CasinoCityTimes.com

Gurus
News
Newsletter
Search News Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
 

LVGI, Golden Pond sign deal

7 November 2006

LAS VEGAS, Nevada – (PRESS RELEASE) -- Las Vegas Gaming, Inc. and Golden Pond 57 (Pty) Ltd. have entered into a joint venture agreement, creating a new wholly owned gaming company. The new operating company, Golden Gaming (Pty) Ltd., will be based in South Africa and will exist for the purpose of exploring any and all gaming and lottery opportunities on the African continent.

LVGI's Chief Marketing Officer Stephen Crystal explained the agreement. "The new company was formed to capitalize on Golden Pond's existing relationships in the gaming and lottery industries in Africa, and to ensure the utilization of LVGI's technologies, including our new PortalVision(TM) product. PortalVision is an LVGI product sure to benefit the global lottery business. Golden Gaming already has two lottery countries queued up for introduction in the African lottery market."

Golden Pond CEO Gladwin Marumo said, "This is a tremendously exciting venture. Golden Pond has extensive contacts in the lottery and gaming industries across the continent, and we are very interested in the potential that LVGI's technologies bring to the market."

LVGI's International Sales Manager, Bill Williams will manage LVGI operations to include the transfer of technology and expertise to Golden Gaming, whose executive oversight will be handled by Gladwin Marumo in South Africa. Having launched some of the largest lottery operations on the African continent, LVGI's Vice President of International Sales Mark Hutchinson will act as Key Employee for the start up of the joint venture company, Golden Gaming.

< Gaming News