Monday July 8,2013 : MOBILE GAMBLING GAMES PROVIDER TO LIST ON THE A.I.M. IN LONDON
Twentyfourseven Gaming Group makes mobile versions of Black Jack and Roulette
Twentyfourseven Gaming Group, which makes mobile versions of Black Jack and Roulette, will today announce its intention to float on the Alternative Investment Market in London, valuing the enterprise at around GBP 60 million to GBP 70 million.
The Netherlands-based company said it plans to enter the market without raising any capital, although it may decide to do so later this year.
Formed in 2010, Twentyfourseven Gaming Group runs two businesses – WannaGaming, the mobile gaming operator it acquired in 2011, and Playlogic, its smaller console video game business.
The group is hoping to tap the booming mobile gaming market, which according to analysts Juniper Research is estimated to generate $100 billion (GBP 67 billion) of annual sales by 2017.
Roger Smit, founder and chief executive of the company told CityAM: “The move to list our company on AIM is an important and logical step as we increase our marketing investment in existing markets and expand into new territories.”
Twentyfourseven, which declined to disclose its most recent set of financial results, operates in markets such as the UK, Italy and Spain where mobile gaming is legal.
However, its main focus is now on developing a strategy for exploiting the US market, “…if and when online gambling becomes legal there”.
Twentyfourseven Gaming Group recently welcomed David Mathewson, the former chief executive of rival software gaming firm Playtech to its board of directors.