bwin.party Launches Social Gaming StrategyCompany Will Invest $50 Million On New Social Games Including Poker |
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bwin.party, the online gaming operator which owns PartyPoker today announced details of its new social gaming strategy which will include the release of social sports betting, casino, poker and bingo applications.
The company said it would adopt a “build and partner” strategy for its new business which will be called Win and said it would invest around $50m (€40m) “from existing resources over the next two years to become a major force in the rapidly growing social gaming market.”
Jim Ryan and Norbert Teufelberger, the co-chief executive officers of bwin.party, said, “We have chosen a ‘build and partner’ strategy, one that provides us with both the resources and additional management expertise to execute our planned extension into social gaming – an exciting and fast growing area of digital entertainment that is the latest addition to our business strategy.
“Our investment will enable us to launch Win, our dedicated social gaming studio with its own development centre that will increase our speed to market both for social as well as mobile games.
“…We are excited by the potential of this new market and believe we can deliver attractive returns in the medium term through relatively modest investment, funded from operating cashflow over the next 18 months.”
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