ISWI’s SportXction(TM) Software Provides Basis For Agreement Between Ligaz888 GIG And Telewest Communications To Launch First Fully Interactive Betting Service On Digital TV
Interactive Systems Worldwide, Inc. (NASDAQ:ISWI), based in West Paterson, NJ, developed and patented a software platform which enables users to wager play-by-play while watching a live sporting event. ISW and its partner Global Interactive Systems, Ltd. have issued two releases today outlining agreements that have been made (TeleWest Communications and ITV Digital) with two of the largest digital TV providers in the UK.
WEST PATERSON, N.J.–Sept. 10, 2001–Interactive Systems Worldwide, Inc. (NASDAQ SmallCap:ISWI – news) announced today that its exclusive licensee and financial partner, Global Interactive Gaming, Ltd. (GIG), signed a landmark agreement with Telewest Communications, one of the leading broadband communications and media groups in the UK, to provide them with the world’s first, fully interactive, play by play betting system, for use in conjunction with their digital TV service. Telewest provides cable television and Internet access to approximately 1.7 million households (approximately 4 million customers). This agreement between GIG and TeleWest Communications will provide its subscribers with a betting service that uses as its basis ISWI’s patented SportXction(TM) gaming system.
In this agreement to jointly develop and adapt GIG’s interactive gaming product, whose core technology is licensed from ISWI, the two companies will be ready to roll out a test service in Fall of 2001, with a full launch to Telewest digital cable TV customers early in 2002. The licensing agreements signed in March 2000 between ISWI and GIG provides ISWI with license fees representing a share of all revenue from all systems utilizing its technology. (For more information see “About ISWI – GIG License Agreements”, below.)
Barry Mindes, Chairman & CEO of Interactive Systems Worldwide, Inc. stated: “This first agreement between GIG and a major digital TV provider is a significant milestone for both ISWI and GIG and validates GIG’s gaming …