Montreal, Canada
Dynasty Gaming Inc. (TSXV: "DNY") ("Dynasty") on Monday announced the signing of a Strategic Cooperation Agreement with Beijing Sohu New Era Information Technology Co. Ltd, a subsidiary of Sohu.com Inc., (NASDAQ: "SOHU"). Acknowledged as a leading portal, Sohu has more than 100 million registered users, and it is one of the most widely used interactive online sources for information, entertainment and communications in China.
Under the Agreement, both parties will cooperate on content and marketing matters related to Dynasty's mahjong game on Sohu's casual game platform. Such cooperation could be expanded to cover other Asian online games provided by Dynasty.
Albert Barbusci, Chief Executive of Dynasty stated, "This agreement with Sohu represents an important building block in our China strategy and provides us with a powerful, established channel for broadening and deepening Dynasty's distribution reach in China. It is important to note that this agreement focuses both on Mahjong and an additional suite of Asian games. This signals an expansion of Dynasty's value proposition from being a single software provider for the world's most played game, to that of a provider and operator of multiple Asian games delivered through multiple channels, supported by powerful channel partners like Sohu."
Dynasty has already established a relationship with Beijing Junnet Science and Technology Company Limited, one of the largest prepaid card distributors in China, for the marketing and distribution of prepaid cards for accessing play-for-points game sites. As well, Dynasty has partnered with Sun Media Investment Holdings Limited, China's largest multi-media company, which provides a channel for reaching millions of people through multiple electronic and print media networks, and with Betex Group plc, the first non-Chinese company granted the right to co-manage a number of the government-owned sports lotteries and to be officially involved in lottery operations in mainland China. It has been reported that the Government of China is committed, over the next three years, to capturing much of the currently illegal gaming market, estimated by Peking University's Center for Lottery Research, at around $75 billion.
"These links with Sohu, Betex, Junnet and Sun are all part of our larger distribution strategy and all involve revenue sharing," says Barbusci.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this news release.
About Dynasty Gaming Inc.
Dynasty Gaming Inc. is implementing a two-phased strategy to secure a lead position in the Chinese market and within the international online gaming sector with its first-to-market software for an aggregate player, cash wager version of Mahjong, the world's most played game. Through its wholly owned subsidiaries, the company develops, markets, licenses and supports the Mahjong Mania software. The Company has already established relationships with Beijing Junnet Science and Technology Company Limited, one of the largest prepaid card distributors in China, for the marketing and distribution of prepaid cards for accessing play-for-points game sites, and with Sun Media Investment Holdings Limited, China's largest privately owned multi-media provider. An agreement with Betex (www.betexgroup.plc.uk) further expands the range of distribution channels through which Dynasty-sourced content will be marketed and managed in China. Since marketing began in the second half of 2005 for the Company's aggregate model, a number of license agreements have been signed including a contract with Ladbrokes, the world's largest online sports book (www.Ladbrokes.com) whose site now hosts a customized version of Mahjong Mania. Dynasty has also signed Microgaming, an innovative supplier of online gaming solutions to many of the world's leading online casinos and sports book operators.
Dynasty Gaming's 91.5 million common shares, issued and outstanding, are widely held by Canadian and U.S. investors. Full information on Dynasty Gaming can be found at www.dynastygaming.com.
CONTACT: Dynasty Gaming Inc. Albert Barbusci 514-288-0900 Ext. 224 Or Alliance Advisors, LLC Thomas Walsh 646-415-8321
Source: Business Wire (Business Wire India)