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Stride Gaming To Acquire InfiApps

Friday July 31,2015 :  STRIDE GAMING INKS DEAL TO ACQUIRE MOBILE SOCIAL GAMING FIRM
 
Online gambling company is prepared to pay $39.2 million for InfiApps.
 
Internet gambling company Stride Gaming has agreed a $39.2 million deal to acquire mobile social gaming developer InfiApps, the consideration to be paid in a mix of $21.2 million in cash and an earn-out payment of a further $18 million in cash contingent on InfiApps meeting certain performance targets over the next two years.
 
InfiApps attracted attention earlier this year when its flagship casino game, Slot Bonanza passed the 5.2 million downloads benchmark in continued global player interest.
 
The developer reported net profit before tax of $2.3 million in the first five months of 2015 and is on-track to beat a FY 2014 profit of $3.4 million.
 
CEO Ronen Kalmanson said that the combination of the InfiApps social gaming platform and the operational expertise of Stride will create an improved player experience and help grow both companies.
 
Eitan Boyd, chief executive of Stride Gaming, said:
 
“The addition of InfiApps widens our current portfolio of products and brands and will significantly enhance and diversify our player offering internationally, as well as provide access to new users and new geographies generating significant operational leverage.
 
“The acquisition is in line with our strategic objective of expansion through acquisitions, and also affords Stride Gaming a platform in which to take our online bingo product, over time, into the social gaming space."

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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