Tech Community Buys Into ISIS LAB Social Gambling Network
(ACCESSWIRE (Canada) Via Acquire Media NewsEdge) Category: Baystreet Newswire
Company: Global Metal News
Date: Thursday, February 13, 2014
SOURCE: Technology Dispatch / LONDON ENGLAND / ACCESSWIRE / An underground strike February 4-6, 2014 caused chaos on the streets of London but failed to deter 23,000 gaming industry professionals from attending ICE – the world’s premiere gaming and gamblification conference.
The conference, at ExCeL London 10 minutes from Canary Wharf, attracts established gaming companies like Bally Technologies (BYI-NYSE), Amaya Gaming Group (AYA-TSX) and International Game Technology (IGT-NYSE) – as well as A-list technology journalists, innovators and decision makers.
ICE is an established launch pad for gaming innovation, with hundreds of new products introduced over the 3 day conference. For a gamblification company, attending ICE is like singing in front of a classically trained audience. Excellence is recognised. Sour notes will be detected.
Since the end of the London conference, ICE attendee ISIS LAB (LAB-TSX.V) traded 3.3 million shares, surging 51% – from .41 to .62. No news has flowed from LAB during this time and the buyers appear to be sophisticated technology investors attending the conference.
LAB has designed a social network which surrounds the gaming experience and lowers the barriers of entry for gamers to create cash revenues for their product. The company is leveraging growth in regulated, real-money, online gaming through the gamblification of social games.
Isis CEO, Chairman, and President Daniel Kajouie founded 1Gaming – which transformed on-line Bingo into a multi-currency, multi-language online platform in Europe. 1Gaming’s platform was ultimately sold to Unibet for $110 Million.
“Few game developers have the marketing expertise to turn their games into real money,” explained Kajouie in a recent interview with Technology Investment News, “Isis has created a gamblification engine that will take care of that while creating the ultimate user social experience.”
For Isis clients operating within fully regulated markets the company offers a turnkey solution including a full commerce application and back office suite.
“One of the challenges of the $36 billion gambling industry is that it is difficult to differentiate one platform from another,” states Kajouie, “Therefore there is little brand loyalty. Players are constantly shopping for the best deal. The Isis social ecosystem creates stickiness – so that players will exhibit loyalty to one platform.”
Isis is not itself a game developer nor does it hold a gambling license. “Each jurisdiction has its own culture,” stated Kojouie, “We are not trying to be ‘one-size-fits-all’. Our software is modular and can be adapted to local environments.”
On Jan. 13, 2014 LAB announced that it has entered into an agreement with Microgame SPA in Italy to deliver its bingo gaming platform to current and future operators serviced by Microgame.
Once the ISIS Bingo Platform is launched it will be on 125 online Italian gaming sites, available to significant number of real money players across the Microgame platform. In 2013, Microgame’s customers generated gross gaming turnover of EUR1.5 billion.
The agreement with Microgame enables ISIS Lab to enter one of the world’s largest, fully regulated online gaming market while providing Microgame a significant competitive advantage for generating cash. Microgame is fully licensed by the Italian Gaming Authority.
“We are extremely pleased that Microgame has chosen ISIS Lab’s Bingo platform to power its network,” stated Kajouie, “This agreement will create a large and immediate footprint for Isis in the Italian Market and our partnership with Microgame confirms ISIS as the strong technology provider in the Gaming and Social Media arena.”
Global gaming market revenues were approximately $430 billion in 2013. Eight percent ($34 million) came from online interactive gaming. This share is expected to grow to 10% of the market by 2015. Online interactive gaming is the fastest growing segment of the gaming market.
The ISIS software platform test results indicates player acquisition costs could be reduced to approximately US$40.00 to US$60.00 per player, depending on jurisdiction, setting ISIS apart from traditional suppliers.
Current estimates indicate a U.K. player spends US$600, an Italian player US$900, while their American counterpart spends an average of US$1,300 gaming during their “playing life span” (approx. 12 – 18 mo.).
Three US states have legalized gaming, including online, with several in the process. On November 26, 2013, six Atlantic City casinos opened their online gambling websites to the public. According to a Bloomberg Industries forecast, U.S. annual online gambling revenue will reach $23 billion nationwide by 2023.
Average Social game player will spend $78 per annum, while an average converted online gambler will spend more than $800.
“We intend to disrupt the online gaming industry by incentivising game developers on the social side,” states Kajouie, “As well as servicing established casinos, our ecosystem will provide talented independent game developers an opportunity to make a living.”
“Whether you view social gaming as a tool to acquire and convert customers, a stand-alone business unit or a place-filler for cash gaming,” states the ICE manifesto, “there’s no denying it is a critical and fast-growing sector for the gambling industry.”
Isis Lab is currently trading at .62 with a market cap of $33 million.
SOURCE: Technology Dispatch
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