Following substantial media reports, online gaming software provider Playtech has confirmed that it has signed a deal with Hong Kong company Foundation Group Ltd to supply gaming software to China.
The deal is the second Playtech has entered into to provide the Chinese market with gaming solutions in the past three months. However, the contract with Foundation Group is its first nationwide agreement with an Asian firm.

Playtech's Chief Executive Avigur Zmora announced the deal, saying: "Although Foundation Ltd is in the very early stages of its development, its potential is very exciting for Playtech and we look forward to working closely with Foundation to develop this potential.”
Foundation Ltd is publicly listed in Hong Kong and owns a subsidiary which has signed lucrative licensing agreements with the Communist Youth League (CYL). CYL is heavily involved with China’s ‘Green Internet Policy” which will provide licensed cash prize P2P tournament games at internet cafés throughout China.
While further details of the contract are not forthcoming, it is anticipated that Playtech will disclose more in the coming months. Currently Foundation Ltd is undertaking a fund raising exercize and refusing to discuss any of its plans further with media.

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