USA Video game company to online gambling
The famous USA video game developer Majesco Entertainment, is entering the US online gambling emerging market being noticeable in online gambling events, media and some recent acquisitions.
The video game company already acquired Orid Media, a social casino games developer and Pariplay, a online casino operator licensed in Isle of Man. This 2 steps will direct Majesco Entertainment to the social gaming market.
Majesco Entertainment is famous for products like Zumba Fitness and other console games sold to Nintendo Wii and Xbox 360. In the second quarter of 2012, the company revenue was $27 million and 87% of this amount was regarding video games sold to Nintendo and Xbox.
In 2013, the sales declined to only $7 million in the same period.
"We’re going to register for a license and if someone was licensed in New Jersey and operated a casino, we could provide content services to them.
The big players in the casino business and lottery business, you could try to muscle it out with them and take their position. The other way to go about it is that now they’re facing this transition for internet gaming, they need partners with expertise. That’s where we see possibilities.", said Michael Vesey - CFO Majesco.
"I am incredibly excited about this opportunity in the fast growing online gaming market. During this transition year in console gaming, we have been actively exploring emerging growth opportunities in the social media and online casino gaming industry to supplement our existing business.", said CEO - Jesse Sutton
Majesco Entertainment already tried to enter social game market in past, with a studio opened in Massachusetts in 2012, with a development team to work on games for Facebook. The operation shut-down on January 2013.
At this time, Majesco has Orid and Pariplay to push their plans to enter the sector and also the investment of $4.5 million in both acquired companies.
"In terms of video games, what they’re investing for this new venture would cover only a percentage of what they would pay to develop another console game," he said the consultant Scott Steinberg.
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