After a year of rapid growth and business deals, Gamesys Group has further cemented its status as a major gaming operator with the acquisition of Virgin Games. According to eGaming Review, the newly minted contract outlines plans to develop real money and social gaming products under the globally recognized Virgin brand.
Virgin Games, a subsidiary of the Richard Branson-owned Virgin Group, had been seeking external investors to help expand its brand in the global market. Given its budget constraints, Virgin Games needed a partner to enter the developing markets in Europe and the rest of the world and to compete with industry giants. Through consultations with Oakvale Capital, Virgin Games was able to strike a deal with Gamesys.
The partnership plans to use the pooled resources to create a global gaming conglomerate. Gamesys plans to move the Virgin Games site onto its own platform and launch the remodeled website before the end of the first quarter. The real money and social gaming products will be launched and marketed under the globally recognized Virgin label. The two companies hope their combination will create a powerful product in the rapidly growing real money gaming market.
The UK based gaming operator has recently expanded its business in hopes of taking advantage of the real money social gaming market. In August 2012, Gamesys reached a deal with Facebook to launch a real money social gaming product called “Bingo Friendzy” in the UK. Gamesys’ flagship social gaming product, Jackpot Joy Slots, attracts over 1.5 million monthly active users and is among the top 30 highest grossing games on Facebook.
In addition to its current products, Gamesys will acquire Virgin Games products, including over 300 games such as bingo and poker. Further, Virgin Games launched a mobile and tablet offering in December of last year. Both companies agree that the partnership will be lucrative over the long run, though did not disclose when it is expected to become profitable.
Burridge, chief executive of Virgin Games said: “With many new opportunities opening up across the world, it was important to attract a new partner to capitalise the power of the Virgin brand. We are delighted Virgin Games is being acquired by the Gamesys Group, whose track record of growth and innovation speaks for itself.”