World IT Report: Online Casino targeting Latin American audience to be launched next

Internet gaming solutions provider, Online Gaming Systems, is to launch an Internet casino linked to the UnoDosTres.com Internet Television Network, targeting the Latin American marketplace. Depending upon the length of time to complete the licensing process, the Casino is expected to go live during the second quarter of 2002. OGS has previously disclosed its agreement with UnoDosTres.com to develop and operate up to three online casinos.

OGS and affiliates of South Africa's Hoskin Consolidated Investment Limited (HCI) have completed an operating agreement for the casino, whereby affiliates of HCI will provide the financing for the casino and be the principal shareholders of the to-be-formed company, and OGS will provide the management and marketing for the casino, and contribute certain of its rights attained through the UnoDosTres agreement.

UnoDosTres (UDT) will contribute up to $155 million of bartered television and radio advertising for the promotion and marketing of the casinos, via its consortium of media and broadcasting partners throughout the United States, Latin America and the Iberian Peninsula. UDT will receive a portion of the net revenue generated from the gaming sites.

UDT will provide $50 million of bartered television and radio advertising for the casino over a five-year period. OGS will provide management and marketing services through its Australia and Las Vegas offices. OGS will receive a minimum management fee of $600,000 annually, plus incentives of up to $2 million annually if certain operating thresholds are achieved. -(World IT Report)