WinnerOnline-Editorial

Source: PRNewswire

(West Paterson, N.J.) - Interactive Systems Worldwide, Inc.’s (OTC Bulletin Board: ISWI) wholly-owned subsidiary, Global Interactive Gaming Limited (GIG), has signed a contract with Sunderlands Online Limited (Sunderlands).

Under the terms of the agreement, ISWI’s SportXction(R) play-by-play sports betting system will be incorporated into Sunderlands’ website, www.sunderlands.eu as well as into several other related European and Asian websites through Sunderlands’ joint venture agreements.

The system is expected to launch later this year.

Sunderlands does not currently offer its customers any in-run wagering, i.e. wagering during a sporting event.

The agreement calls for GIG to be Sunderlands’ primary in-run betting provider.

The agreement will provide GIG with an upfront fee as well as a share of the monthly wagering revenue.

GIG’s revenue share will be subject to certain monthly minimum fees. GIG will furnish the technology and operate the system, while Sunderlands will be responsible for promoting the product through a series of marketing initiatives.

Sunderlands will also be responsible for providing first level customer support and processing customer financial transactions.

In addition, Sunderlands has agreed that the SportXction(R) system will not be used to accept bets from anyone in the U.S.

Bernard Albanese, Chief Executive Officer of ISWI, said:

"We are thrilled that Sunderlands has chosen us as their in-run betting provider. Sunderlands is recognized for its strong online, telephone and on-course betting presence in the UK and Europe. We believe our software will provide Sunderlands’ customers with some exciting new ways to enhance their wagering experiences."

According to Dave Grogan, Chief Executive Officer of Sunderlands:

"SportXction provides Sunderlands Online with a tremendous platform for in run betting and a first class partner. As one of Europe’s fastest growing bookmakers, we are driven by meeting the needs and expectations of our customers. We are sure they will be delighted with this service."

The agreement between Sunderlands and GIG is for an initial 18-month term.

The plan is that the initial implementation for Sunderlands will consist of an enhanced version of the Company’s stand-alone product, which will require the customer to log in only once.

It is the intention of both parties to migrate to the Company’s integrated version of SportXction(R) product after certain technology changes are implemented in Sunderlands’ back-end system.