NEW YORK -- TrackPower Inc. (OTCBB: TPWR) signed a three-year contract with Elmira Raceway of Elmira, Ontario, to set up its first ATM.
Elmira's ATM has been installed and is being operated by TrackPower's partner, 4Cash ATM Services Canada Inc., a wholly owned subsidiary of Wireless Ventures Inc. (OTCBB: WLSV) as part of an exclusive global agreement between 4Cash and Trackpower.
Hardave Gill, president of King City, Ontario-based TrackPower, said that Elmira is a popular track. The half-mile harness track, which operates live racing from April through October and offers simulcasting year-round, is expected to move to Elora, Ontario. The new location offers potential to TrackPower to place information kiosks and more ATMs there, he said.
A TrackPower news release didn't specify whether the ATM will incorporate RaceVision, a video replay and archiving service available to customers via a kiosk located within a racetrack or gaming facility. The system can be incorporated into an ATM. TrackPower has an agreement with Post Time Technologies Inc., makers of RaceVision kiosks, to be its exclusive reseller.
RaceVision kiosks and ATM systems combine to deliver information, cash, advertising content, loyalty programs, integrated race information, entries and results, live and archived video, e-commerce and other future applications, the release stated.
TrackPower recently announced the appointment of Glenn Pearson as vice president of sales. According to the announcement, Pearson will be responsible for managing the sales of the kiosk and ATM product, as well as the managing a new product, harness.com, expected to launch later this year.
In TrackPower's latest quarterly report filed with the SEC, the company explained that its business plan is to initially provide archived horse races and cash to racetracks. The kiosks and ATMs will develop other revenue streams in the future, according to the report.
