GameCo to expand arcade-style gambling, esports after latest investments
Gaming equipment developer GameCo announced it has received a new round of investments, which will fuel expansion of iGaming, esports, and arcade-style gambling.
GameCo said it received a new investment from gaming technology provider PlayTech and gaming investor SpringOwl Asset Management, led by Jason Ader.
Ader said, “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.”
The investment announcement comes a week after Adam Rosenberg took the reins as CEO following the departure of company founder Blake Graboyes. Graboyes left the company after he was denied license by the Nevada Gaming Commission for his alleged misdoings at Ohio-based Beyond Gaming from 2012 to 2014.
The latest round of fundraising will accelerate GameCo’s efforts to develop an array of gaming products targeted at new demographics and players.
GameCo and Playtech also entered into a long-term distribution agreement that will see Playtech commercialize GameCo’s iGaming products abroad. GameCo will receive access to Playtech’s network of online casino brands and will have direct access to build iGaming products on Playtech’s Gaming Platform as a Service system.
Rosenberg said, “GameCo was founded with the intention of attracting and monetizing younger gamers and gamblers who, unlike older generations, want interactive and varied digital gambling experiences both at casinos and from the comfort of their homes. COVID-related shutdowns and the need for large portions of the global population to be remote accelerated these trends.”
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