|By PR Newswire||
|October 8, 2012 07:41 PM EDT||
TORONTO, Oct. 8, 2012 /PRNewswire/ -- Mobile Integrated Systems, Inc. ("MIBI") announced the execution of an implementation and cloud-based operations contract (the "Agreement") with lottery operator Movil Game Solutions C.A. ("the Operator") for SMS-based mobile phone lottery infrastructure. The MIBI solution is based on the MobiLotto family of cloud-based products developed by MIBI.
"We are delighted to have been chosen by Movil Game Solutions C.A. to launch this exciting SMS-based lottery in Venezuela, a country of over 29 million people," said Murray Simser, President and CEO of Mobile Integrated Systems. He added, "This agreement is the first MIBI contract in the region and represents the beginning of our focus in Latin America where gaming is growing at an incredible pace. In a country where lottery is primarily paper ticket-based, we are delivering the next generation of gaming technology."
Under the terms of the agreement MIBI will build and operate the solution for a percentage of the gross sales of the lottery operator. The launch date for this Lottery is expected to be early December 2012.
About MobiLotto Family of Products
The cloud-based MobiLotto software enables secure lottery play on mobile devices by providing a comprehensive solution custom-tailored to each operator's regulatory environment, security needs, and player features. The MobiLotto solution combines secure electronic transactions, familiar game play, location and jurisdictional verification, player registration, and player analytics into a comprehensive mobile solution. It also introduces a secure direct distribution channel between the authorized lottery license holder and the consumer, reducing the reliance on traditional distribution methods and one-way communication channels. Transactions are debited directly from either lottery operator stored value accounts, or other methods. Winning ticket holders are notified directly on their mobile devices. The system also enables players to review past transactions and winnings, and edit application preferences. The MobiLotto solution can be made available for most Smartphones and mobile handsets, including Android, Blackberry, iPhone, Full Featured Phones and Other SMS-Enabled Devices.
About Mobile Integrated Systems, Inc.
MIBI, a Nevada corporation, is a technology company focused on developing and deploying mobile products and transaction systems to a variety of industry sectors including lotteries, gaming, transportation, telecommunications, finance, and others. The company trades on the OTCUS under the symbol MIBI. More information can be found at: http://mobileintegratedsystems.com/
Please contact Mobile Integrated Systems marketing team at 416-479-0880.
This press release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such forward-looking statements are inherently uncertain. Our actual results may vary materially from those expressed in any forward-looking statements as a result of various factors and uncertainties. MIBI cannot provide assurances that any matters described in the press release will be successfully completed or that MIBI will realize the anticipated benefits of any agreements, specifically including whether the Agreement will close as described herein, otherwise or at all and whether any revenue will be generated under the terms of the Agreement.
Various risk factors that may affect MIBI business, results of operations and financial condition are detailed from time to time in the Annual Report on Form 10-K and in the Current Reports on Form 8-K and other filings made by Mobile Integrated Systems, Inc. with the U.S. Securities & Exchange Commission. MIBI undertakes no obligation to update information contained in this release.
SOURCE Mobile Integrated Systems, Inc.