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| Harrods to launch online casino |
11/26/2000 Gaming Internet to operate Harrods Online Harrods, the famous Knightsbridge department store recently announced that it has signed a deal with Gaming Internet to launch an Internet casino. This is the first time Harrods has extended its brand beyond retailing, and follows the launch of a revamped online store. Gaming Internet has paid ?900,000 for the rights, which Harrods has opted to take in shares. Fortuna Universal Juegos Globales, a subsidiary of AIM-quoted Gaming Internet, is to operate a new casino for Harrods Online. The agreement is on a 3-year fixed term basis with a rolling 12-month contract thereafter. The marketing of harrods-casino.com will be shared between Fortuna and Sporting Resorts, the leisure subsidiary of stores group Harrods. Gaming Internet is to pay Sporting Resorts an initial 3 million GI shares worth ?900,000. A further 1 million shares will be payable on the fourth and fifth anniversary of completion of the agreement. Sporting Resorts has also agreed not to sell any new shares issued under the contract for one year after their issue without the consent of the company or its nominated adviser Customers of the Harrods Casino will be able to play a variety of games - such as roulette and blackjack - in 11 different languages including Chinese and Mandarin. Branded casinos are proving very profitable, and a number of companies had appraoched Harrods before they signed with Gaming Internet. |
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