Picklive in lotto deal and JV for Indian market
News on 20 Jan 2014
News on 20 Jan 2014
Fantasy sports and social gaming provider Picklive Limited has entered into an investment deal and joint venture with India-based lottery distributor and operator, the Sugal & Damani Group (SND).
Under the terms of the agreement the joint venture hopes to create a multi-product skill gaming platform for the Indian market with the initial launch of a daily fantasy cricket game based on Picklive’s current UK-based soccer product.
SND has invested in Picklive, through its subsidiary Skill Infra Solutions BV (SIS). Nitesh Damani, director of SND, will take a seat on Picklive’s Board.
“We have been following Picklive’s development for some time and were impressed with their product and vision of changing the landscape of sports gaming. They now have a live UK product, a joint venture in the US with Sportech and an Indian joint venture coming soon. With strong local partners and a rapidly changing global gaming market we believe Picklive has a unique opportunity to build a global product and brand,” said Damani.
David Galan, chief executive officer of Picklive added: “We are delighted to be partnering with Sugal and Damani as our joint venture partner in the Indian market and also welcome them as an investor in Picklive.
“Sugal & Damani is an extremely well respected major operator in the Indian government licensed lottery market and has very strong technical and operational skills.
“Combined with its knowledge, relationships and distribution abilities, we believe we have a very strong partner and are excited about the prospects of developing a gaming business in the untapped Indian market.”
