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Global Pari-Mutuel Services said that it is continuing to explore capital raising alternatives to enable it to continue the development of the product and the operation of its business.
Commenting on the assignment, Ted Nelson, Mechanica's chief executive officer, said, "The Global Pari-Mutuel Services team has a really bold vision.
The company is focused on deploying technology and providing services designed to facilitate pari-mutuel wagering over the Internet and through international call-centers and physical off-track-betting (OTBs) facilities.
I think Youbet has proven in record-breaking year after record-breaking year that we know how to find and keep new fans, that we add substantially to pari-mutuel pools, and that we have technical and marketing expertise that the industry can and should embrace to help bring racing back to prominence in this country," he said.
Under the terms of the agreement, Global Pari-Mutuel will provide hub and simulcast services, as well as track content to IDEA for pari-mutuel wagering on horse and greyhound racing events in the U.
2006 Trainer of the Year Joins Lukas in Pari-Mutuel Wagering Company's Online 'Stable'
Gary Newman, Chairman and CEO of Global, states that, "while displaying our proprietary Lottery Systems at the recent WLA Convention held in Singapore, a number of new Lottery and Pari-mutuel opportunities were discussed with various Lottery License Holders and Government officials.
Global Pari-Mutuel is entering an exciting time during which we are focused on a worldwide rollout of our proprietary online platform," said Jim Egide, Chief Executive Officer of Global Pari-Mutuel Services, Inc.