CrowdGather Inc. (OTC: CRWG), an online discussion community and social gaming company, recently announced that its wholly owned subsidiary Plaor Inc. received the exclusive rights to several new social casino games created by MultiSlot Ltd. and Lightning Box Games Pty. Ltd. The games include MultiSlot’s Tiki Land™ to launch in August and Lighting Box’s Frogs n’ Flies™ to launch in September.
According to a recent report by Adam Krejcik of Eilers Research, the market for social casino games – where players can purchase chips but never cash out winnings – generates roughly 10x the revenue generated by traditional online gambling in regulated markets like New Jersey, Nevada, and Delaware. The social gaming category pulled in an estimated $350 million during the first quarter of 2014 alone.
CrowdGather acquired Plaor back in May 2014 and estimates the combined companies to generate approximately $2 million in annual revenue. With the social gaming category expected to grow at a 16.1% CAGR to reach $17.4 billion by 2019, according to Transparency Market Research, the company could carve out an attractive niche among peers like Zynga Inc. (NASDAQ: ZNGA) and Glu Mobile (NASDAQ: GLUU).
This week’s news follows similar exclusive agreements signed in May 2014 with 2 By 2 Gaming and Grover Gaming. Under these agreements, the company gained access to a number of popular titles, including Waltzing Wilds™, Swirling Sands™, Wild Birthday Blast™, Cosmic Invaders™, and Searing Sevens™.
Read the entire press release discussing the new game rights here:
Plaor, Inc., a wholly-owned subsidiary of vertical interest social media network CrowdGather, Inc. (CRWG), announced today that it has received certain exclusive social casino rights from MultiSlot, Ltd. for its popular video slot game Tiki Land™, which is expected to launch in August 2014. Additionally, Plaor, Inc. has secured certain exclusive rights to six video slots from leading developer Lightning Box Games Pty, Ltd., the first of which - Frogs n’ Flies™ - is expected to launch by September 2014.
Plaor, Inc. is licensing video slot content for use in its Mega Fame Casino & Slots™, providing innovative and entertaining gaming content to users by bringing popular slot games from partners like MultiSlot and Lightning Box Games to social and mobile platforms. “We are proud to be partnering with MultiSlot and Lightning Box Games for the continued expansion of our premium slot catalog. The addition of Tiki Land™ and Frogs n’ Flies™ to our already strong launch plan this year will be a key element of the superior player experience offered by Mega Fame Casino & Slots™,” said Richard Corredera, Chief Operating Officer of CrowdGather.
“We are very happy with our partnership with Plaor and consider their social casino to be quite unique, a good pairing for our innovative slot game designs,” said Peter Causley, Co-Founder and Managing Director of Lightning Box Games.
To start playing Mega Fame Casino & Slots™ for free, visit the Facebook App Center, Apple iOS App Store, or Google Play Store now.
About MultiSlot Ltd
MultiSlot is an innovative casino and gaming solutions provider incorporated and licensed in the Isle of Man with a team of almost 20 developers. The company has a portfolio of over 65 GLI (Gaming Labs) Certified casino games for real-money gaming, mobile, land based, and social applications and provides back-office, custom-development, and game hosting solutions.
About Lightning Box Games Pty Ltd
Lightning Box is a leading independent slot game design studio based in Sydney, Australia that has been partnering with a growing list of land-based, online, mobile, and social casino clients. Since its formation from IGT and Aristocrat Game designers in 2004, Lightning Box has been providing games for numerous jurisdictions and the company’s games can be found on many platforms in online casinos and land based gaming venues throughout the world. Some of the company’s partners include Scientific Games/WMS, Amaya, Cozy Games, SG Games, Spielo, Gala Coral, Inspired, JVL, Endemol, Quickfire, Leapfrog, and IGT.
About CrowdGather, Inc.
With its growing portfolio of special interest forums and enthusiast message board communities, CrowdGather (www.crowdgather.com) has created a centralized network to benefit forum members, forum owners, and forum advertisers. CrowdGather provides a highly interactive and informational social network for members, a management and revenue-sharing resource for third-party forum owners, and a largely untapped advertising network for marketers worldwide.
CrowdGather subsidiary, Plaor, a company that specializes in developing highly scalable multi-platform games, is located in the heart of Boston’s fast growing Innovation District. Plaor produces Mega Fame Casino, an innovative and highly rated social casino available on iOS, Android & desktop. With over 20 employees, the Plaor team is a mix of rising-star newcomers and widely-recognized game development veterans from companies including Rockstar Games, Turbine, Harmonix, Irrational Games, Nanigans, Sony Online Entertainment, ThoughtWorks, THQ, and Caesars Interactive Entertainment.
About Mega Fame Casino & Slots™
Mega Fame Casino & Slots™ is a high quality social casino available now on Facebook, iOS, and Android. Users can play more than a dozen unique slot themes, four types of Hold’em poker, video poker, along with the innovative MegaFame Blvd. Mega Fame Casino & Slots™features more than 300 celebrities and offers weekly celebrity tournaments bringing truly unique star-studded experiences to social games. Based on Plaor’s unaudited financial statements and without the benefit of marketing and advertising resources CrowdGather will provide, Mega Fame Casino & Slots™ currently has more than 20,000 daily active users and generates approximately $1 million in annualized revenues.
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth and business strategy. Words such as “expects,” “will,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company’s business; general economic, industry and market sector conditions; the ability to generate increased revenues from the Company’s forums and Plaor’s social casino; the ability to obtain additional financing; the ability to manage the Company’s growth; the ability to develop and market new technologies to respond to rapid technological changes; competitive factors in the market(s) in which the Company operates; and other events, factors and risks disclosed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.