NetPlay acquisition offers glimpse at mobile gambling finances
January 5 2009 - 1:30 pm ET | Colin Gibbs | RCR Wireless News
NetPlay TV Plc forked over $1.47 million in stock to acquire two mobile gambling sites from Zed Worldwide S.A.
A U.K.-based firm, NetPlay offers interactive wagering games such as roulette and bingo through fixed-line phones and set-top boxes. The company acquired Venturygames.co.uk and Toucanwin.com from Zed subsidiary Info-download Ltd., and inked an exclusive two-year pact to sell the offerings to Zed’s 130 carrier customers in 54 countries.
The sites generate roughly $730,000 in monthly gross revenue, NetPlay said.
“We are extremely pleased to be working closer with the team at Zed Worldwide,” said NetPlay CEO Martin Higginson, who headed the U.K.-based ringtone corporation MonsterMob Group Plc before Zed acquired it in 2007. “The mobile platform is an important part of our converged plan, and as such adding their mobile gambling business to ours strengthens this position further. Having access to the Zed mobile developers will enable us to develop integrated mobile applications much quicker and therefore give the consumer greater choice of which device he or she access our gaming services from.”
