Gaming Transactions thinks big
March 18, 2005
It certainly looks as if Gaming Transactions Inc., the online gambling venture founded by ex World Gaming execs is gathering momentum following an agreement to purchase a million dollars of advertising at its Keno.com site.
InfoPowa reported the launch of Gaming Transactions mid-February this year. The Delaware registered public company is headquartered in Vancouver, Canada and uses no-download software from RedRuth Ventures, branded CrediPlay which also powers SkillArcade.com. The operation runs on servers based in Costa Rica, although there are ambitions to move to the UK, dependent on the fate of online gambling legalization under the Gambling Bill in that country.
CEO Patrick Smyth, together with fellow Gaming Transactions director and software development specialist Stephen White were both executives at World Gaming (Starnet) at one time. Smyth went on to found the Wiremix Media advertising agency before becoming President of digital marketing company Next Level and then President of CYOP Systems International.
The million dollar advertising agreement is with Red Ruth Ventures which will purchase advertising for the Keno.com site. Red Ruth has prepaid USD$ 1 million in advertising from online gaming portals, which it will be selling exclusively to Gaming Transactions Inc. The deal includes email newsletters, interactive rich media and static advertisement space.
Smyth says, "We are fortunate to have reached a deal of this magnitude for such an excellent marketing product. Red Ruth has a database of players, and web locations that are a natural fit for Keno.com's advertising strategies."
Global revenues from online gambling will reach USD$14.52 billion in 2006, up from USD$3.81 billion this year. This is according to a report from the Informa Media Group, which says that the US will generate 24 percent of all online gambling revenues in 2006, whereas Europe will generate 53 percent.
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