The acquisition for a consideration of $1.2 million includes a suite of 40 internet casino games translated in 9 languages, a sportsbook software covering North American and International sport events and a full suite of reporting tools designed specifically for licensing to third parties.
UPDATE: The company announced that it has embarked on a strategy of licensing the software to third parties.
CYOP intends to make available the software to existing portals, online gaming operators and brick & mortar casinos whereby they pay set up fees, and an ongoing percentage of the net revenues to the company.
Third party operators will be responsible for marketing the licensed websites and for driving traffic to be converted into cash play.
“We are attacking this fast-paced marketplace through acquisition and organic growth. The US marketplace has adopted online gaming as a viable form of mainstream entertainment, and we intend to license our software to interested third parties. We also plan to continue to team up with existing entertainment providers in Asia and Europe and build joint ventures using their expertise in the localized markets,” commented Mitch White, CEO of CYOP.
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