CG Technology™ And Logrand Group Sign System Licensing Agreement
CG Technology's state-of-the-art sports book system will be available in Mexico's largest casino, located in Nuevo Leon, as well as in seven additional casinos
Agreement represents CG Technology's first business venture in Latin America and underscores its international expansion plans
LAS VEGAS, April 7, 2014 /PRNewswire/ -- CG Technology™, a preeminent technology company and Logrand Group, a leading entertainment and gaming operator in Mexico, announced today that they have signed an agreement for CG Technology to license its state-of-the-art sports book system, which includes mobile sports wagering, back end account management, and wallet functions at eight Logrand Group casinos in Mexico, including Jubilee casino in Monterrey, Nuevo Leon, which is Mexico's largest casino. Under the terms of this agreement, Logrand Group will be able to utilize CG Technology's software in additional locations as their business expands.
This marks CG Technology's first technology licensing deal in Latin America. In addition to seeking opportunities in Latin America, CG Technology is exploring race and sports book expansion opportunities internationally.
"We are delighted to work with the Logrand Group and bring our state-of-the-art licensing and software solutions to their casinos, including Jubilee, Mexico's largest casino," said Lee M. Amaitis, President and CEO of CG Technology. "CG Technology estimates it has in excess of 25% of the Nevada sports wagering market and that over half of these wagers are conducted on mobile devices in Nevada. Our leading expertise in this area means we are perfectly positioned to elevate Logrand Group's entertainment offering, especially as we introduce customers to the ease, convenience and excitement of mobile sports wagering applications, a phenomenon we are delighted to bring to the Logrand Group."
Mr. Amaitis continued: "We are pleased to partner with a major gaming presence in Mexico and help them navigate the recent changes in the regulatory landscape and the enforcement of account-based wagering, an area we have deep expertise in. This represents our first deal in Latin America, a region we have long seen inherent value in and it underscores our dedication to international expansion as we continue to broaden the reach of our world-class technological platform."
"We are excited to partner with CG Technology, selected for their state-of-the-art sports book and technology systems, as well as their deep experience in account-based and mobile sports wagering," said Julian Symaniw from the Logrand Group. He continued: "Working with CG Technology, we are well placed to respond to recent changes in gaming regulation that require account-based sports wagering, an area CG Technology is reputed in. In addition, we chose CG Technology to heighten our customer experience, by offering mobile sports wagering for the first time. We look forward to a long and fruitful relationship with CG Technology and to welcoming in a new era of gaming technology at our casinos."
CG Technology's sports book system will be licensed to eight casinos operated by Logrand Group. These casinos are located in: Monterrey, Nuevo Leon; Cancun, Quintana Roo; Guadalajara, Jalisco; Villahermosa; Tabasco, Guasave; Sinaloa, as well as soon to be open locations in Merida, Yucatan.
About CG Technology™
CG Technology, formerly known as Cantor Gaming, is a preeminent technology company providing innovative technological products serving the worldwide gaming industry. CG Technology provides private networks, systems, operations, management services, system licensing, and hardware and software design and development. In addition, CG Technology develops casino games with web hosting platforms for casinos. As the first company licensed by the Nevada Gaming Commission to manufacture, distribute and operate a mobile gaming system in the state, it is also a leader in providing mobile gaming technology for casino-style games, and mobile sports wagering technology in the state of Nevada and internationally, via Android™ and Apple® compatible applications, as well as comprehensive account-based systems for race and sports books.
Outside of the U.S., CG Technology has licensed its state-of-the-art mobile gaming and race book and sports pool systems, as well as risk management consulting services, to Atlantis, Paradise Island in the Bahamas. In addition, CG Technology has an agreement with Celebrity Cruises to offer its innovative mobile gaming technology on a selection of high-end Celebrity Cruises ships, marking the first time the cruise industry has offered customers a mobile casino gaming application. CG Technology is passionate about applying best-in-class technology to offer customers a unique, innovative and memorable gaming experience.
About Logrand Group
Logrand Group includes several companies, as well as focusing on operating gaming and entertainment establishments within Mexico, we are synonymous with excellent quality service and high level entertainment, making sure our customers always have the most unique and unforgettable experience. We are proud to promote a culture of safety and responsible gaming and at all times remain highly respectful of all regulations concerning gaming and all regulatory governmental bodies.
We make FUN, a serious business.
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SOURCE CG Technology
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