Bwin Announces $50M Social Gaming Venture


06/06/2012
By Maria McCoyGoogle

Bwin.party, one of the biggest online casino games companies in the world has announced that they will be venturing into social gaming in the near future. As a brand, Bwin.party already runs top rated online casino games and no deposit casino sites for poker, sports betting, casino and bingo.

The online casino games company intends to invest $50 million to create a new social games studio called ‘Win’.

Bwin has already begun the stages of the plan, which includes establishing ‘Win’ with a top notch team, development and launch of numerous social gaming apps, and the purchase of various assets from Velasco Services Inc. and Orneon Limited to increase the chances of success.

The company is confident that their experience in the industry and their collection of proprietary games content will push them toward achieving a number one slot in the next few years.

Jim Ryan and Norbert Teufelberger, the Co-CEOs of bwin.party stated, “We have chosen a ‘build and partner’ strategy, one that provides us with both the resources and additional management expertise to execute our planned extension into social gaming – an exciting and fast growing area of digital entertainment that is the latest addition to our business strategy. We are focused on building a meaningful stand-alone enterprise that will operate outside our core real money gaming business but which will benefit from the Group’s significant resources and assets.”

The two went on to say, “Our investment will enable us to launch Win, our dedicated social gaming studio with its own development centre that will increase our speed to market both for social as well as mobile games. Intent on securing a meaningful position in the marketplace, we expect a €5-€10m impact to Clean EBITDA in 2012 and 2013. However, we are excited by the potential of this new market and believe we can deliver attractive returns in the medium term through relatively modest investment, funded from operating cashflow over the next 18 months.”


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