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Playstudios Raises 20 Million in Third Round Funding
Wednesday October 29,2014 : PLAYSTUDIOS THIRD ROUND FUNDING A SUCCESS
$20 million to be aggressively invested in product
California-based social gaming company Playstudios has closed a third round of funding led by Jafco Ventures.
The "self-sustaining" company raised $20 million that will allow it to "aggressively invest in our current apps or, opportunistically, find and create other apps to invest in," said chief executive Andrew Pascal in an interview with GamesBeat.
This latest funding round includes existing investors such as MGM resorts, who provide a sizeable package of rewards to PlayStudios' MyVegas players.
“I think our best work is ahead of us and our biggest opportunities are ahead of us,” Pascal said. “Having this additional capital will ensure we make the most of these opportunities.”
“The Playstudios' team, led by Andrew Pascal, is one of the best operating teams we have seen," said Joe Horowitz, Managing Partner at Jafco Ventures. “We believe that the quality of their products and the loyalty of their players will allow Playstudios to continue to achieve explosive growth and dominate this category of the social gaming market.”
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Gambling News :
Wanajump Launches -
#Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.
Coral Launches player proposition betting product -
Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.
Oshi online casino now accepts fiat currencies -
The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.
New Standards for UK Online Gambling -
Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.
Pennsylvania Gambling Bill 1887 returned with additions -
The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.
Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
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