Titan gaming, makers of a gaming platform, the content sites and game tournaments based social networks to cash and prize is now known that it is embarking on a complete makeover, its rebranding as Playsino, along with a new focus, CEO and contains some new financing.
Under his new moniker, Playsino looks to take advantage of its traction in tournaments and space and emerging on another vertical double down virtual rewards: social casino games. Ambitious, Playsino building "the world's largest social gaming Casino platform" is presented, and is naming a new Chief Executive to help to lead the way. Brock Pierce, who will be CEO of the start, the Managing Director of Clearstone is gaming Global Fund and founded a serial entrepreneur, with eight companies and acquired 30 more in various capacities.
You Pierce an early role in the development of virtual goods, Foundation, Internet gaming entertainment (IGE) in the year 2001 and Zam in 2003. In addition to the new leadership, Playsino is also today announced that it has raised $1.5 million in venture capital as part of a current round. It was from IDM venture capital, a Singapore-based venture capital firm, Pacific Capital Group, Siemer ventures and several angel investors, including Jordan Simons GCP and Wicks Walker W4 ventures led. Existing investor tomorrow ventures participated in the round.
With the new capital in tow, Playsino puts on a mission to build the largest social free-to-play-casino on the Internet. Pierce takes the view that social gaming at a turning point, and that social casino games are the catalyst for this movement. Half of the people on the Web, about 510 million, he says, play or some kind of social game - a gaming audience, which has grown since 2010, at 71 percent. With H2 gaming appreciate that online gambling could be as much as $30 billion globally by 2013, and the U.S. accounting for $4.5 billion, as a whole, online betting represents a great opportunity.
Social casino games have the ability of looking for generating effect of the games combine, the Zynga have made such big player in social gaming, such as Farmville with the monetisation strategies of the more hardcore games Pierce believes is a dangerous combination. The CEO says that he is focused on using the launch of the new capital of internal development, but the company aims, which publish corresponding third-party content and will be careful, independent players also purchase. So probably we will see Playsino develop their own casino games in connection with the construction of a platform that so well can sell their games developers and established players taking a cue from Zynga.com.
While the space opportunity represents the large casinos and gambling companies are moving online in the process and competition is certain to increase. There was also much attention from the Justice Department, and as the space forward, is moving there probably are allowed to play a number of provisions for the protection of consumers, but the players also constrain the amount. According to BusinessWeek, at least five States have already introduced legislation, the people playing Web Poker against other States would allow.
It is a space that is very much in transition States consider online gambling legislation, and their development can be shaped by regulatory restrictions, but there are certainly a lot of money to be made social casino games and Playsino wants to be a part of it. Although it is still too early, the established game companies have a simple way in the social casino games, if they are regulated as the space, see so the start with some addictive, high-quality games to be ready, when it is smothered by the Zyngas and EAs who wants to avoid the world.
