play works with industry giants such as British Telecom, Coral Eurobet, Betfair, Channel 5 (UK), cablevision and Lodgenet .For more information visit http://www.Zone4Play.com, the content of which is not part of this press release.
About Golden Palace:
Established in 1997, GoldenPalace.com is one of the pioneers of the online casino industry. With over 90 casino games, one of the world's leading multi-player poker rooms, and wireless mobile gaming, players can enjoy the Golden Palace games anytime anywhere.
For more information, go to http://www.GoldenPalace.com., the content of which is not part of this press release.
Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we say that we expect that Blackjack's rising popularity will continue to grow worldwide, or that we believe that as Multiplayer Poker has become one of the fastest growing segments of the online gaming market, the Multiplayer blackjack tournaments have the chance to become similarly popular, or that the agreement with Golden Palace serves as yet another testament to the success of our market strategy and innovative technology - and proves that we are playing to win, we are using a forward looking statement. These forward-looking statements are based on the current expectations of the management of Zone4Play only, and are subject to a number of factors and uncertainties that could cause actual results, performance or achievements of Zone4Play, including revenues, income and expenses, to differ materially from those described in or implied by these forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; decline in demand for Zone4Play's products; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, strength and growth of the gaming industry, gaming regulatory environment, and other factors over which Zone4Play may have little or no control. Except as otherwise required by law, Zone4Play undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Zone4Play, reference is made to Zone4Play's reports filed from time to time with the Securities and Exchange Commission.
Press contact:
Rinat Rond,
Koteret Public Relations,
Email: rinat_r@koteret.com or Tel: +972-3-575-5778 x112.
