19 Nov 2014 07:00
GameAccount Network extends deal with Pennsylvania’s leading casino
Parx Casino and GameAccount finalise deal for Simulated Gaming™, on-property gaming & regulated Internet gaming in Pennsylvania
ISE: GAME LSE: GAME
London & Dublin | 19 November, 2014: GameAccount Network plc (“GameAccount Network” or the “Company”), a leading developer and supplier of enterprise-level B2B gaming software and online gaming content, announces the signing of a definitive agreement with Parx Casino to launch a Simulated Gaming™ online experience for new customers and existing patrons in advance of potential regulation of Internet gaming in Pennsylvania, details of which were disclosed in July this year.
Parx Casino is owned by Greenwood Gaming & Entertainment, Inc and comprises a major thoroughbred racetrack & casino property in Bensalem, Pennsylvania. It is expected that GameAccount Network and Parx Casino will launch a Simulated Gaming™ website in December 2014.
Deal Highlights
Parx Casino is the leading casino property in Pennsylvania operating over 3,200 machine slots and 150 table games, generating $478m in gaming revenues in FY 2013/2014 ,which represents an estimated 30% market share in the Eastern Pennsylvania market The system will allow for all forms of Internet gaming with selected third party remote gaming servers to be integrated into the GameSTACK™ Internet Gaming System and managed via GameAccount Network’s iSight Back Office™ Simulated Gaming™ is the innovative Internet gaming service designed by GameAccount Network PLC specifically for land-based casinos in advance of prospective regulation. Simulated Gaming offers a gaming-as-entertainment website enabled with unique and patented monetization features and a compelling Internet gaming content portfolio of over 100 casino slot, table and skill-based games including poker, backgammon, gin rummy, poker dice and blackjack tournaments Launched in the US by GameAccount Network in January 2014, Simulated Gaming™ has been proven to monetize Internet traffic to existing websites operated by land-based US casinos with average revenue per daily active user (ARPDAU) of $2.75, as against an original estimate of $0.60, greatly exceeding equivalent numbers reported by Social Casino operators on Facebook Simulated Gaming™ enables land-based US casinos access to the Social Casino market worth an estimated $1bn per annum in the United States in 2013. It is proven to increase property visitation among existing patrons, reactivate lapsed patrons bringing them back on-property and drive acquisition of new patrons from outside the typical drive distance to the property Multi-million dollar committed investment by Parx commencing in 2015 for Internet marketing to acquire Simulated Gaming™ players, principally targeting Social Casinos on Facebook, currently serving residents of the State of Pennsylvania. Social Casino operators serving Pennsylvanian residents generate an estimated $44m1 in sales of virtual currency annually December 2014 launch of a Simulated Gaming™ proposition onto a new Internet gaming portal www.ParxOnline.com, linked to www.ParxCasino.com and integrated with Parx’ customer management system, will enable Parx’ patrons to use their rewards card to engage online playing recognisable US Class III casino slots translated online by GameAccount Network for diverse casino equipment manufacturers The GameSTACK™ Internet Gaming System has been deployed on-property at Parx Casino in Pennsylvania ensuring all Internet gaming activity and customer data remains on-property, with an immediate upgrade path in the event regulation of real money Internet gaming emerges in Pennsylvania. This will enable real money on-property mobile gaming to be delivered to Parx patrons’ mobile devices while on-property. On-property mobile real money gaming will be launched by the parties in H1 2015, subject to suitable regulatory approvals GameSTACK™, deployed in Atlantic City and powering a New Jersey regulated Internet gaming business, offers Parx a proven upgrade path from Simulated Gaming™ to regulated real money Internet gaming should suitable regulation emerge. Pennsylvania is widely expected to pass legislation to regulate intra-State Internet gaming in 2015 following the recommendations of the Econsult Solutions, Inc report in May 2014, commissioned in January 2014 by the Legislative Budget and Finance Committee, being a committee of the Pennsylvania General Assembly2Dermot Smurfit, CEO of GameAccount Network commented:
“In 2014, consistent with the objectives set out at the time of our 2013 public offering, we proved our capability to deliver both Simulated Gaming™ and regulated real money Internet gaming in the United States. In 2015 we anticipate scaling Parx’s Simulated Gaming™ business through significant online marketing activities designed to acquire players online and drive them on-property to Parx Casino in Bensalem, Pennsylvania. We are excited by the opportunity presented by Simulated Gaming™, the underlying strength of our regulation-ready Internet Gaming System, the promotional capabilities of our back office and relevant appeal of our widening gaming portfolio. We are delighted to have been chosen as their exclusive iGaming platform provider by one of the leading management teams in the United States’ casino Industry.”
