Thursday August 1, 2013 : GAMING REALMS LISTS THIS WEEK
New venture by Foxy Bingo founders has online bingo and social gaming ambitions
The ambitions of the new Gaming Realms company announced earlier this year have advanced with shareholder approval and an expected listing on London's AIM market today.
The brainchild of Foxy Bingo founders Simon Collins and Patrick Southon, along with former Cashcade entrepreneurs Michael Buckley and Noel Rowse, Gaming Realms starts off on the right foot with a GBP3.4 million placing.
The listing will see social gaming business BeJig, which runs the Avatingo app on Facebook, and mobile gambling operator AlchemyBet, absorbed by Gaming Realms.
The London financial media reports that BeJig and AlchemyBet were the main investments of NewGame Capital, the venture capital fund advised by Collins and Southon and backed by Bwin.Party, which bought the duo's previous business Cashcade – operator of the Foxy and Cheeky bingo brands – for GBP 95.9 million in 2009.
Gaming Realms spokesmen have revealed that the newly listed company will soon – probably this month or next – to launch a new online bingo site branded Bingo Godz, which will be powered by software developed by the relatively unknown software Bede Gaming.
There are other familiar online gambling names involved in Bede, too; the firm is managed by former Cashcade exec Michael Brady, and chaired by Crown Bingo veteran Joe Saumarez Smith.