Ganapati plc - Endorsement Agreement with Usain Bolt
PR Newswire
London, January 15
15 January 2020
Ganapati Plc
("Ganapati" or "the Company")
Trading Update signing of an Endorsement Agreement with Usain Bolt
The Directors wish to inform shareholders of the following commercial development:
Ganapati Plc, the international developer and supplier of iGaming software and services, is pleased to announce that its wholly-owned subsidiary company Ganapati (Malta) Limited ("Ganapati (Malta)") has signed an endorsement agreement ("Endorsement Agreement") with Welljen Limited, which holds the worldwide rights to license Usain Bolt's services and image rights ("Usain Bolt").
The Endorsement Agreement with Usain Bolt continues the Company's strategy of collaborating with major players in the sports industry and they have joined forces to create the very first official Usain Bolt online slot game (the "Slot Game"), which will be launched this summer.
The Company's development team will work closely with Usain Bolt in order to create a Slot Game which accurately reflects his love of sport-themed games whilst incorporating entertainment-focused elements.
In preparation for the Slot Game's launch, Usain Bolt will join Ganapati at the iGaming industry's biggest event of the year, ICE London, held at ExCel London in February. The Slot Game's launch later this year is expected to coincide with the opening of the Tokyo Olympics.
The Endorsement Agreement sets out a series of fees for the rights to use the Usain Bolt brand for Ganapati's Slot Game which includes initial payments for the image rights to develop the Slot Game and a share of future revenues. The Endorsement Agreement is for an initial period of two years and is renewable, subject to certain conditions for a further three years to 31 January 2025.
Juliet Adelstein, Company Director and CEO of Ganapati Malta said: "This collaboration with Usain Bolt, as well as the Company's production of the official Manny Pacquiao slot game last year, underlines Ganapati's goal of being recognised as a developer of slot games with globally recognised players in the sports industry by effectively implementing strategic sport sponsorship and brand opportunities within its games."
Neither this announcement nor the information contained herein constitutes an offer or solicitation by Ganapati Plc for the purchase or sale of any securities, nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful.
The Directors of Ganapati Plc accept responsibility for this announcement
CORPORATE ADVISER AND CONTACT DETAILS:
Ganapati Plc
Tony Drury
Chairman
Telephone: 07973 737284
NEX EXCHANGECORPORATE ADVISER:
Alexander David Securities Limited
David Scott - Corporate Finance
James Dewhurst - Corporate Broking
Telephone: +44 (0) 20 7448 9820
http://www.ad-securities.com
