GameCo has announced a new round of financing and strategic investment, led by Playtech and SpringOwl Asset Management, headed by Jason Ader, alongside participation from many of the group’s previous investors.
The capital infusion is designed to accelerate the company’s ambition of providing revolutionary gaming products and experiences, while driving new players and demographics to casino entertainment.
Robert Montgomery, chairman of the board of directors at GameCo, stated: “We continue to see a real opportunity to combine the excitement of mobile apps and video games with the thrill of gambling to capture these customers.
“The online gambling space represents an enormous opportunity for GameCo to capitalise on mobile-native gen X and millennial players – core constituents within the digital gaming and esports industries.
“We’re thrilled to bring on board new investors like Playtech and SpringOwl, who represent the best-of-the-best in strategic financiers, to help us advance these exciting business initiatives.”
Asserting that it is striving to capitalise on the millennial audience opportunity, throughout 2021 GameCo is aiming to expand rapidly into digital markets, with a focus on bringing arcade-style gambling to online casinos worldwide and positioning itself as a leader in esports betting in the US.
The new funding will be used to develop new game titles and expand the scope of its online, esports betting and retail businesses, with plans including the development of a portfolio featuring dozens of igaming products released yearly, with a focus on attracting and monetising a new and differentiated player
Ader explained: “There are very few market segments which are completely global, totally consumer-facing and instantly scalable. The intersection of skill and gambling online is rapidly emerging as a massive opportunity, and GameCo is uniquely positioned as one of the most innovative players in the industry.
“SpringOwl is always looking to invest in the next generation of trailblazers, and we believe GameCo is exactly that for the regulated gaming industry.
“I have no doubt that this funding will open many doors for GameCo and its exceptional team, who are innovating at a rapid pace to bring a distinct change to the casino experience and attract the next generation of players.
“The scaling opportunities in this relatively untapped sector are extremely exciting, and SpringOwl is delighted to support the company’s mission to be the foremost player in key next-gen gambling categories – including arcade-style gambling and igaming.”
Furthermore, the company has also entered into a long-term global distribution agreement with Playtech, opening up additional igaming opportunities across Europe, Latin America, and North America.
Under the terms of the agreement, GameCo will have direct access to build online gaming products on the Playtech platform, as well as leveraging its technology and distribution network.
Mor Weizer, Playtech CEO, added: “We have followed GameCo’s progress for some time and have been very impressed with its innovative and creative content.
“GameCo’s expansion into digital markets comes during a period of great industry growth and potential. Today, players at US online casinos alone spend over 30 million minutes daily playing games.
“GameCo’s entry into the regulated igaming market is extraordinarily well timed, and we are delighted to be supporting its growth with our investment and our platform.”