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888.com acquires social games developer

6/14/10 - The importance of social networking and gaming was again underlined this week when online gambling operator and software provider 888.com announced the acquisition of the assets comprising the Mytopia social games development studio from Real Dice Inc.
 
The consideration payable for the assets consists of a base price and additional earn-out adjustments.
 
The base price of $18 million will be paid as follows: $12 million cash payment upon completion and an additional $6 million payable in cash upon meeting certain milestones connected to the mobile and social networking games prior to 31 December 2011.
 
An additional earn out payment in cash will be made calculated on the basis of net profit for the calendar year 2011. The total maximum consideration payable by 888 to the vendor is capped at $48 million.
 
The assets acquired comprise:
 
* A games development studio, specialising in developing cross-platform social games for
smartphones, mobile handsets and social networking platforms including Facebook
 
* Numerous games, including “Bingo Island 2” (one of the top Bingo applications on
Facebook) and a social poker application using the “Pacific Poker” brand
 
* A real-time multiplayer mobile poker application available for iPhone, Android,
BlackBerry, Windows Mobile and J2ME handsets which has been installed by more than
1,000,000 users globally
 
* A technology platform for hosting and operating real-time social games on social
networks and mobile
 
* A software licence for Particle Code, a cross-platform application development
framework for mobile devices and tablets
 
A spokesman for 888.com said the assets will form the cornerstone of 888’s social gaming and mobile strategy, offering a player experience across different platforms. Social network and smartphone gaming applications will also be offered to Dragonfish B2B partners, allowing them to take advantage of this fast-growing area.
 
During the year ended 31 December 2009 the assets subject of the acquisition generated an unaudited pro-forma loss of $100 000 before tax. The target assets have no significant book value.
 
Gigi Levy, CEO of 888 Holdings, said: “This is a very exciting deal for 888, and builds on our aim of providing a variety of entertainment destinations where people can enjoy a truly interactive experience on a multitude of platforms.
 
"Mytopia is one of the leading publishers of cross-platform social-games and this acquisition gives us an immediate footprint in the fast-growing social gaming arena, complementing our core offering and giving us access to millions of customers.
 
"Improvements in mobile technology now mean more people are comfortable using applications on the move, and we expect significant growth in this area. The acquisition extends 888’s reach and market share in the fast growing social networks and smart mobile devices, such as iPhone and Android powered handsets, and leaves us well positioned to take advantage of this growth.”
 
Guy Ben-Artzi, CEO of Real Dice, said: “888 understands where the market is going. Mytopia will thrive with 888’s infrastructure and expertise behind it and bring to 888 new revenue streams from virtual goods and microtransactions on social networks and mobile devices.
 
“We both believe that an advanced social gaming creative and operational capability, along with technology to move faster in critical smartphone and emerging platforms like iPad, is the best way to connect with the next-generation of players.”
 
Real Dice was founded to develop multiplayer games for social networks and next-generation mobile devices like PalmOS, Windows Mobile, BlackBerry and Symbian platforms. Its focus is on creating rich, immersive games that enable users to play together across multiple platforms in real-time.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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