Video games publisher Majesco Entertainment Company has finalised a takeover of online game developer Orid and software company Pariplay through GMS Entertainment Limited, a new venture that will focus on online casino games.
As part of the deals, Majesco will invest a total of $3.5 million (€2.6 million) to $4.5 million, depending on GMS’s future financial performance, to acquire a 50% interest in GMS.
The founder of Orid and Pariplay will hold a 50% stake in GMS.
“I am pleased that Pariplay has received the requisite regulatory approvals to allow us to complete our investment in this newly formed venture,” Majesco Entertainment chief executive officer Jesse Sutton said.
“The iGaming, iLottery and social gaming segments of the online gaming market are growing rapidly, and looking ahead, additional jurisdictions are expected to legalise real money online gaming and lottery, which will fuel further market expansion and opportunity for GMS Entertainment.”
Orid designs and develops fixed odd and random-based online and mobile games for use in real money online games, social casinos and lottery systems. Pariplay is a licensed online gambling operator headquartered in the Isle of Man, operating online gaming sites on an owned and white label basis.