John Dixon, CTO of Greenwood Entertainment & Racing, Inc commented:
“GameAccount has demonstrated its Regulated Gaming capability in New Jersey and the merits of Simulated Gaming™ when integrated with a casino management system. By deploying their system on-property Parx Casino will have the opportunity to launch Simulated Gaming™ nationwide this Holiday season, subject to regulatory approval of the PGCB, on-property real money mobile gaming in 2015 and be well prepared in the event regulation of real money Internet gaming emerges in the State of Pennsylvania.”
www.GameAccountNetwork.com
www.parxcasino.com
For further information please contact:
| GameAccount Network | FTI Consulting | ||
| Dermot Smurfit | Mark Kenny/Jonathan Neilan | ||
| Chief Executive Officer | |||
| +44 (0) 20 7292 6262 | +353 1 6633686 | ||
| dsmurfit@GameAccountNetwork.com | gameaccount@fticonsulting.com | ||
| Davy | |||
| John Frain / Roland French | |||
| +353 1 679 6363 |
GameAccount Network | Overview
GameAccount Network is a leading developer and supplier of enterprise-level Business to Business gaming software systems and online gaming content. GameAccount Network is listed on the ESM Market of the Irish Stock Exchange and the AIM Market of the London Stock Exchange under the ticker: GAME
The Company has developed an Internet gaming enterprise software system, GameSTACK™, which it licences to online and land-based gaming operators as a turn-key technology solution for both regulated real-money and simulated online gaming. The Internet Gaming System, developed in London under a UK Gaming Commission licence, is certified to the highest technical standards currently required by gaming regulators.
GameAccount Network is also a leading developer of proprietary online games with a complementary business converting offline casino slot machines into online equivalents on behalf of major land-based slot machine manufacturers including Aristocrat, Konami, Multimedia Games, Incredible Technologies, GamoMat, Reel Time Gaming, High Flyer Games and Ainsworth.
GameAccount Network has an established business in Europe, licensing gaming content to UK, Spanish and Italian gaming operators including Bet365, Rank, Lottomatica, Sisal MatchPoint and SNAI.
In the United States, GameAccount Network has partnered with Betfair Plc to provide its Internet Gaming System following the introduction of regulated real-money online gaming in New Jersey in November 2013. In Connecticut, GameAccount Network has licensed its Internet Gaming System to the Mashantucket Pequot Tribal Nation (owners and operators of the Foxwoods® Casino Resort) and currently offers Simulated Gaming™ via the Online Casino published on Foxwoods.com website. In Oklahoma, GameAccount Network has been chosen to launch a promotional play Simulated Gaming™ website via OsageCasinos.com. In New York, GameAccount Network has launched a Simulated Gaming™ website via www.EmpireCityCasino.com. In Pennsylvania, GameAccount has been chosen by Parx Casino to launch Simulated Gaming™ and on-property mobile gaming in 2015. In September 2014 an undisclosed multi-State US casino operator chose GameAccount Network’s Simulated Gaming™ launching early in 2015.
In Australia, GameAccount Network has partnered with a consortium of land-based gaming venue operators to bring Simulated Gaming™ online in early 2015.
1 The Social Casino market generates an estimated $1.1bn annually from 316m Americans, Pennsylvania’s 12.7m residents are estimated to account for $44m in purchases of virtual currency used for Social Casino gaming on Facebook.com
2 http://lbfc.legis.state.pa.us/reports/2014/90.PDF
Copyright Business Wire 2014