Game Play Network closes funding round, partners with SuperDraft
GPN plans to install kiosks at racetracks, sporting venues, other sites across the US.
Game Play Network, Inc., on Tuesday said it closed a new round of funding with strategic investments by HG Vora and other investors in the gaming and entertainment industry.
The Los Angeles-based online gaming company also unveiled a strategic partnership with SuperDraft, a daily fantasy platform partnered with Caesars Entertainment Inc.
The two parties said in a statement their partnership will give SuperDraft the opportunity to “materially advance its online gaming vision to provide a well-rounded portfolio of DFS, sports betting and igaming products in 22 states currently (more than any other sports betting site in the country).”
SuperDraft plans to expand into more states in the near future.
GPN said the additional capital it raised will enable the company to accelerate the expansion of its B2B business through strategic partnerships across a number of platform distribution models and business verticals.
With the addition of real money casino games, the most popular and profitable form of gambling, GPN said its online gaming strategic partners can leverage their marketing engines and large customer bases to expand quickly across the country, lower their customer acquisition costs and increase the profitability of their players.
In addition to the digital application of its gaming platform, GPN plans to expand via gaming floors and lounges across the country. It said specially designed machines, free-standing kiosks and tabletop display cases will be placed at racetracks, sporting venues, casinos, restaurants, bars, hotels and other locations.
Parag Vora, HG Vora’s founder and portfolio manager, said, “HG Vora Capital is excited to make our initial investment in Game Play Network. Based on our experience investing across the gaming ecosystem, we see great potential for GPN to create mutually beneficial partnerships in the space.”
David Marshall, Game Play Network’s CEO and co-founder, added, “We are grateful to HG Vora, our other investors and our strategic partners who have supported our vision to allow the majority of the country to enjoy a legal way to play casino and social games for real money.”
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