GameCo, Inc., creator of the world’s first skill-based video game gambling machines (VGM), recently announced that it has raised both Seed and Series A financing totaling $8.25 million with the latest round led by Javelin Venture Partners (with participation by Courtside Ventures, QB1 Ventures, New York Angels, Steel Partners, and numerous strategically helpful individual investors).
So how will the infusion of cash be put to good use?
This capital allows GameCo to launch its first games into multiple casinos in 2016 and support the development and rollout of an ongoing pipeline of new games in 2017 and beyond, the company says.
GameCo’s vision is to create a VIP destination for the next generation of casino customers–”the video game casino”, combining the entertainment, engagement, and excitement of video games, esports, and gambling. The company is poised to deliver the world’s first introduction to skill-based video game gambling when VGMs hit casino floors in Atlantic City this fall.
“GenX and Millennials don’t play slots, but they do play video games,” said Jed Katz, Managing Director of Javelin Venture Partners. “And while casinos have been attracting those customers with hot nightclubs, bars, and restaurants, it’s only logical that they offer a gambling product that’s attractive and fun for this customer base. We love GameCo’s methodical approval to filling that void and we expect that they will establish a long term leadership position in a space that’s about to get really big,” Katz added.
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