New social casino development making good progress
News on 6 Nov 2014
News on 6 Nov 2014
Development on a new contender in the online and mobile social casino vertical will soon see the launch of Pink Martini Casino, an enterprise owned by Quebec City-based Black Tie Ventures and targeted primarily on the female gender.
Through two rounds of financing Black Tie is financially well supported, and work is well advanced on the site, which is scheduled for a full launch early in 2015.
In a press statement last (October) month, Black Tie CEO David Weiser said the site is designed and targeted on the feminine demographic, which he claims represents 60 percent of the social casino market.
Weiser, who is the co-founder of Black Tie Ventures, claims that the Pink Martini project has the capacity to generate $150 million during the next three years, as social casino games have quickly become a $2.7 billion worldwide industry thanks to rapid growth on Facebook and mobile.
“This is by far the largest independent gaming project investment in Quebec City,” said Weiser. “Thanks to the support of a few visionary angel investors who embarked upon this adventure with us, we were able to deliver a prototype that exceeded our expectations on Facebook.
“We’re now looking forward to our official launch, which will be creatively rewarding for our collaborators and financially rewarding for our investors thanks to the multiple revenue streams that have been seamlessly incorporated into our product.”
Weiser said that Black Tie Ventures will invest $7.5 million in Quebec City’s local economy to help support Pink Martini Casino’s development.
“Social casino games make up 50 percent of the top 20 grossing apps on Facebook and the iOS platforms,” he said. “The industry is set to generate $2.7 billion in revenues this year and is estimated to grow to $4.2 billion by 2016.
“Our prototype has already demonstrated the ability to track at par with industry metrics. We are convinced that our unique approach to in-game progression and rewards will offer our players one of the top social casino experiences out there.”
