Intriguing Online Casino Business Deal
Bits Studio Corp, a UK-based software company, recently claimed that they signed “significant” agreements with two of the biggest names in the online casino industry: The Palace Group and Microgaming. However, none of the aforementioned companies are stating what these “significant” agreements entail. The only clue was given by Bits, who say that they plan on developing online casino related technology. The Palace Group online casinos currently use software developed by Microgaming; it is unclear whether Bits Studio plans on joining forces with Microgaming, or simply developing technology for the online casino software group.
Bits Studio, one of Britain’s top console game developers, have concentrated on game development for such consoles as X-box, PS2, Gameboy Advance and some PC games. The company has yet to develop any online casino games; although Bits would probably have the ability to create fantastic online casino games, with the highest quality graphics. The company was founded in 1990 by Foo Katan and has since sold over 4 million game units across all platforms, and has generated revenues of over $140 million. The only problem Bits seems to be facing currently is the decline in revenue, which is possibly one of the major reasons behind the expansion into the online casino.
Bits Studio has recently stated that they are in the process of speaking to their shareholders, in hopes of getting the authorization to gather the capital required for growth into the online casino industry. The company needs the funds in order to market themselves to online casinos and make the changes necessary to create online casino games. The details of the agreements between the three companies are still unclear; however, what is pretty obvious is that the online casino business is attracting more businesses.