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LONDON (Alliance News) - Blue Star Capital PLC Monday said Oak Media Ltd has signed an exclusive agreement with Playboy TV Europe for the marketing and promotion of Oak Media's Gibraltar-registered Red 8 casino on Playboy TV's channel inventory.
Blue Star Capital, which owns 65% of Oak Media, said the agreement is structured as a partnership, with both parties sharing in the casino's profits. It also gives Oak Media marketing access to Playboy TV's existing customer database of over 100,000 users who currently interact with the channels.
Red 8 casino will offer its players a full casino experience on a variety of platforms, including internet, mobile and tablet.
The service is expected to be launched by the end of next month and will run initially on Playboy TV's four free-to-air channels on the Sky and Freeview platforms.
"Since our investment in Oak Media in December 2013, the company has signed three significant contracts, this latest being with one of the world's most recognised names in entertainment. This contract represents a major step forward in bringing Oak Media's strategy to fruition in this fast growing market and we remain confident about the company's prospects," Chairman Graham Parr said in a statement.
Oak Media's management can increase their shareholding to a maximum of 50% conditional on Oak Media becoming profitable.
Blue Star Capital shares were Monday quoted at 0.640 pence, up 16%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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