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Chumba World internet casino raises 2.5 Million Capital
Monday March 18,2013 : AUSSIE ONLINE GAMBLING START-UP RAISES CAPITAL (Update)
VGW raises $2.5 million for Chumba World internet casino
Australian gaming start-up Virtual Gaming Worlds has secured $2.5 million in investment funding from Triple C Consulting, a boutique investment firm in its hometown of Perth.
The money will be used to further develop and launch Chumba World, the company's massively multiplayer online casino game for Facebook, which allows users to become ‘the house’ and build their own casinos, slot machines and games tables using avatars as their characters. Other players can join in and play at the casinos, allowing owners to make virtual money which can be converted to real cash, with parent VGW taking a percentage.
The successful fund-raising comes only a month after VGW was kicked off the crowdsourcing website Kickstarter, where it had been trying to raise $50,000. No explanation for the company's expulsion was given, either at the time or since
A VGW spokesman said that the $2.5 million will help the company to secure an online gambling licence, as well as fund marketing the app on Facebook and the development of a dedicated mobile version. The company also says it will develop new features that enable players to monetise their casinos.
There are currently 10 games in Chumba Casino with “many more in development”.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
Money Storm Casino -
Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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