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AMAYA WINS LONG-TERM CONTRACT WITH REPUBLIC OF ARMENIA
Canada Newswire
http://www.newswire.ca/en/story/876959/amaya-wins-long-term-contract-with-republic-of-armenia
Nov 14 2011
MONTREAL, Nov. 14, 2011 /CNW/ - Amaya Gaming Group Inc. (TSX.V:
AYA), an entertainment solutions provider for the regulated gaming
industry, today announced that it has been awarded an exclusive,
10-year contract with the the Government of the Republic of Armenia
to implement a national lottery and to provide central reporting and
integrity services. Lottery programs will be deployed through both
traditional sales channels and Short Message Service (SMS Lottery).
Amaya will install and deploy the Amaya Central Reporting Module
(Amaya CRM) on all electronic gaming devices operating in the
Republic of Armenia for the next 10 years. The Amaya CRM provides the
government with real-time reporting tools to capture and monitor gaming
transactions, improve tax efficiency and promote gaming integrity. The
agreement represents a significant milestone as Amaya's first mandate
to install the Amaya CRM and further strengthens the Company's position
as a provider of comprehensive government gaming solutions.
"We are very pleased to begin a mutually beneficial long-term
relationship with the Government of Armenia," said David Baazov,
President and Chief Executive Officer of Amaya Gaming Group. "Our
lottery and integrity solutions are providing us with a platform
to expand our technology footprint and grow our relationships with
customers in new jurisdictions."
On October 27, 2011, Armenian finance minister Vache Gabrielian
first announced the collaboration in principle between the Armenian
Government and Amaya to create Amaya Armenia, a joint company on a
parity basis with the income from the lottery being distributed equally
between the principals. The Minister expects that the partnership
will secure several billion drams annually in additional revenue,
with 2 billion drams expected in 2012, and 7 billion in 2013.
The Minister also announced that the Government is planning to
collaborate with Amaya on the establishment of a centralized system
of control and accounting to prevent fraud, money laundering and
other forms of economic crime.
About Amaya Gaming Group
Amaya is engaged in the design, development, manufacturing,
distribution and sale of technology based gaming solutions for the
regulated gaming industry worldwide. For more information please
visit www.amayagaming.com.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express
management's expectations or estimates of our future performance
constitute "forward-looking statements" within the meaning of
applicable securities laws. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable by management at this time, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Investors are cautioned not to put undue reliance on
forward looking statements. Except as required by law, Amaya does not
intend, and undertakes no obligation, to update any forward-looking
statements to reflect, in particular, new information or future events.
"Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
For further information: Mr. David Baazov Jeff Codispodi
President and Chief Executive Officer The Equicom Group Amaya
Gaming Group Inc. 416-815-0700 ext. 261 North America:
1-866-744-3122 [email protected] Worldwide:1-514-744-3122
http://www.amayagaming.com
Canada Newswire
http://www.newswire.ca/en/story/876959/amaya-wins-long-term-contract-with-republic-of-armenia
Nov 14 2011
MONTREAL, Nov. 14, 2011 /CNW/ - Amaya Gaming Group Inc. (TSX.V:
AYA), an entertainment solutions provider for the regulated gaming
industry, today announced that it has been awarded an exclusive,
10-year contract with the the Government of the Republic of Armenia
to implement a national lottery and to provide central reporting and
integrity services. Lottery programs will be deployed through both
traditional sales channels and Short Message Service (SMS Lottery).
Amaya will install and deploy the Amaya Central Reporting Module
(Amaya CRM) on all electronic gaming devices operating in the
Republic of Armenia for the next 10 years. The Amaya CRM provides the
government with real-time reporting tools to capture and monitor gaming
transactions, improve tax efficiency and promote gaming integrity. The
agreement represents a significant milestone as Amaya's first mandate
to install the Amaya CRM and further strengthens the Company's position
as a provider of comprehensive government gaming solutions.
"We are very pleased to begin a mutually beneficial long-term
relationship with the Government of Armenia," said David Baazov,
President and Chief Executive Officer of Amaya Gaming Group. "Our
lottery and integrity solutions are providing us with a platform
to expand our technology footprint and grow our relationships with
customers in new jurisdictions."
On October 27, 2011, Armenian finance minister Vache Gabrielian
first announced the collaboration in principle between the Armenian
Government and Amaya to create Amaya Armenia, a joint company on a
parity basis with the income from the lottery being distributed equally
between the principals. The Minister expects that the partnership
will secure several billion drams annually in additional revenue,
with 2 billion drams expected in 2012, and 7 billion in 2013.
The Minister also announced that the Government is planning to
collaborate with Amaya on the establishment of a centralized system
of control and accounting to prevent fraud, money laundering and
other forms of economic crime.
About Amaya Gaming Group
Amaya is engaged in the design, development, manufacturing,
distribution and sale of technology based gaming solutions for the
regulated gaming industry worldwide. For more information please
visit www.amayagaming.com.
Disclaimer in regards to Forward-looking Statements
Certain statements included herein, including those that express
management's expectations or estimates of our future performance
constitute "forward-looking statements" within the meaning of
applicable securities laws. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable by management at this time, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Investors are cautioned not to put undue reliance on
forward looking statements. Except as required by law, Amaya does not
intend, and undertakes no obligation, to update any forward-looking
statements to reflect, in particular, new information or future events.
"Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
For further information: Mr. David Baazov Jeff Codispodi
President and Chief Executive Officer The Equicom Group Amaya
Gaming Group Inc. 416-815-0700 ext. 261 North America:
1-866-744-3122 [email protected] Worldwide:1-514-744-3122
http://www.amayagaming.com