PickLive sign with Indian lottery

Picklive Limited, operators and suppliers of next-generation fantasy sports and social gaming is delighted to announce that it has entered into an investment deal and joint venture with Indian based lottery distributor and operator, the Sugal & Damani Group (“SND”), to launch daily fantasy cricket games for real money prizes in the lucrative Indian market.  .

The joint venture will look to launch a daily fantasy cricket game which encapsulates all the aspects of Picklive’s current UK based soccer product.  Picklive cricket will be real time, social and the ultimate second screen gaming experience.  The intention is to create India’s first multi-product skill gaming platform

SND has also invested in Picklive, recognising Picklive’s innovative fantasy sports technology and products and the opportunity to turn the daily fantasy sports genre into a global business. The investment in Picklive is through its subsidiary Skill Infra Solutions BV and Mr Nitesh Damani, Director of SND, will take a seat on the Board of Picklive on behalf of SND.

Commenting on the deal, Mr Nitesh Damani, Director of SND said:

“We have been following Picklive’s development for some time and were impressed with their product and vision of changing the landscape of sports gaming.  They now have a live UK product, a joint venture in the US with Sportech and an Indian joint venture coming soon.  With strong local partners and a rapidly changing global gaming market we believe Picklive has a unique opportunity to build a global product and brand.”

Commenting on the deal, David Galan, CEO of Picklive said:

“We are delighted to be partnering with Sugal and Damani as our joint venture partner in the Indian market and also welcome them as an investor in Picklive.  Sugal & Damani is an extremely well respected major operator in the Indian government licensed lottery market and has very strong technical and operational skills.  Combined with its knowledge, relationships and distribution abilities, we believe we have a very strong partner and are excited about the prospects of developing a gaming business in the untapped Indian market.”