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IS PLAYSTUDIO MGM'S SOCIAL GAMING VEHICLE?

Friday May 18, 2012 :  IS PLAYSTUDIO MGM'S SOCIAL GAMING VEHICLE?
 
Former Wynn Resorts exec now chief executive of an exciting Silicon Valley start-up
 
MGM Resorts International chief Jim Murren has been punting his company's plans to enter the social gambling arena for the past few weeks at various speaking engagements, and this week the Wall Street Journal published an interview that may provide clues to what sort of vehicle MGM may be using.
 
The interview was with former top Wynn Resorts exec Andrew Pascal, who moved on to become the CEO of an MGM-backed Silicon Valley social gaming start-up branded Playstudios, whose objectives include running virtual casinos.
 
"Backed by Wynn rival MGM Resorts International, the start-up, Playstudios, is part of a wave of companies trying to find a sweet spot where gambling and social gaming converge," the Wall Street Journal reports.
 
The article goes on to reveal that Playstudios began testing its first game, branded myVegas, this week in the Philippines and plans to roll out in the U.S. this summer.
 
Apparently the company will introduce a series of games to Facebook that have a gamble-like element but stay within the law by not using real money, although users can boost the usual daily free chip allocation by buying more chips, allowing them longer playing time.
 
That sort of transaction - common in the social gaming environment - can translate to good business on a low value-high volume basis. The WSJ points out that Playtika and Double Down Interactive, owned respectively by land gambling giants IGT and Caesars, both have online casinos on Facebook, with each attracting more than a million users a day to their games, according to tracking firm Appdata.
 
Although no financial details have been disclosed by the companies involved, analysts have opined that each could be generating around $100 million a year.
 
A WSJ source revealed that other investors besides MGM are involved in the $12.5 million Playstudios venture, including major videogame maker Activision Blizzard Inc., although Pascal would not confirm this. MGM will have access to Playstudios' customer-information database.
 
The new venture will offer a range of prizes that include stays at MGM properties and show tickets at casinos, and there will be a loyalty program for users.
 
"Playing the games will also allow the users to build MGM casinos on a virtual Las Vegas Strip that includes only MGM properties including Circus Circus and Bellagio," the Journal reports.

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Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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