Gaming Internet to Operate Online Casino Under Paris Ritz Brand

1/8/2001 (By Toby Anderson, Bloomberg) London, Jan. 8 (Bloomberg) — Gaming Internet Plc, owner of the SportsMad.com Web site, said it agreed with Harrods Online Ltd. to operate an online casino under the Paris Ritz brand, increasing its product range and geographical presence.

Gaming Internet subsidiary Fortuna Universal Juegos Globales SA will pay Harrods Online 900,000 pounds ($1.4 million) in shares to operate the site for three years and use the brand, the company said in a statement on the U.K.’s Regulatory News Service. It will pay a further 300,000 pounds in shares on the fourth and fifth anniversaries of the completion of the agreement.

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