GameLogic Picks Up $3 million in Debt Financing

18 December 2008

On Wednesday GameLogic said it has received $3 million of debt financing from Velocity Financial Group Inc., a finance company serving middle-market and venture-backed companies.

John E. Taylor Jr., president and chief executive officer of the game developer for play-for-fun online games to draw traffic to casino operators’ Web sites, said he was pleased to raise such funds during the economic downturn.

“Our ability to proactively raise debt on favorable terms in these turbulent economic times is a testament to our solid business model and the tremendous opportunity to leverage the popularity of Internet games in the regulated US gambling markets,” Mr. Taylor said.