Operator of The New Football Pools is set to create a joint venture with Playwin to launch a wide range of sports-based gaming products into the Indian market.
Friday 29th January 2010
Sportech, the London-based operator of The New Football Pools, has entered into a joint venture with Playwin to launch a multi-platform sports gaming business for the Indian market.
Playwin is a leading Indian lottery and gaming brand owned by one of the sub-continent's largest conglomerates, Essel Group, and both parties are set to invest an initial stake of two million pounds for 50 percent of the joint venture.
“We are delighted to have signed this joint venture agreement with Playwin,” said Ian Penrose, Chief Executive Officer for Sportech.
“India has a huge population with a long history of being committed sports fans and Playwin is ideal as a partner as it is already India's premier gaming operator and enjoys significant brand strength. This gives Sportech a great partner and platform from which to launch sports-based gaming products into a growing and lucrative marketplace. We look forward to operating a successful business in India as we continue to pursue further international distribution opportunities.”
Sportech revealed that the new joint venture would target Indian sports fans and be promoted across media firm Essel's key assets including the nation’s highest rated television network, Zee TV, and leading cable and direct-to-home operators, WWIL and DishTV.
“India is a sports-loving nation and there is a huge market for gaming,” said Amit Goenka, Chief Executive Officer for Playwin.
“We are glad to have this association with Sportech considering a very wide base of sports fans in the country. With exciting sports games on offer, we are sure both Playwin and Sportech will see great success in the Indian market.
“Innovation has always been the backbone of Playwin's strategy since its inception in 2002 and the basis of all our accomplishments. Moving ahead, we aim to attract and target a significant number of sport lovers through this joint venture.”
