Pegasus Gaming Signs Up African Licensee
Published: Wednesday, November 16, 2005 Online-Casinos.com
PEGASUS GAMING SIGNS UP AFRICAN LICENSEE
Atlantic Lounge gaming portal to be launched shortly
David Cheng's Pegasus Gaming has plans for the African market judging by an exclusive licensing agreement just signed with a rather nebulous African entity identified only as "Atlantic" which is apparently involved, or is about to become involved in the sportsbetting, online casino and horse racing sectors.
In a press statement released this week, Cheng says that Pegasus will deploy for "Atlantic" sports betting, casino and horse betting facilities during the first phase of deployment, followed by mobile casino and P2P multi-player Poker featuring the Texas Hold'em Poker game.
Cheng usually uses the Chimera Technology gambling software in his offerings, and that is presumably the case with the current agreement. Other facets of the new network will be powered by the Microsoft Window Server Platform and Sun Microsystem Java interface, and "Atlantic" will use Neteller as one of several payment gateways for player financial arrangements.
Under the terms and conditions of this transaction, Pegasus has received payment for the exclusive license and has granted "Atlantic" the right to re-sell sub-licenses in the African region. Pegasus will receive licensing fees for every sub-license sold by "Atlantic" in addition to recurring revenue based on a percentage of the exclusive licensee's and its sub-licensees' total gross income.
Although the Atlantic Lounge domain remains a "domain in waiting" at present, the design of the online gaming site is currently in progress, and Cheng anticipates that "Atlantic's" gaming Web site will be up and running in the near future.
In the last two quarters Pegasus Gaming has confirmed revenues of just under US$ 500 000.
