Business & Finance

HLNT Networks Set to Acquire Oddzon Gaming Pty Ltd

Edited by Joshua Smith - July 18th, 2001

HLNT Networks today announced that it has signed a letter of intent for the acquisition of privately-owned Australian company Oddzon Gaming Pty. Ltd., which owns a master use license to a proprietary online gaming platform.

HLNT Networks will have exclusive rights with respect to the master use license pending completion of specific terms and conditions to be set out in a formal agreement.

"Our arrangement with Oddzon gives us an immediate foothold as a service provider to the gaming industry," stated Grant Johnson, President and CEO of HLNT Networks. "Felino Molina, the President of Oddzon has been an innovator of gaming platforms for casinos since 1996, and brings management expertise in gaming operations to HLNT."

The online gaming market is projected to grow from $535 million to more than $3 billion by 2002 (source: Bear Stearns Co.).