Digiwave sells gaming software

MANILA, Philippines - Digiwave Solutions Inc., a software developer that will soon be a subsidiary of listed Premiere Entertainment Philippines Inc., has sold products to a Korean-based software firm. In a statement, Digiwave said it sold six online gaming software to Goodandgood Management Inc. for P141 million. Digiwave said the deal was made after five months of negotiations. Goodandgood purchased Digiwave software for seven-card Stud Poker, Texas Hold 'Em Poker, Baccarat, Super 6, Baduki and Majhong "because of their potential business capability." Goodandgood will offer the games through kiosks. The sales agreement states that the Korean firm will buy a minimum of 300 licenses and a maximum of 600 Digiwave software packages. Justin Rojas, Digiwave president, said the software holds a Random Number Generator and Associated Components Certification from the Gaming Associates Pty Ltd., an Australian-based gaming consultants. "This ensures that the RNG-generated results are uniformly distributed and statistically independent, and that the game symbols are fair and unpredictable," Digiwave said. Besides having "high quality graphics, user-friendly interfaces and a help function that players can easily use for assistance, the software also allows for multiple gamers to simultaneously play the same." Nine players can simultaneously play Texas Hold 'Em in one game, five players each for Baduki and 7-Card Stud Poker, 100 each for Baccarat, Super 6 and four for Mahjong. Digiwave, which is currently in the process of merging with Premiere Entertainment, is also operating its own e-Games Stations of Philippine Amusement and Gaming Corp. The merger between Premiere Entertainment and Digiwave, through a share swap transaction, will result in Digiwave Shareholders acquiring nearly 70 percent of Premiere Entertainment and in turn Digiwave becoming a wholly-owned subsidiary of Premiere Entertainment Premiere Entertainment earlier said it is planning to list on the Korean stock exchange this year following a proposal from Shinyoung Securities Co. Ltd., to be its lead manager for the listing. In April last year, Premiere Entertainment announced that it would be shifting from filmmaking to software development and online gaming. - GMANews.TV