24/7 Gaming To Float on the AIM
TwentyFourSeven Gaming Group is announcing its intention to float on the Alternative Investment Market with an initial value of around £60m to £70m.
The company produces mobile blackjack and roulette games for smartphones and tables and is intending to enter the market without raising any capital. The group is hoping to take advantage of the booming mobile gaming market which according to analysts should generate around $100 billion of annual sales by 2017.
The founder and Chief Exectuve, Roger Smit, said “The move to list our company on AIM is an important and logical step as we increase our marketing investment in existing markets and expand into new territories. We look forward to a successful future as a public company.”
The company operates across the regulated markets in countries such as the UK, Italy and Spain. However, it is now going to focus on developing a strategy for the US market. It is also hoping to take advantage of real-money gaming when it becomes legal on games consoles.
Westhouse Securities, the investment bank, wil be acting as nominated adviser and broker to the company.