SportXction For Neptune
Published: Thursday, December 06, 2007 Online-Casinos.com
SPORTXCTION FOR NEPTUNE
License agreement close, but liquidity remains a concern
The owners of the SportXction wagering software, Interactive Systems Worldwide, Inc. have agreed a deal with Neptune Race and Sports Book, Inc. which should see fruition early in the new year.
Neptune currently provides turnkey race and sports wagering systems and services for use in cruise ship and resort casinos. The intention of the agreement is for Neptune to license the ISW's SportXction to add play-by-play wagering to its existing capabilities in current and future casino venues. It is anticipated that Neptune's personnel will operate the system from Neptune's operations hub located in Nevada, and ISW will receive a share of the revenue in addition to initial upfront service fees.
ISW took the opportunity afforded by the Neptune announcement to reveal that its monthly SportXction wagering volume for November in the UK has topped $3 million for the second consecutive month, almost reaching October's record turnover of $3.1 million. The system is operated by wholly owned subsidiary Global Interactive Gaming Ltd. Discussions are taking place with several domestic and foreign companies in the gaming industry, a company spokesman disclosed, and it is hoped that additional bookmaking partners to the UK service through GIG will shortly be announced.
ISW's limited cash resources remain a top management concern, and the company is working with its investment banking advisers to solve liquidity issues.
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