Freedomland Digital TV- broadcasters will offer real-time betting via DTV using SportXction, a patented software platform developed by Interactive Systems Worldwide, Inc. The first product to market of its kind- Digital TV broadcasters look forward to increased memebership and advertising dollars by offering this hot new game.
WEST PATERSON, NJ,–Interactive Systems Worldwide, Inc. (NASDAQ SmallCap:ISWI) announced today that its exclusive licensee and financial partner, Global Interactive Gaming, Ltd. (GIG), signed its third agreement with Italy’s Freedomland Internet Television, Europe’s largest open access Interactive Internet TV provider. This deal is significant for both companies, marking GIG’s first deal with a Pan-European Internet TV (iTV) platform, and Freedomland’s first entertainment-based signing since June of 2001.
The service will significantly enhance Freedomland viewers’ enjoyment of sports, by providing betting propositions on all the key moments in a live Ligaz888 sports event and will be available in early 2002, joining existing content from Blue-Chip partners such as BBC, Sports.com and WHSmith. Simon Mellinger, General Manager of Freedomland, comments, “GIG has come up with a market-leading product that fits perfectly with the demographic of Freedomland subscribers. Gaming is one of the pioneering applications on Internet and interactive TV platforms, and GIG offered Freedomland a great opportunity to be at the forefront of this explosion. It is a product that underlines the convergence between television and the Internet, enhancing and enriching the viewer experience and thus precisely mirroring the Freedomland philosophy.”
Cees Zwaard, CEO of GIG adds; “We firmly believe there is a bright future for interactive TV, especially for value-added, revenue-generating services like ours, that integrate with and complement existing broadcasts. We are thus delighted that Freedomland shares our vision. Freedomland provides the UK’s lowest entry cost for open Internet TV access, so I am highly optimistic that our revolutionary service will soon be available to a much wider audience.”
GIG, backed by the digital services arm of Germany’s Kirch Group, aims to become iDTV’s betting benchmark by providing the first truly interactive consumer based gaming system. The agreement between GIG and Freedomland will provide its subscribers with a betting service that uses as its core technology ISWI’s patented SportXction™ sports wagering software system, which offers continually updated, computer-generated odds on multiple outcomes during the course of a sporting event.
Barry Mindes, Chairman & CEO of Interactive Systems Worldwide, Inc. stated: “Including Telewest and ITV, this marks the third agreement between GIG and a major Interactive TV provider and further validates GIG’s global marketing strategy. Freedomland’s sports viewers will enjoy enhanced on-screen action through a picture-in-picture interface that allows for frequent, but relatively small wagers to be placed on the outcome of individual events throughout a game in real-time.”
SportXction™ is a patented, real-time, software system, which allows a player to make play-by-play wagers on a sporting event while the event is in progress. Wagering may be conducted while viewing a television broadcast of a sporting event. The wagers offered are mostly oriented to short-term plays, for example, is the next play a run or a pass, is the next pitch a ball or a strike, does the shooter make two foul shots, and many more, including parlays, in most sports. The wagers have odds associated with them, which relate to the probable outcome of the proposition being wagered upon, and the odds are adjusted in real time by proprietary artificial intelligence software to reflect player sentiment, as derived from the betting patterns. The system also supports traditional, pre-game sports wagers.
About ISWI – GIG License Agreements
Under the Agreements, signed on March 17, 2000, GIG was granted the exclusive license to market, distribute and use the Company’s interactive SportXction™ software, technology and patents where such technology is legally usable, including for contests and wagering on sporting events world-wide. Under these Agreements, the Company will receive a revenue share, subject to a guaranteed minimum annual license fee.
Established in Italy in April 1999 and floated on the Milan Stock Exchange in April 2000, Freedomland is Europe’s largest open access Internet TV offering a low entry cost
for open Internet TV access at just £ $9.99 per month, connection to Freedomland via a
set top box (free with the subscription) and takes less than 10 minutes with three simple connections (SCART lead, power and telephone line). Freedomland offers a High Street shopping experience from the comfort of your own living room with a host of first rate content from more than 30 retail partners. More information on the company website at www.freedomlandonyour.tv
About GIG & Prisma iVentures
Global Interactive Gaming Ltd. was created in April 2000 as a joint venture between Prisma iVentures Ltd, and Multisports Games Development, Inc (MGDI) of Delaware, USA. Prisma iVentures is a dedicated digital services company 90 percent owned by TaurusSport GmbH. The latter is a wholly-owned subsidiary of KirchMedia GmbH & Co. KgaA, the division of Kirch Group responsible for commercial-free television, license trading, New Media, sport, film and TV production and for film technology. KirchMedia is a multimedia conglomerate whose annual revenues are in the multi-billion dollar range.
Formed in 1999, Prisma iVentures’ mission is to create a portfolio of companies focussing on different aspects of the digital distribution and production of sports content. By identifying and developing added value for rights holders in the future, the aim is to create a significant lead in new media applications for sport.
Prisma iVentures’ sister company, KirchSport GmbH, is wholly owned by TaurusSport and manages the broadcasting rights for world-class sports properties such as the 2002 and 2006 FIFA World Cup™ in Europe; the Ice Hockey World Championship; the Wimbledon Tennis Championships and Germany’s Bundesliga. KirchSport also markets television, sponsorship and advertising rights for four other European soccer leagues, 11 European national associations and more than 25 football clubs. Through this connection GIG gains access to the vast experience of one of the world’s leading sports marketing organizations.
This press release contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including, but not limited to, whether the interactive betting service will be launched on the projected dates; and whether use if the system will increase Freedomland’s subscriber revenue and the consequences thereof to GIG and the Company. Investors are cautioned that these statements involve risks and uncertainties. Additional risks and uncertainties are detailed in the Company’s filings with the Securities and Exchange Commission, including its Form 10-KSB for the year ended September 30, 2000.