PLAYSINO SECURES NEW FUNDING

04/26/2012 : PLAYSINO SECURES NEW FUNDING
 
Social gaming enterprise plans on being a big player in social and mobile environments
 
The Santa Monica-based social casino games company Playsino,formerly Titan Gaming, has closed on $1.5 million of new funding in a bid to develop as a major casino game publisher on social and mobile platforms.
 
Several investors were involved in the funding round which included IDM Venture Capital, Pacific Capital Group and Siemer Ventures amongst others. The funds will be used to accelerate new Playsino product offerings.
 
Newly appointed chief executive officer of Playsino, entrepreneur Brock Pierce comments: "Social casino gaming combines the virality and addictiveness of a game like Farmville with the monetization capabilities of mid- to hard-core gaming.”
 
"Playsino's global potential is a key focus for our firm. Virtual currency can play anywhere, and Playsino's unmatched familiarity with it – best positions them to become the world's largest social casino game company," said Denis Gamobramov, Managing Partner of IDM Venture Capital.
 
"We believe the next evolution of social gaming will involve merging it with what has been the longtime appeal of wagering," added David Siemer, Managing Director of Siemer Ventures. "Playsino's gaming platform is well-positioned to capitalize on this next phase."