Zone4Play and Golden Palace in RNG deal

Technology and interactive software company Zone4Play, Inc. this week entered into an investment agreement through subsidiary RNG Gaming Limited with the well-known Golden Palace online casino group.

RNG Gaming is one of two subsidiaries of Gaming Ventures plc, a company registered on the Isle of Man by Zone4Play. When the company was formed recently, Zone4Play hinted that its intention was to spin Gaming Ventures off to its shareholders once certain regulatory approvals were obtained. The stated goal of RNG Gaming Ltd. was to further develop and license advanced Black Jack gaming technology to third parties based on a license fee and revenue share basis.

Golden Palace and Zone4Play expect that Blackjack's rising popularity will continue to grow worldwide. As Multiplayer Poker has become one of the fastest growing segments of the online gaming market, the new partners believe that the Multiplayer blackjack tournaments have the chance to become similarly popular.

Under the current agreement, Golden Palace will invest $600 000 in exchange for 20 percent equity in RNG Gaming Ltd., with an option to acquire an additional 30 percent stake in the company at a valuation of $18 million. Through the added value brought by Golden Palace's experience and longstanding market position, the white label model that RNG Gaming represents can be established.

"The Tournament Blackjack software is an exciting new addition to the Golden Palace group of games," said Golden Palace.com CEO Richard Rowe. "We expect Tournament Blackjack to skyrocket in popularity, and Golden Palace will be at the forefront of this new trend. RNG Gaming's superior software coupled with Golden Palace's ten-year tradition of online gaming excellence is a winning combination."

"While making headway with the spin-off of our exciting new multiplayer Black Jack gaming technology, we are thrilled to have industry leader Golden Palace as a partner", commented Shimon Citron, CEO and Founder of Zone4Play. "This agreement is not only a notable vote of confidence in the software; it serves as yet another testament to the success of our market strategy and innovative technology - and proves that we are playing to win."