Gametech Technologies enters into an agreement with Playboy Enterprises International

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Gametech Technologies entered into a non-exclusive license agreement with Playboy Enterprises International (“Playboy”) .

As per the agreement ,Gametech will able to utilise the Playboy’s trademarks-including the rabbit head logo trademark and other intellectual property of Playboy on and in connection with the design, creation, promotion, marketing, advertisement, sales, operation, maintenance and distribution in India of real-money game mobile apps, such as rummy, poker, fantasy sports and other games of skill approved by Playboy.

“We will pay Playboy as a royalty a percentage of net gaming revenue. The term of the agreement is through the end of 2025, subject to early termination upon certain events of default, which include our failure to launch a Playboy-branded game in India by 1November , 2021, or to meet certain annual minimum net gaming revenue targets, ” reads official post.

Gametech is expecting  to begin generating revenues under this license agreement in the third quarter of 2021, although there can be no assurance this will be the case.