Zone 4 Play, Inc. (OTCBB: ZFPI), a leading developer of interactive gaming technology, announced today that it has founded Gaming Ventures PLC - a wholly owned subsidiary incorporated in the Isle of Man, in order to further enhance, market and operate its newly-developed multiplayer Black Jack tournaments gaming technology, enabling Internet users to participate in multiplayer Black Jack competitions where permitted by law.
Gaming Ventures purchased the Black Jack gaming technology from Zone4Play based on a valuation made by an independent appraiser. On August 4, 2006, Gaming Ventures filed a registration statement with the Securities and Exchange Commission. To complete the spin-off, Zone4Play plans to set a record date for a dividend of the shares of Gaming Ventures to Zone4Play's shareholders as of such record date, on a one-to-one pro rata basis.
Gaming Ventures will have two main business models: one, through its wholly owned subsidiary, Get21 Ltd ("Get21"), to market the multiplayer Black Jack tournaments gaming directly to consumers and the second, through it's wholly owned subsidiary, RNG Gaming Ltd, to further develop and license the Black Jack gaming technology to third parties based on a license fee and revenue share basis.
Get21 is expected to launch a Black Jack tournament service to non-US customers in mid September. Get21 will seek to outsource to a third party the part of operation that will include payment processing, customer support and fraud and collusion prevention, while it retains and focuses on player acquisition.
"We believe that the Black Jack tournaments gaming technology is a valuable asset and that the founding of Gaming Ventures is the preferred way to pursue this business opportunity for the benefit of our shareholders", said Shimon Citron, CEO of Zone4Play.
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.
Safe Harbor
This press release contains 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 the our board of directors plans to set a record date for a dividend of the shares of Gaming Ventures to our shareholders, that Get21 is expected to launch a Black Jack tournament service to non-US customers in mid September, that the management team will enable a rapid and robust expansion of services, that Get21 will seek to outsource to a third party part of its operations or that we believe that the founding of Gaming Ventures will benefit of our shareholders, 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 or Gaming Ventures' 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.
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Rinat Rond
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