February 10 (SeeNews) - Online betting and gambling operator Telematic Interactive Bulgaria [BSE:TIB] said on Friday that its subsidiary CT Interactive has extended its licence contract with Casino Technology Georgia until February 10, 2031.
The contract, signed in February 2021, grants the Georgian company exclusive rights to the use of Telematic Interactive's gambling games, the Bulgarian company said in a bourse filing.
The contract has a term of one year which can be automatically renewed if none of the parties decides otherwise. The monthly licence payments will amount to 80% of generated income.
Telematic Interactive's consolidated revenue jumped by an annual 37.5% to 74.52 million levs ($40.8 million/38.1 million euro) in the first nine months of 2022, on the back of significant income growth from online casino games and sports betting.
The Bulgarian company recently increased the capital of its new Peruvian unit, and has stated plans for expansion in Italy, Mexico, Columbia and Kenya. CT Interactive provides game content to international contracting parties.
(1 euro = 1.9558 levs)