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Synergy Plus Getting into online casinos
Wednesday November 4,2015 : I.T. RESELLER EYES ONLINE CASINO MARKET
Australian online social casino owner VGW Holdings the target.
The colourful and at times troubled history of Australian IT re-seller Synergy Plus is about to change again as the company eyes the online casino sector for its future development, according to a report in the publication CRN this week.
Just two years after fighting its way out of administration the company has announced that it has agreed to acquire Australian online casino operator VGW Holdings Ltd, which owns the sweepstakes “social online casino” Chumba Casino.
Synergy Plus ran into financial difficulties and reportedly owed millions of dollars to creditors in 2011 which necessitated the appointment of administrators. The company later entered into a deed of company arrangement, announcing in 2013 its exit from administration and a new strategy to buy gold and base metal assets and become a shell company, a plan that was later abandoned.
VGW Holdings is a four-year-old start-up trading as Virtual Gaming Worlds and claims a player base of 80,000 generating revenue of around A$13 million annually.
The company is active on Facebook, with games involving “virtual” currency and cash prize gameplay, and has ambitions of expansion into the online lottery, poker and sports verticals in international markets.
The Synergy deal includes a proposal to undergo a capital consolidation as a part of the acquisition and a capital raising of A$5 million, which will be deployed to fund VGW growth in the United States market. VGW founder Laurence Escalante will remain with the company and join the Synergy board.
Americas Card Room Online Super Series Starts Now -
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New Quick Seat feature at Ignition Poker -
New Quick Seat feature at Ignition Poker.In order to ensure our poker players’ user experience is even more seamless, we’ve introduced a new feature in our poker software called Quick Seat for both Ignition Poker.
Finnish people prefer the government to run the casinos -
Nordic countries have been, historically, the main markets for the online casino operators. The reasons for this are rather clear - these countries are very cold and people simply prefer to stay home and gamble than go outside to visit a casino.
NBA Odds: Chalk-Heavy Warriors Host Portland for Game 2 -
The Golden State Warriors needed a strong fourth quarter to put away the Portland Trail Blazers on Sunday. But they still didn’t cover as 15-point home favourites in a 121-109 victory. Can they do better this Wednesday (10:30 PM ET, TNT) in Game 2 of their first-round playoff series?
Caesar’s Triumph Slot Launches -
Caesar’s Triumph is new slot at Bovada that features the Roman dictator in all his glory. The action takes place on five reels where you’ll find 20 paylines and plenty of ways to spin your way to victory.
NHL Odds: Pacific Division Foes Face Off in Edmonton -
The Edmonton Oilers will attempt to defend their home ice advantage this Friday (10:30 PM ET on Sportsnet) against the San Jose Sharks. The Oilers (47-26-9) finished second in the Pacific, while the Sharks (46-29-7) finished third, but only four points behind their First Round foes.
Bingo Cataratas Offers Unique Spin on Classic bingo -
Bingo Cataratas (Spanish for waterfalls) is changing the way people think about bingo according to Bovada. Just because bingo is a classic with a huge following, doesn’t mean it can’t be spiced up with a fresh new format. Bingo Cataratas has the basic structure of bingo, but also has an “extra ball” feature and a bonus mini game.
NBA Odds: Hawks-Pacers in Regular-Season Finale -
Depending on the results of Game No. 81, Wednesday’s regular-season finale (8 PM ET, ESPN) between the Atlanta Hawks and Indiana Pacers could decide whether Indiana reaches the postseason. It could also give the Pacers a higher seed than Atlanta in the Eastern Conference playoffs.
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