InFocus Group secures US$2.4M gaming agreement
- InFocus Group signed a binding agreement for its Codexa ROW platform with its first customer.
- The agreement guarantees a minimum fee of US$2.4 million over the first 24 months of operation.
- The company aims to expand its white-label online casino and prediction markets software across global markets.
InFocus Group (ASX:IFG) signed a binding conditional agreement for its Codexa ROW platform to secure a minimum of US$2.4 million in revenue over two years.
The agreement marks the first white-label client secured for the Codexa platform within 12 months of launching the IFG iGaming strategic business unit.
"This is the point where Codexa moves from product to contracted revenue," said InFocus Group Holdings CEO and Executive Director Ken Tovich.
Under the deal terms, the company will build a custom prediction markets module over roughly nine months while retaining all underlying intellectual property rights.
Following the development phase, the unnamed private investor will launch a licensed real-money gaming business and pay InFocus up to 5% of gross gaming revenue.
Following the announcement, the InFocus Group Holdings share price was up at $0.009.
The Codexa ROW software operates as a complementary product to the company's sweepstakes platform targeting the United States market.
It allows international gaming operators to accept both fiat currency and cryptocurrency across permitted legal jurisdictions.
