Social Gaming Firm Changes Hands
By Casinomeister, Last updated Nov 21, 2014
Majesco sells off loss-making GMS Entertainment to PariPlay
It looks as if video game and wannabe social gaming operator Majesco has run into trouble; the company has warned in a stock exchange advisory that its recent losses raise doubts on its ability to survive, and has disclosed that it has sold off the loss making GMS Entertainment social gaming subsidiary to PariPlay.
Majesco has advised that its loss on the social gaming venture is between $1.3 million and $1.7 million.
GMS launched just on a year ago (see previous InfoPowa report) but has struggled, laying off staff last month and curtailing game development efforts.
PariPlay reportedly paid just $250,000 in cash for GMS with provision for a further $250,000 contingent on GMS performance over the next two years.
Online Casino News Courtesy of Infopowa
More news
here.
The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophotography.
bryan@casinomeister.com
Top 5 casinos
