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Is Rising Tide Games Buying Win?
Friday January 2,2015 : RISING TIDE THE SUITOR FOR BWIN'S SOCIAL GAMING SUBSIDIARY (Update)
Former Zynga and 888 exec involved in negotiations.
Earlier this week Bwin.Party Digital Entertainment revealed that it is in talks with unspecified suitors regarding the possible sale of its social gaming subsidiary Win, and it appears from a Wall Street Journal report that the company concerned is Maytal Olsha's new company, Rising Tide Games.
Olsha is a dynamic industry exec who has held senior social gaming positions with 888 Holdings and more recently Zynga.
Quoting two informed sources, the WSJ says that New York-based Rising Tide envisions acquiring loss-making Win in exchange for a stake in Rising Tide, which Olsha founded after departing Zynga. The company has yet to launch a product.
Bwin.Party established Win.com in 2012 as part of a move into social casino games. The company said at the time it was investing up to $50 million in the effort over the course of two years, and it opened offices in Tel-Aviv, Israel, and Gibraltar, employing developers in Ukraine.
Win.com developed slot-machine apps, including Slot Craze, for Facebook and for mobile platforms.
However, the company appears to have fallen on hard times, laying off some of its team of about 40 in Tel Aviv, according to one source. And in a filing this week, Bwin said it expects a pre-tax loss of Euro 7 million from social gaming in 2014 (see previous InfoPowa report).
The sources emphasise that the negotiations between Bwin and Rising Tide are not yet final, and it is not yet clear how big a slice of Rising Tide Bwin will get in return for Win.
Oink Country Love Slot Launches -
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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 -
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Sensational Sixes Slot Goes Live -
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3 New Betsoft Slots -
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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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