FINANCING 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.
SPREADING JOY On Thursday WorldSpreads Group announced it has signed an agreement to provide its financial spread betting services to Gibraltar-based Victor Chandler International Ltd.
The company said the new partnership with give Victor Chandler users access to more than 4,000 000 financial market instruments such as stock indices, currencies, commodities and individual shares, under a white label to be at www.VictorChandlerFinancials.com. According to the Web site, it will be launched in January 2009.
“Our agreement with WorldSpreads enables us to offer what we believe will be a very popular additional product for our customers to enable them to access the exciting world of the financial markets,” said Michael Carlton, chief executive of Victor Chandler, in a prepared statement. “Further, we believe that the very high levels of media attention currently afforded to the volatility in the prices of financial products support the timing of our entry into this market.”
SIGNING On Thursday, Intralot S.A. announced that it has been awarded the contract to modernize and technologically upgrade the central system of Hamburg’s State Lottery, Lotto Hamburg G.m.b.H.
The agreement, which has a minimum term of five years, includes the customization, supply and installation Intralot’s integrated gaming management system, along with the software for the operation of its 470 terminals. The Athens-listed lottery technology company will also provide the lottery with related maintenance services.
“The central system is the heart of a lottery,” said Siegfried Spies, chief executive of Lotto Hamburg, in a prepared statement. “With Intralot, we are technologically innovative and flexible and at the same time absolutely confident of the operation of our lottery.”
DICEY CONDITIONS Gala Coral Group's Eurobet has added the DiceArena network to its portfolio, the company said on Thursday.
Launched Dec. 9, the multiplayer dice games network features two new dice games: “Dice Hold’em,” inspired by the popular poker game, and “Shoot the Moons,” which is described by the company as an alternative for more casual players. In early 2009, two perennial dice games will be added, which include “Liar’s Dice” and “Backgammon.”
“We are excited to launch such a unique product and pleased to be at the forefront of this great innovation in the e-gaming world,” said Matt Steer, operations manager for Eurobet, in a prepared statement. “Billions of people have played dice, and these games are so easy to learn and great fun to play.”
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