Majesco Entertainment to Enter Online Gambling Business
Majesco Entertainment, the Zumba Fitness and Cooking Mama publisher, is entering the online casino business by investing between $3.5 million and $4.5 million to establish GMS Entertainment.
An announcement from Majesco said that GMS Entertainment is being set up to explore “emerging growth opportunities in the social and online casino gaming industry to supplement Majesco’s existing business.”
As a part of the deal GMS Entertainment will be acquiring Orid Media Ltd and Pariplay Ltd, two established online and mobile real money gambling companies.
Also as part of the deal investor Yair Goldfinger, co-founder of ICQ, bought 3.3 million shares of Majesco common stock.
The CEO of Majesco Entertainment, Jesse Sutton, said, “During this transition year in console gaming, we have been actively exploring emerging growth opportunities in the social and online casino gaming industry to supplement our existing business. Entering the market through this partnership allows us to participate in a rapidly growing market segment and position the company for longer term growth as more jurisdictions move to legalize real money online gaming.”