TORONTO--(Marketwire - Mar 7, 2013) - Consorteum Holdings Inc., a Nevada corporation ("Consorteum" or the "Company") (
Under the terms of the Agreement, Consorteum will purchase a ten percent (10%) ownership interest in Knockout Gaming. Consorteum will act as Knockout Gaming's exclusive provider of financial transaction servicing. In addition, Consorteum will work to open up additional channel partner opportunities across multiple verticals for which the Company will earn various fees.
The Agreement allows Consorteum to resell Knockout Gaming's licensed online gaming platform called FIREPLAY in all legal jurisdictions worldwide. FIREPLAY is a turn-key online gaming platform for gaming operators. Knockout Gaming prides itself on delivering the most advanced games available to players using a cutting-edge platform that is safe, secure and engaging. Knockout has spent the past two years completing a rigorous testing program in order to achieve its gaming license from the Isle of Man. This license approval was only the 47th such license ever granted, and it is critical in differentiating the platform from other competitors.
Craig Fielding, Consorteum's CEO, stated, "Player protection is a crucial issue in the world of online gaming and the license allows us to market our brands as 'player protected' in which the payouts are strictly controlled. Our agreement with Knockout will allow Consorteum to provide customers with a single integrated solution to the complex problems of online gaming with mobile capabilities. In our initial discussions with casino operators, they have indicated that our approach is the total 'one-stop solution' that they are looking to deploy."
"Consorteum is continuing to identify opportunities and demonstrate the revenue potential that online gaming and wagering together represents," continued Mr. Fielding. "We are in discussions with several international offshore properties, and we hope to be able to reach definitive contracts with several new casinos in the near future. This ultimately is a win-win for both companies. With access to capital, Consorteum will be able to execute on its business plan and aggressively pursue opportunities that it has been developing throughout Canada and internationally. We now have the resources to go to market and educate the online and mobile gaming customers about our total solution."
Consorteum is a transaction management and mobile publishing company focused on transaction processing, including its suite of mobile offerings, delivery of mobile content, and mobile payments solutions and products, through a mix of on-deck partnerships, license agreements, and joint venture revenue share arrangements. It operates as a technology and services aggregator to meet the diverse needs of its client base by leveraging a wide range of products and services to develop end-to-end, turn-key card and payment transaction processing solutions. The Company has extensive expertise within the Payments and Transaction Industry in North America and internationally. For more information about the Company, please visit: www.consorteum.com
About Knockout Gaming
Knockout Gaming is dedicated to being a worldwide leader in the gaming industry by offering one-of-a-kind online gaming products and technology to B2C, B2B and B2G markets worldwide. Knockout Gaming's ready-to-operate system, FIREPLAY, is a full back-office technology platform for online gaming operators that offers advanced customized solutions, fully secured payment processing with fraud prevention, and ensures a 24/7 support system. The platform includes a portfolio of over 100 high-quality 3D animated games as well as the very best in 3D video slots, classic slots, poker, bingo, peer-to-peer, tables games, scratch & win, binary option trading and sports betting games. Knockout Gaming holds an Isle of Man gaming license, which is only awarded to companies that have passed a thorough vetting process and have met the highest standards in player protection. Knockout Gaming was the 47th company to be awarded the license over the last 11 years.
In addition to gaming technology, Knockout Gaming operates a wide variety of gaming entertainment companies used to increase the company's reach and recognition to players worldwide. Knockout Gaming has positioned itself to be at the fore-front of the gaming industry for many years to come, particularly in the fastest growing segments of the gaming industry.
For more information, visit www.knockoutgaming.com
Forward Looking Statements
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.