Last checked at 24 Apr 2014 07:00
24 April 2014
Blue Star Capital plc
("Blue Star" or the "Company")
Oak Media signs licence agreement with RHF Productions Ltd.
Blue Star is pleased to announce that Oak Media ("Oak"), which is 75% owned by Blue Star, has signed a licence agreement with RHF Productions Ltd ("RHF"), for the marketing and promotion of Oak's white label casino products across RHFs UK TV channel inventory.
The service will be launched in the second quarter 2014 across RHF's ten subscription TV channels on the Sky, Virgin & Freeview platforms in the UK. It will also enable Oak to actively market casino services to an existing 250,000 subscriber database
Further to the announcement by Blue Star on 24 December 2013 and following the signing of this agreement, Blue Star's shareholding in Oak has been reduced to 65%. Oak's management can increase their shareholding to a maximum of 50% conditional upon Oak becoming profitable.
Graham Parr, Chairman of Blue Star, commented:
"Blue Star is delighted that Oak has concluded an agreement with one of the UKs largest operator of UK TV channels. This contract represents a major step forward in its strategy to capitalise on this fast growing market."
Chris Ratcliff, Managing Director of RHF added: "We've been looking to develop strategic alliances within the gaming sector and Oak's white label solution offers us a perfect shortcut to market in terms of promoting an own-branded casino service to our userbase."
Ends
Contacts:
Blue Star Capital plc
Graham Parr, Chairman +44 778 891 6111
Tony Fabrizi, Chief Executive +44 777 178 2434
Daniel Stewart & Company plc
Nominated Adviser & Broker
David Hart/Ciaran Walsh/Martin Lampshire +44 20 7776 6550
Square1 Consulting
David Bick/Mark Longson +44 207 929 5599
About Oak
Oak has been formed to take advantage of the international growth in gaming for entertainment amid a fast changing regulatory environment. Oak intends to become an aggregator of the most compelling gaming technology to provide the best available gaming solutions, so it can enter the lucrative gaming market with modest investment and make rapid returns.
Oak believes that leading brands and broadcast TV will play an increasingly larger role in gaming growth and player recruitment. Oak aims to position itself as the supplier of choice to mainstream brands and mobile and broadcast TV operations, especially those with international reach, to create a total broadcast gaming solution with selected partners.