Terms of purchase not disclosed in acquisition of GameLogic Inc
Scientific Games Corp., an American listed company with which Playtech embarked on an online joint venture in January this year has announced another internet gambling industry deal.
The New York-based company has acquired the assets of the Boston online casino game and marketing software developer GameLogic Inc. Terms of the deal were not disclosed.
The Boston Globe reports that GameLogic was founded in 2002 and raised over $26 million from venture firms including Bain Capital Ventures of Boston, General Catalyst Partners of Cambridge and Maveron LLC of Seattle.
The company produces loyalty and marketing programs and online games, including a suite of games called PlayAway, which enables land casino operations to skirt US laws prohibiting online gambling by letting players buy and redeem online chips in a casino, but play games remotely, online.
Scientific Games, which provides tickets, software and services to lotteries, including the Massachusetts state lottery, said that it had also hired several GameLogic employees from the company’s development and marketing divisions.
The Boston Business Journal reported earlier this week that the bulk of Massachusetts’ $2 billion video-game industry appears cool to the prospect of online gambling, but industry watchers said players like Scientific Games and other lottery and casino-related technology companies are likely to benefit if Congressman Barney Frank’s proposal to legalise online gambling is successful.