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Parlay Entertainment Inc.: Olifeja to Launch on Parlay5

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  Published in Business and Finance on Thursday, June 11th 2009 at 7:32 GMT, Last Modified on 2009-06-11 07:33:32 by Market Wire
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LONDON, UNITED KINGDOM--(Marketwire - June 11, 2009) - Parlay Entertainment Inc. (TSX VENTURE:PEI), and Olifeja, the Lithuanian National Lottery, are pleased to announce the recent signing of a software license agreement. Olifeja is expected to launch on the Parlay5.1 platform in the latter part of the summer.

"We are pleased to be working with one of the true innovators of the online gaming industry," said Mindaugas Marcinkevicius, head of the online initiative for Olifeja. "Olifeja has a land-based retail network of lottery terminals, a weekly TV show and a number of unique local Lithuanian games. Only an open platform like Parlay5 gives us the level of flexibility and expandability to let us tie them together as part of a comprehensive gaming strategy."

"Parlay is very proud and excited to be chosen as the technology provider by Olifeja," said Peter Trinz, Senior Vice President of Parlay. "Our open platform, internationalisation capabilities and new pan-European services are perfectly suited to the needs of the national lottery of Lithuania."

About Parlay Entertainment

Parlay Entertainment Inc. is the world's leading developer and licensor of Internet and TV bingo solutions. As the inventor and holder of Internet bingo(1) patents, Parlay was the first company in the world to develop and deploy a commercial Internet bingo product. Parlay Bingo is available in 75-, 80- and 90-ball versions and is complemented by a full suite of lottery and casino games. Our multi-player, multi-platform technology is used to power more online bingo sites than any other software provider in the world. Some of the world's best known brands use Parlay solutions, including Virgin Media, Yahoo!, Littlewoods, NetPlay TV and the St. Minver and TGN bingo networks. Parlay's head offices are in Oakville, Canada with offices in Alderney, Bridgetown, Barbados, and Valletta, Malta.

This document may contain statements about expected future events and/or financial and operating results of Parlay Entertainment Inc. that are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward-looking statements.

(1) United States Patent No. 6,585,590, Canadian Patents No. 2,340,152 and 2,618,843, with other Patent applications pending in other countries