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DIGITAL GAMING VENTURE FORMED BY CASHCADE FOUNDERS

Thursday September 15,2011 : Supported by Bwin.Party Digital Entertainment
 
A new digital gaming venture capital fund formed by Cashcade co-founders Simon Collins and Patrick Southon will be supported by Bwin.Party Digital Entertainment PLC.
 
The fund titled "NewGame Capital" has been set up with an initial GBP 15 million investment from Bwin.Party with the intention of investing in high potential start-ups in the monetised digital gaming arena that include casual, social, online and mobile services.
 
Focusing on early-stage investments, the fund will reportedly invest in as many as fifteen companies.  The fund comprises bwin's GBP 15 million pound investment and another GBP 1 million from the investment team.  Additional backers are hoped to bring to GBP 50 million for the fund in total.  Advisers to the fund include Collins, Southon and merchant bank NewShore Partners.
 
Southon and Collins leaving day-to-day operations at Bwin.Party and embarking on the new e-gaming venture in February 2011 (see previous InfoPowa report) has borne fruit with the kick off of a first round investment in social bingo provider Avatingo described as a "multi-platform virtual world with a personalised social bingo experience."
 
"We see huge innovation taking place across the social, casual, mobile and real-money gaming area," said Martin Weigold, chief financial officer, bwin. "NewGame Capital has a rare combination of entrepreneurial, strategic and financial expertise. We believe that this will allow it not only to identify companies with innovative business models, but also to guide them towards long-term success."
 
Patrick Southon, Adviser, NewGame added:  "With the growth of micro-payments and other forms of paid-participation, the lines between online gaming and online gambling have started to blur.  "We anticipate continued strong market growth in monetised digital gaming and are seeing a very vibrant start-up scene related to the sector both in Europe and North America."
 



Gambling News :

Box 24 Launches 3 New Slots - This week sees the addition of 3 New Games at Box24 Casino. Check them out they all seem pretty interesting.

Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

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