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Acquisitions of social gaming companies have showed poor results, Gambling Compliance

The social gaming sector is estimated to grow from around $8bn in global revenues this year to around $15bn in 2015, according to Think Equity.

 

Caesars Entertainment acquired Playtika (Slotomania) for $170m in December 2011. Official company description: “A lot of effort, not a lot of results.”

 

888 Holdings acquired social poker and bingo games developer Mytopia for $18m in June 2010. Official company description: “Reduced expectations of income growth."

 

International Game Technology’sacquired DoubleDown Interactive for $250m in January 2012. Official company description:"Will need to grow its user base to generate profitability." (showing loss with 1,4 M daily and 5 M monthly users) The growth of users has been “dramatically below what we believe is necessary to achieve our estimate.”

 

Bwin.Party Digital Entertainment unveiled its Win.com social gaming division and announced the acquisition of  Velasco Services Inc. and Orneon Limited for $23m in may 2012.

 

MGM Resorts International is set to imminently launch its MyVegas social gaming site.

 

Wynn Resorts is according to rumours i talks with the largest social gaming developer Zynga.

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Facebook Not Planning to Offer Gambling, David Altaner at Gambling Compliance

Facebook has no plans to offer gambling or even for-cash social gaming, according to a key European executive who works with games and gambling companies.

 

"I don’t think so, there’s too much money in free to play games," Julien Codorniou, Facebook’s head of European partnerships.

 

International Game Technologies’ Double Down Interactive, which claims to have the world’s largest virtual casino, or even 888 Holdings’ Mytopia games.

 

"The margin in online gambling is so low," he said. "On virtual chips, it’s 100 percent — 70 percent after Facebook takes its portion."

 

Codorniou works with clients such as London-based King.com and Berlin-based Wooga, the second- and third-largest social gaming companies behind $5bn Zynga.

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bwin.party acquires Orneon for 15 MUSD, James Bennett and Robin Harrison EGR Magazine

bwin.party acquires Orneon for 15 MUSD, James Bennett and Robin Harrison EGR Magazine | Poker & eGaming News | Scoop.it

bwin.party is to acquire social games developer Orneon in a deal thought to be worth around US$15m, eGaming Review can exclusively reveal.

 

Ukraine-based studio Orneon acts as an outsource developer for other social operators without owning the IP to any of the games. It was reportedly involved in the development of 888’s recently resurrected social gaming subsidiary Mytopia’s core Bingo Island brand, and is understood to have worked on mobile versions of Playtika’s Solotomania product.

 

Barak Rabinowitz, former CEO of Mytopia, is expected to be confirmed as heading up the division during the same presentation. Prior to joining Mytopia, Rabinowitz had founded online trivia and bingo operator, Amuso, which went into voluntary administration in September 2010.

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