| Total Gaming Technologies Inc. (TGTI), in which INTRÁLOT is a major shareholder, signed a 10-year contract with the Philippine National Lottery organization PCSO (Philippines Charity Sweepstakes Office). The contract includes the exclusive cooperation for the development of an on-line system for the organization of the popular game FAST KINO (KINO with continuous draws). TGTI will be reimbursed with a percentage of sales on the game?s revenues.
In addition to its participation in TGTI, INTRALOT will also be the on-line system provider. Regarding the game?s needs, a state-of-the-art gaming system will be installed, which will be based on the LOTOS software platform and the CORONIS terminals. The system?s development will cover the whole country and the points of sale will exceed 1,000 in the first phase. Moreover, the sales network will mainly include entertainment places.
The implementation of the project is estimated within 3Q04, at which period the pilot-testing phase of the game will begin. KINO will become the first 'new generation' game to be introduced in the country. It's worth mentioning that the Philippines, a country with a population of 90 million, is a rapidly growing market.
This contract is the beginning of INTRALOT's penetration of the largest market in the world, the South-East Asia. Therefore, after Europe, North and South America, INTRALOT's entry in South-East Asia is highly significant for the company's development and adds more competitive advantages.
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