MGT Capital Investments shared details with mGamingWatch this week of its newest acquisition.
The company recently agreed to acquire Avcom, Inc., a New York City based gaming studio focused on building social casino games for mobile devices under the brand Mobile Vegas.
Along with the gaming studio, Avcom brings a proprietary software platform for secure gaming, mobile development, and sophisticated analytics, as well as expertise in the areas of digital marketing and real money gaming. Avcom also brings over 650,000 slot machine players from its existing instant win game offerings.
With regard to the acquisition, the timing couldn’t be better for MGT.
The social casino industry has emerged as a significant business in recent years, with Eilers Research estimating the current annual market size at $2.0 billion as of 2013.
According to Robert Ladd, Chief Executive Officer of MGT, “The acquisition of Avcom, including its leadership team, places MGT in a strong position to capitalize on the popularity of the social casino industry as well as adding tremendous value to our other gaming properties. We couldn’t be happier with the exceptional talent that we have added to our team.”
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