Auction of Wizard Gaming

[Wizardgaming]

November 1st, 2010


The Directors of Wizard Gaming have decided after exploring strategic options for the company other than its remaining an independent software developer to hold a public and open auction for its assets.

The Directors have come to the conclusion that the Company's Software can be commercialized faster in the hands of new owner's.

The software has taken over four years to develop and has a book development cost of over $5,000,000. This auction represents a fabulous opportunity for an i-gaming operator or other party wishing to have their own unique i-gaming software or to enter the casino software industry to do so at a cost likely far below what the replacement cost would be today.

You can see the Wizard Gaming software in action at:

http://www.SlotsCountry.co.uk

The Wizard Gaming website can be seen at:

http://www.WizardGaming.co.uk

Full information on the auction and a link to submit a bid may be found at:

http://www.wizardgaming.co.uk/auction/auction.html

[nisosbar]

I hope they get some action - their slots are really fun.

[me_and_ed]

300k starting bid. What I dont understand is with all the providers out there handing out licenses like candy why could Wizard not secure new casino operators??

[Nifty29]

These guys obviously don't know their ass from their elbow.

How can they not either find someone to run a casino with their software, or run their own casino?

I mean, the games were well-received when All Star Slots had them, they just didnt run the operation properly.

It sounds like a silly idea IMO. If the actual creators cannot sell it to potential casino operators, what hope as anyone else got?

I will open the bidding at USD$7.50

[Casinomeister]

You can watch the bidding here:
http://www.wizardgaming.co.uk/bid/au...tion_id=100024

[Simmo!]

It sounds like a silly idea IMO. If the actual creators cannot sell it to potential casino operators, what hope as anyone else got?

As a techie myself, I can assure you the ability to sell and the ability to create are two very different skills Licensing the games out rather than a total casino solution seems to be the obvious path to follow.

[vinylweatherman]

It could be quite a bargain for someone who knows what to do with it. Maybe the current owners have simply run out of funds to carry on with marketing and development, and are trying to salvage something from what they have already created.

The income so far generated is a mere drop in the ocean compared to the costs of development, so maybe their banks have pulled the plug on further funding, and want to see some of their money back.

Many perfectly viable businesses are going bust because they cannot get enough short to mid term finance to carry on. Someone who already HAS enough spare capital CAN make something out of such a business.

For the new owners, getting their first operator is going to be the hardest part. They will also have to make sure their operators are fit to operate a casino, otherwise the SOFTWARE will be tainted by the experience of badly run operations.

This seems to have been a problem when Wizard first launched. It was "great games, shame about the operators". Wizard then vanished from sight because no operators were using the software.

In some ways, this might attract MORE bidding if there WERE operators currently using the product, and paying the fees, producing operating income for the company.

[spiderlegz]

Maybe their back-office solutions are below industry standards? Would be something I would check thoroughly.

[nisosbar]

Couldn't a standalone casino (like Sloto or whoever) operate a Wizard casino concurrent with their existing casinos, operating them administratively as a group?

[Nifty29]

As a techie myself, I can assure you the ability to sell and the ability to create are two very different skills Licensing the games out rather than a total casino solution seems to be the obvious path to follow.

Cool, but they aren't licensing it they are offloading it completely.

I guess I'm just surprised anyone would do that when there is such a huge potential in being a software provider. Surely it would have been worth hiring a professional marketing and sales manager and have a shot at making it work.

I would also think that selling it for a good price would be hampered by the fact that no casinos are using it,and that the only casino that did gave it the flick.