Parlay Entertainment Inc. and Entraction Holding A.B., the software developer and online gambling operator, have agreed to launch a European-facing online bingo network.

Combining the Internet and TV bingo software provider's front-end bingo and gaming products with Entraction's back-end administration system, the groups will launch a Malta-based bingo network to be managed by Entraction, Parlay said on Thursday.

"We plan to offer the bingo platform to both existing and new partners, allowing us to make a serious commitment to growing this area of our business," said Peter Åström, Entraction's chief executive, in a company statement.

According to Scott White, Parlay's chief executive, the network will launch by the end of this month.

Last month Parlay reported a 53 percent drop in royalty revenue in 2008 when compared to the same period in 2007.

Yesterday, Virtue Fusion Alderney announced that Paddy Power, the Irish gambling company, has decided to move from Parlay's to Virtue Fusion's bingo network.

Virtue Fusion is also gaining the business of Virgin Games.

According to eGaming Review, the online gaming division of the Virgin Group Ltd. is switching bingo providers from St. Minver to Virtue Fusion.

Source: Gaming Industry Media

Visit Hyperion for the best jobs in iGaming