Added Dec. 16, 1999
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Hasbro recently announced plans for its online games portal Games.com and named Go2Net as its technology partner.
The companies have reached an agreement in principle for a three-year licensing and distribution arrangement that paves the way for the development of an online gaming area that will feature Hasbro game brands like Monopoly, Clue, Risk, Battleship and others from Milton Bradley, Parker Brothers, Wizards of the Coast, Microprose, Atari and Hasbro Interactive.
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"Games.com will be the ultimate online gaming experience," predicted Alan G. Hassenfeld, chairman and CEO of Hasbro. "In addition, our relationship with Go2Net will ensure that Games.com delivers all of the benefits of sophisticated technology in an easy-to-use, friendly interface."
Hasbro and Go2Net expect to sign a definitive agreement during the first quarter of 2000, giving Hasbro access to leading edge technology. Go2Net will provide technology and engineering support to build out the site, plus software for community monitoring and management, chat features, and message boards. In addition, Hasbro would gain access to all the public domain games currently offered on, or being developed for, Go2Net's PlaySite, including chess, backgammon, solitaire, and spades.
Games.com will include three primary revenue sources, generating income via advertising, a Games.com store, and premium subscription services on the site. Hasbro and Go2Net will each share in the revenue generated from the sale of advertising and sponsorship. Go2Net will also receive fees for Games.com e-commerce transactions originating from Go2Net.
Go2Net will receive from Hasbro a $7.5 million fee for the license and access to Hasbro's most popular games for a licensed, co-branded Games.com offering on PlaySite. Separately, Hasbro and Go2Net will enter into a three-year development and service agreement to collaborate in the development and operation of Games.com. During 2000, Hasbro expects to spend approximately $60 million to develop and launch Games.com.
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