Archive for January, 2010

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Playtech and Scientific Games join to develop online gaming products

Saturday, January 30th, 2010
Scientific Games Corp. (http://finance.yahoo.com/q?s=SGMS), manufacturer of video lottery terminals and other gaming systems, announced that it will form a joint venture with Playtech Limited (http://bvi-companies.blogspot.com/2007/02/playtech-limited.html), a gaming software developer registered in the British Virgin Islands. The entity called Sciplay and formed with the purpose to develop new products will focus on the online market for government-regulated lottery and gaming.
Scientific Games and Playtech (http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=VGG7131X1078GBGBXAMSM) will also work together on developing gaming terminals using Playtech’s Videobet software and technology expertise. Both companies said their partnerships will not make significant impact on the earnings of Scientific Games in 2010, but will add some earnings to Playtech. In the next year, the joint venture is expected to boost earnings at both companies.

Scientific Games Corp., manufacturer of video lottery terminals and other gaming systems, announced that it will form a joint venture with Playtech Limited, a gaming software developer registered in the British Virgin Islands. The entity called Sciplay and formed with the purpose to develop new products will focus on the online market for government-regulated lottery and gaming.

Scientific Games and Playtech will also work together on developing gaming terminals using Playtech’s Videobet software and technology expertise. Both companies said their partnerships will not make significant impact on the earnings of Scientific Games in 2010, but will add some earnings to Playtech. In the next year, the joint venture is expected to boost earnings at both companies.

Posted in BVI Company Joint Ventures, BVI IBC Business News, Investors' News | No Comments »

BVI-controlled company to sell its health clubs in Western Australia

Tuesday, January 26th, 2010
The chain of health clubs, Zest, the ownership of which in 2008 was transferred to a new British Virgin Islands-registered holding company Feisty Ltd, has sold seven of its twelve clubs in Western Australia. The sale will make the purchaser Ardent Leisure, Sydney-based owner of the Goodlife chain, the biggest operator in the region.
By words of Ardent chief executive Greg Shaw, the company had negotiated over Zest’s clubs in Western Australia since it bought 10 of the chain’s outlets in South Australia and Queensland in April 2008. During the next 18 months, Ardent will rebrand the clubs under its Goodlife banner and spend US$2.1mln on upgrades.
The transaction totally amounting US$42mln includes US$1mln cash and the balance in Ardent stock.

The chain of health clubs, Zest, the ownership of which in 2008 was transferred to a new British Virgin Islands-registered holding company Feisty Ltd, has sold seven of its twelve clubs in Western Australia. The sale will make the purchaser Ardent Leisure, Sydney-based owner of the Goodlife chain, the biggest operator in the region.

By words of Ardent chief executive Greg Shaw, the company had negotiated over Zest’s clubs in Western Australia since it bought 10 of the chain’s outlets in South Australia and Queensland in April 2008. During the next 18 months, Ardent will rebrand the clubs under its Goodlife banner and spend US$2.1mln on upgrades.

The transaction totally amounting US$42mln includes US$1mln cash and the balance in Ardent stock.

Posted in Agreements and Contracts concluded | No Comments »

Securities Awareness Campaign announced by BVI-registered Play LA Inc

Friday, January 22nd, 2010

Play LA Inc., a British Virgin Islands-registered advertising and publishing company to the online and mobile gaming industry, announced its plan to launch a Securities Awareness Campaign. The purpose of the awareness campaign, which will last from January 19 to August 15, 2010, is to assist in promotion of BVI company’s image and recognition amongst private investors. For this, the company will inform about its current and future objectives and potential with the intent to attract investors and stakeholders.

According to the information provided by the company, this campaign is similar to an advertising campaign, presenting a series of advertisements sharing a single idea and theme. It may also include the launch of a new web based investor relations platform, hiring of investor relations specialists, sponsoring research reports, placing ads on websites, interacting on message boards, etc.

Play LA also noted that its representatives, including the CEO of the company David Hallonquist, will attend the International Gaming Expo 2010, which will take place from 26-28 January at Earls Court Exhibition Centre in London, and actually is the world’s premier showcase in gaming and betting industry.

Currently, Play LA owns and operates 11 websites providing the unique sports news, advice and tournament information for the Sports, Casino Games and the Poker industry.

Posted in BVI IBC Business News, Investors' News, NASDAQ listed BVI Companies | No Comments »

BVI-registered Windworks Engineering signs MoU with UK-based company

Monday, January 18th, 2010
Windworks Engineering Inc. (http://finance.yahoo.com/q?s=WEI.DE), a British Virgin Islands-registered company working in the renewable energy segment in the area of wind turbine development, announced the signing of Memorandum of Understanding (MoU) with Wilton Rest Homes Ltd., a leading provider of retirement and health care services in the south east of England. According to the agreement, the BVI company will supply 30 5kW vertical axis wind turbines, which will be installed across their retirement home portfolio. Also, under the terms of the MoU, Windworks will be the exclusive supplier of wind turbines for Wilton Rest during five years.
The signing of the MoU will help the BVI company to provide the basis in the renewable energy market in the United Kingdom. In December 2008, Windworks signed a MoU with Lucky Country International, a world class manufacturer and exporter of liquorice products, having manufacturing facilities in North Carolina, USA and Australia. Currently Windworks has discussions with other leading companies for signing other MoUs.

Windworks Engineering Inc., a British Virgin Islands-registered company working in the renewable energy segment in the area of wind turbine development, announced the signing of Memorandum of Understanding (MoU) with Wilton Rest Homes Ltd., a leading provider of retirement and health care services in the south east of England. According to the agreement, the BVI company will supply 30 5kW vertical axis wind turbines, which will be installed across their retirement home portfolio. Also, under the terms of the MoU, Windworks will be the exclusive supplier of wind turbines for Wilton Rest during five years.

The signing of the MoU will help the BVI company to provide the basis in the renewable energy market in the United Kingdom. In December 2008, Windworks signed a MoU with Lucky Country International, a world class manufacturer and exporter of liquorice products, having manufacturing facilities in North Carolina, USA and Australia. Currently Windworks has discussions with other leading companies for signing other MoUs.

Posted in Agreements and Contracts concluded, BVI Company Contracts | No Comments »

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