International edition
September 28, 2021

Through 2011

ISWI subsidiary extended its agreement with Sportingbet

(UK).- Interactive Systems Worldwide, Inc. (ISWI) announced that its wholly-owned subsidiary, Global Interactive Gaming Limited, has extended its agreement with a subsidiary of Sportingbet, the online sports betting and gaming group, until the end of 2011.

T

he financial terms of the previous agreement regarding GIG’s fees, which specified that GIG’s monthly revenue would be determined by the greater of a revenue share percentage and a minimum monthly guarantee, are unchanged and will remain in effect for the duration of the extended agreement.

In addition, Sportingbet has agreed to provide to GIG, in a series of four quarterly payments, an advance payment of a portion of the next three years’ monthly minimums. The companies have agreed to a schedule of credits to be provided by GIG to Sportingbet applicable to future monthly service invoices to offset the advance payments.

As a part of this agreement, ISWI has issued to Sportingbet a 5-year warrant to purchase 500,000 shares of ISWI common stock at a price of us$ 0.50.

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