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Gaming Realms sells off website
Wednesday February 17,2016 : GAMING REALMS DIVESTS LEGACY THIRD PARTY DRIVEN WEBSITES
To focus on Grizzly-proprietary platform and opportunities in the UK and the US.
Mobile real-money and social games provider Gaming Realms has conditionally sold-off its third party driven platform website properties, for a total consideration of GBP 2.9 million allowing it to focus on its proprietary Grizzly-driven platform.
The agreements detail the sale of the Iceland Bingo IP to Black Spark and the disposal of white label assets Lucky Charm Bingo, Cupcake Bingo and Diva Bingo to Silverspin.
Black Spark will pay the Company, upon completion, an up-front cash payment of GBP 1.2 million and an additional GBP 500,000 payable under a transitional services agreement over the next 5 months.
The remaining GBP 1.2 million of the total consideration, payable by Silverspin, will be netted off against the final earn out payments to the selling shareholders of Blueburra Holdings Limited (Blueburra).
Gaming Realms will retain its Bingoport affiliate marketing business from the Blueburra acquisition.
The proceeds from the sale will be invested in the development of new gaming content and marketing campaigns, the company said.
"Focusing on higher margin investment in our new mobile platform and achieving significant success within our own mobile content development is delivering stronger returns for Gaming Realms,” commented Patrick Southon, chief executive officer of Gaming Realms. “Having end-to-end control of our offering has created a set of exciting opportunities in the UK, and more recently in the US, and these have become our strategic priority."
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
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