Parlay Entertainment Inc.

Parlay Entertainment Inc.

October 18, 2007 07:21 ET

Parlay Entertainment Supplies Standalone Bingo Solution to Paddy Power

Progress with Online Bingo prompts Ireland's leading gaming operator to graduate from Network Model to Standalone Solution.

LONDON, UNITED KINGDOM--(Marketwire - Oct. 18, 2007) - Parlay Entertainment Inc. (TSX VENTURE:PEI), the world's leading supplier of online bingo software, is pleased to announce that Paddy Power plc, Ireland's largest betting and gaming company, has relaunched Paddy Power Bingo under a direct licensing arrangement with Parlay. Previously, Paddy Power Bingo had been part of a bingo network that is also powered by Parlay Entertainment technology.

"Transitioning to a standalone bingo software solution is a significant step for Paddy Power," said Peter Trinz, Senior VP, Parlay Entertainment. "They've seen encouraging growth in liquidity since launching just over a year ago and have proven that bingo complements their existing entertainment portfolio."

Mark Nunan, Head of Online Bingo, Paddy Power said: "When we entered the bingo market a year ago, we appreciated the low barriers to entry that the network model provided, including liquidity, product knowledge and minimal infrastructure costs. With the solid growth we've experienced, our business needs have evolved and we require the independence, flexibility and control offered by the standalone model. We're pleased to enter into a closer relationship with the team at Parlay as part of our solution."

In the world of online bingo, both network and standalone solutions are proven business models. As the industry matures, Parlay has begun to see several large gaming operators like Paddy Power exploring the option of moving away from the incubatory environment of a network and migrating to a standalone solution. "For brands with existing infrastructure, channels and marketing muscle, the standalone solution offers better returns, more control and simply makes more sense," said Trinz.

About Parlay Entertainment

Parlay Entertainment Inc. is the world's leading developer and licensor of online bingo software. Parlay was the first company in the world to develop and deploy a commercial Internet bingo product. Parlay Bingo is available in both 75-number and 90-number versions and is complemented by a full suite of lottery and casino games. Our multi-player, multi-platform technology is used to power more online bingo sites than any other software provider in the world. Some of the world's best-known brands use Parlay Bingo solutions, including Virgin, Unibet and Yahoo. Parlay also powers two leading European bingo networks operated by St. Minver and The Gaming Network. Parlay is headquartered in Oakville, Canada with offices in Bridgetown, Barbados and Valletta, Malta.

About Paddy Power

Paddy Power, founded in 1988 by the merger of three existing Irish high street bookmakers, is listed on both the Irish and London stock exchanges. Since launching in 2000, they have emerged as one of the leading gaming brands in both the UK and Irish markets. In that time, Paddy Power's online gaming business has extended its offering to poker, casino, financial spread betting, skill and fixed odds gaming products.

Paddy Power takes an unconventional approach to betting and gaming believing them to be firmly rooted in the leisure and entertainment space. As such its mission is to make 'risk-based entertainment' more accessible and fun.

The addition of an online bingo product is a perfect fit with its fun, fair and friendly ethos and will allow them to target a wider gaming audience.

For more information on Parlay solutions and services, please visit our Web site at

This document may contain statements about expected future events and/or financial and operating results of Parlay Entertainment Inc. that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.

The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this release.

Contact Information