Playgon Games Inc. enters into licensing and distribution agreement with Relax Gaming
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"This is a meaningful agreement for Playgon, which further validates the innovation we are bringing to the live dealer market," president and CEO Darcy Krogh said
Relax Gaming will add and market Playgon's proprietary mobile-first live dealer and E-table game offerings under the VegasLounge brand
Playgon Games (TSX-V:DEAL, OTCQB:PLGNF) Inc., a software-as-a-service (SaaS) company delivering mobile live dealer technology to online gaming operators, said it has signed a multi-jurisdictional software license and distribution agreement with Relax Gaming.
Under the terms of the agreement, the Vancouver-based company said Relax Gaming will add and market Playgon's proprietary mobile-first live dealer and E-table game offerings under the VegasLounge brand, to its content library for availability and distribution to Relax Gaming's global client base.
The agreement is for three years with license fees based on commercial revenue sharing rates. Integration work will start imminently with anticipated customer onboarding to begin early in 2022, the company added.
"This is a meaningful agreement for Playgon, which further validates the innovation we are bringing to the live dealer market," president and CEO Darcy Krogh said in a statement.
"This partnership will give our live dealer product extensive reach into lucrative key markets through Relax's top tier customer accounts, as it is their first and only live dealer integrated product. We expect this partnership will play a significant role in our revenue growth this year.”
Formed in 2010, Playgon Games (TSX-V:DEAL, OTCQB:PLGNF) noted that Relax Gaming has become a market-leading iGaming aggregator that provides operators with unique digital content from its proprietary catalogue, as well as content from hand-picked third-party partnerships, which will include Playgon.
Additionally, it said Relax Gaming supports some of the largest gaming brands in the online gaming market and is recognized as a multi-award-winning aggregator, with recent accomplishments in 2021 including EGR's Innovation in Mobile and Casino Software Provider.
"We're absolutely thrilled to have reached an agreement with Playgon," said Simon Hammon, chief product officer at Relax Gaming.
"They're an incredibly talented, forward-thinking company, renowned for taking entertaining live dealer games to the next level. This, coupled with their exciting e-table games, will further diversify our offering, helping us to continue driving differentiation.”
Playgon Games (TSX-V:DEAL, OTCQB:PLGNF) is focused on developing and licensing digital content for the growing iGaming market. It provides a multi-tenant gateway that allows online operators the ability to offer their customers innovative iGaming software solutions. Its current software platform includes Live Dealer Casino, E-Table games, and Daily Fantasy Sports, which, through a seamless integration at the operator level, allows customer access without having to share sensitive customer data.
