Global Daily Fantasy Sports Inc., (TSXV: DFS) (FSE: 7CR), bought Playgon Interactive Inc., a B.C., Canada-based live dealer casino gaming company.
As agreed, Global will acquire the outstanding shares of Playgon, for $9.5m, which are payable by the issuance of 63,333,333 common shares in capital at a price of $0.15 per share.
Led by Guido Ganschow, CEO, Playgon provides physical casinos and a suite of interactive live dealer games that offer human interaction between dealers and players via mobile device or desktop. Players can communicate with the dealer in real time via a dedicate interface.
To conduct its activity, Playgon operates a 12,000 sq. ft broadcasting studio which streams live from Las Vegas. Its Live games cover casino favorites, such as Roulette, Blackjack, Baccarat and Casino Hold’em with new in game features to boost online revenues, such as bonus features, side bets, tournament functionality and other promotional tools.
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Led by Darcy Krogh, CEO, Global Daily Fantasy Sports is providing a multi-tenant gateway that allows operators in the industry to offer a Daily Fantasy Sports software solution to their customers. The platform allows for integration at the operator level without having to share or compromise any sensitive customer data. As a B2B global network, the company offers a SaaS product for sportsbook operators, land-based operators, media groups, and big database companies to participate in the daily fantasy sports industry.
Commenting on the deal, Krogh said: “This acquisition of Playgon brings to Global a cutting-edge technology that I am very excited about and adds another unique product to our portfolio of B2B content. Playgon’s proprietary technology is flexible and applicable to both real money and social gaming markets.”
According to H2 Gambling Capital, the market for online gaming for the past five years (from 2014 to 2018) has reached a compounded annual growth rate of approx. 12% and current estimates has gross gaming revenue at €45 billion. Online casino continues to be one of the fastest growing verticals within the online gaming market, with an annual growth rate during the same period of 13% and is estimated it accounts for annual gross gaming revenue of €12 billion. Live Casino represents the fastest growing vertical within online casino with an annual growth rate of 33% during this same five-year period and currently represents roughly 34% of the online casino business or roughly €4 billion in revenue. The current trend over the next five years in Live Casino is estimated to generate €6 – €7 billion in gross gaming revenues.