TORONTO, ON--(Marketwired - May 20, 2014) - Consorteum Holdings, Inc. ("Consorteum" or the "Company") (OTCQB: CSRH), an international transaction management and mobile publishing company, today announces that its wholly owned subsidiary, ThreeFiftyNine, Inc. ("TFN"), in partnership with XpertX, Inc., has completed the development work on a new mobile results app for live Keno. With proof-of-concept now validated, this new app is designed to deliver a state-of-the-art mobile Keno solution to virtually any mobile device, regardless of operating system.
"We are very excited to join forces with XpertX, a recognized leader and innovator in Keno gaming since 1987. We believe the ability to deliver real time gaming results to Keno players will be extremely well received in every territory we introduce our application into. For the first time, a Keno player will be able to use his mobile phone and gain access to the results of Keno games played at many casinos across the United States. Mobile is clearly what the Keno customers want and the ability to view Keno results is just the first step in being able to offer a pay-for-play version of this game wherever allowed," Craig Fielding, CEO of Consorteum and president of ThreeFiftyNine, stated.
Consortium worked closely with XpertX, widely recognized as an industry leader in Keno gaming, to validate the mobile app capabilities. XpertX is also the top manufacturer and supplier of live-action Keno systems and Keno-associated products and services. Through a collaborative effort, ThreeFiftyNine and XpertX will provide integral components for the application. ThreeFiftyNine's contributions primarily involve:
- Establishment of game server and various integration functions
- Platform and technology services
- Publishing and distribution of the app
- Various support services, including database management, hosting, billing and data protection, and privacy considerations and compliance
XpertX will enable ThreeFiftyNine to utilize its proven math engine and game logic for the mobile offering, and will contribute the following:
- Back-end Keno software and platform ensuring the integrity of the database
- Backup and recovery to protect all gaming data and prevent loss of data
- Management of all regulatory approval, licensing and auditing in each territory the app is introduced into
- Knowledge of intricacies of Keno and player preferential trends
- Wide-area Keno progressive capabilities with life-changing jackpot potential
- Multiple gaming licenses
- Industry-wide name recognition in live-action Keno
- Long standing vendor relationships with major casino groups
"We are extremely optimistic to join forces with TFN bringing live Keno to mobile gaming within the limits allowed by each jurisdiction," said XpertX founder and President Eric Thomassian. "The game of Keno, by its nature, lends itself quite well to a mobile platform. This venture offers enormous potential not only for TFN and XpertX, but also for Gaming operators in terms of increased opportunities for incremental revenue through wide exposure of Keno to a new, younger audience that is solidly entrenched in mobile technology."
About Consorteum Holdings, Inc.
Consorteum Holdings, Inc. is a transaction management and mobile publishing company focused on transaction processing, including its suite of mobile offerings, delivery of mobile content, 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.consorteumholdings.com.
About XpertX, Inc.
XpertX, Inc. is the leading manufacturer and supplier of live-action Keno systems and Keno associated products and services and also offers a specialized Bingo product called Wild Spots BingoTM. They design, manufacture, distribute and provide service for their Keno and Bingo related products. In addition to its Nevada manufacturer's and distributor's licenses, XpertX holds an OILs license in the State of Nevada, which allows it to operate multi-jurisdictional Keno progressives nationwide. XpertX is the operator of MegaKeno®, Mega10®, and other wide-area progressives. While most of their business is conducted in the United States, XpertX Systems can also be found in casinos and other gambling locations in Canada and in nations worldwide.
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, its limited financial resources, domestic and global economic conditions, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws impacting the Company and its business. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings made with the United States Securities and Exchange Commission.