New players in the mobile casino industry seem to spring up more regularly even than mobile casino games and one company that is set to become a lot more famous over the coming months is Twentyfourseven Gaming Group. The Netherlands based firm was founded in 2010 and operates under two distinct brands, WannaGaming which is the mobile casino arm that was acquired in 2011 and Playlogic, the secondary arm of the business that specialises in console gaming.
Undoubtedly better known for its mobile casino games than console games, Twentyfourseven is well known for its mobile versions of both blackjack and roulette. The next step in their growth is to list on London’s junior stock market, the Alternative Investment Market, something that the company is looking to do with a valuation of between £60 and £70 million and without looking to raise any capital as part of the floatation.
Roger Smit, the founder and chief executive of Twentyfourseven Gaming Group 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.”
As a currently privately held company, the group is under no obligation to divulge financial results and opted not to do so for the previous financial results. Nevertheless, the £70 million valuation is not considered within the industry to be overly optimistic as the company already operates in such important markets as the UK, Italy and Spain, a strategy that has seen the likes of Probability PLC doing particularly well in the mobile gaming space.
Like Probability, Twentyfourseven is also keeping an increasingly close eye on the US market with rumblings that mobile casino gaming may also become legal there. Should that become the case, the group wants to ensure that it is well positioned to take advantage of what will surely become one of the most lucrative single markets in the world.
The presence of Playlogic under the Twentyfourseven banner may also prove important. With so many industry conferences and research papers focusing on delivering casino games through as many channels as possible, the console gaming specialist is ready and waiting for the advent of real money gaming on home video gaming consoles.
The floatation looks to be imminent, with the company having already hired a nominated adviser and broker, not to mention the senior appointment of David Mathewson, a well-known figure in the gaming industry owing to the fact that he is a former chief executive of Playtech.