The company traded on the OTC Bulletin Board in the United States and on the Frankfurt Stock Exchange has entered into a Letter of Intent to acquire 100% of& an online gaming company, whose name will be kept confidential until the deal closes.
Fortuna Gaming through its UK subsidiary has commenced due diligence and will proceed to obtain the necessary regulatory approvals and arrange for the funding of the purchase price within the end of March 2006.
The company object of the acquisition owns exclusive rights to 150 domain names and over 80 interactive casino games written in 15 languages and linked to an integrated e-cash processing capability in 4 currencies.
During the last year, it reported annual revenues of approximately $24 million, from 65,00 active players and a network of 1,500 active affiliates.
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