Consortium of Australian Clubs to launch in 2015

London & Dublin  |  29 September, 2014

GameAccount Network plc ("GameAccount" or the "Company"), a leading developer and supplier of enterprise-level B2B gaming software and online gaming content, announces the extension of Simulated Gaming™ into Australia in partnership with a consortium of major land-based Australian community clubs ("Consortium") following their dialogue with relevant Australian regulators. Customary in the regulated land-based Australian casino Industry, the identity of the clubs within the Consortium remains embargoed prior to commercial launch.

It is expected that GameAccount Network and the Consortium will launch a Simulated Gaming™ entertainment experience in Q1 2015 subject to relevant regulatory approvals.

Highlights

  • Real money Internet gaming is currently prohibited in Australia. An estimated A$1bn is lost annually by Australian residents playing offshore on over 2,000 real money Internet gambling websites and social casinos.
  • GameSTACK™ Internet Gaming System already deployed for the benefit of the Consortium will deliver the Simulated Gaming™ entertainment experience nationwide in Australia and provide an upgrade to real-money Internet gaming upon the passage of any relevant legislation.
  • Land-based casinos and community clubs in Australia generate real money gaming revenues of A$3bn annually with the nascent Simulated Gaming™ market opportunity in Australia estimated to exceed A$300m per annum.
  • For club patrons, the Simulated Gaming™ experiences will offer a free-to-play and pay-to-play Internet entertainment experience coupled to their trusted local club brand, offered as a compelling alternative to playing on offshore real money Internet gaming websites and social casinos.
  • For the Club Operator, the Simulated Gaming™ experience offered on desktop and mobile is proven to increase visitation by patrons in the United States and will increase their appeal to younger patrons.

Dermot Smurfit, CEO of GameAccount Network commented:

"Following on the success of Simulated Gaming™ in the United States we're delighted to bring our unique Simulated Gaming™ experience to Australia working closely with an experienced management group from six major Australian community based clubs. This Consortium of clubs has worked closely with its domestic regulators to ensure the Internet entertainment experience complies with State and Federal laws. Simulated Gaming™ has been proven to increase visitation to US casinos and we anticipate the same dynamic in Australia. This pioneering group of clubs will benefit from increased visitation from existing and new patrons and hope to reverse the migration of their patrons to offshore real money Internet gaming websites."

For further information please contact:

GameAccount Network
Dermot Smurfit
Chief Executive Officer
+44 (0) 20 7292 626
dsmurfit@GameAccountNetwork.com

FTI Consulting
Mark Kenny/Jonathan Neilan
+353 1 6633686
gameaccount@fticonsulting.com

Davy
John Frain / Roland French
+353 1 679 6363

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