Big Plans for Online Casino Technology Firm
The recent floatation of online casino technology firm Excapsa has been attributed to one factor. The Toronto based online casino company is currently seeking to buy another online casinos software development firm and the profits made from the sell of its shares has made it all possible. Excapsa technology made a profit of 56 million pounds sterling last month after the IPO, and according to the online casino firm’s chief executive Jim Ryan, the company couldn’t be in better shape.
“That was the whole reason for us going public – to put ourselves in the position of a long term player, as opposed to somebody who would perhaps be an ideal acquisition candidate,” Ryan told media outlet Reuters shortly after the online casino technology firm’s appearance on the London Stock Exchange. Ryan also pointed out that the decision to go public has made it possible to work on the development of new online casino games. Excapsa has to date been mostly a poker software firm and the company is eager to try its hands at developing other online casino products.
Ryan revealed his online casino technology firm is also looking to acquire new software developers. Ryan had previously hinted that the firm is keen to develop a network of companies to supply the industry with online casino games and games of skill. While the CEO refrained from mentioning any names, analysts say that it is more likely that Excapsa will make several smaller acquisitions rather than one large purchase.