Two Way and LG Australia in betting apps deal

Louise Duffy ©RapidTVNews | 25-01-2012

Australian interactive TV company Two Way has signed a three-year deal with LG Electronics Australia, which it says will see it distributing its betting apps on the latter's connected-TV sets, Blu-ray players and home theatre systems.
Two Way has already finalised exclusive deals with Sportingbet Australia and Betfair, to build and operate TV betting services.
The apps are due to be launched in the first quarter 2012. They will be deployed by Two Way on LGE devices in Australia and will be capable of taking bets, via the TV remote control, on all sports events broadcast by free-to-air TV, pay-TV, or any form of IPTV.
The three-year deal provides for a revenue-sharing arrangement between Two Way and LGE for all revenue generated via Two Way's betting applications.
Meanwhile, Two Way's managing director, Ben Reichel, will step down on 31 January. He will remain on the board as a non-executive director, and will be replaced by Chris Grant Foster who will not, however, hold the title of managing director.