Sunday August 19, 2012 : GLOBAL GAMING BUYS FANTASY SPORTS COMPANY
AmpedFantasy will enable company to capitalise on booming fantasy sports industry
Global Gaming Network, Inc., a Los Angeles-based developer and aggregator of digital entertainment and sports information for online and mobile platforms, has announced the acquisition for an undisclosed consideration of fantasy sports operator AmpedFantasy.
AmpedFantasy is an online sports business which allows users to legally wager on players that participate in domestic and international sporting events.
GBGM plans to completely overhaul the web site design and operations and re-launch the business for the NFL football season in early September.
"We're pleased to have acquired one of the leading operations in the fantasy sports field," said Stephen Kern, president of GBGM.
"AmpedFantasy is a daily fantasy sports operation, which is the popular current trend of fantasy sites, and is designed for easy use to appeal to both the passionate and casual fantasy player. Currently, no sports fantasy site offers its users the ability to wager on popular European and South American sports like soccer, the world's most popular game.
“With our acquisition of AmpedFantasy, complemented by our SportsAlert online sports information service, GBGM intends to aggressively expand into these markets,"
According to the Fantasy Sports Trade Association (FSTA), the fantasy sports market in North America is currently a $4 billion industry and is growing rapidly, with the potential worldwide market estimated between $12 – $15 billion.
AmpedFantasy founder Bryan Ciambella said: "Envative, an international web and mobile development company, will carry out the development and administration of the AmpedFantasy web site. GBGM has assured us of their financial commitment, expertise and resources to make AmpedFantasy one of the leading fantasy sports operations worldwide."