GameCo Garners $8.25 Million to Bring Games Into Casinos
GameCo reported that it has raised both Seed and Series A financing totaling $8.25 million with the latest round led by Javelin Venture Partners, with participation by Courtside Ventures, QB1 Ventures, New York Angels, Steel Partners, and numerous strategically helpful individual investors.
According to a release, this capital allows GameCo to launch its first games into multiple casinos in 2016 and support the development and rollout of an ongoing pipeline of new games in 2017 and beyond.
GameCo's vision is to create a VIP destination for the next generation of casino customers-"the video game casino", combining the entertainment, engagement, and excitement of video games, esports, and gambling. The company is poised to deliver the world's first introduction to skill-based video game gambling when VGMs hit casino floors in Atlantic City this fall.
GameCo's proprietary VGM is an arcade-style video game cabinet and controller. Each VGM features a single-player game, generally 60-90 seconds to play, adapted from top console, pc, and mobile developers. The patented VGM gambling platform allows a player's skill in popular video games to determine the payout and winnings, while maintaining the same casino economics as slot machines.
Game genres such as action, adventure, sports, racing, fighting, platformer, and casual games will soon be prominent as casinos adapt to GenX and Millennial gamers who grew up playing video games.
"GenX and Millennials don't play slots, but they do play video games," said Jed Katz, Managing Director of Javelin Venture Partners. "And while casinos have been attracting those customers with hot nightclubs, bars, and restaurants, it's only logical that they offer a gambling product that's attractive and fun for this customer base. We love GameCo's methodical approval to filling that void and we expect that they will establish a long term leadership position in a space that's about to get really big," Katz added.
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THE DAILY VIEW
Papyrus Joins Forces with Designer Lela Rose
Papyrus is looking to bring the “elegance and style” of fashion to its greeting cards via a new designer collaboration series.
According to a release, the collaboration marks the first time a fashion design house and greeting card brand have joined forces to develop a custom greeting card collection.
Papyrus said it is partnering with American fashion designer Lela Rose to introduce the series. Rose will feature her "sophisticated yet modern style" in the debut card and gift collection, slated to launch during New York Fashion Week. The collection will be available in New York City Papyrus stores and select retailers in September, with availability expanding to all Papyrus locations and retailers in October.
"The fashion designer collaboration series is a celebration of the commitment Papyrus has to the arts, including a focus on the fashion industry, quality craftsmanship and trend-forward design," said Christy Kaprosy, President of Papyrus-Recycled Greetings. "We are delighted to have Lela Rose's elegant line lead the first Papyrus fashion designer collaboration program, and we are excited to bring more fashion designers to our loyal customers in the future."
The company noted the collection, which draws inspiration from some of Rose's recent runway designs, consists of 16 cards and five gift accessories, including gift bags, gift tissue, roll wrap and a gift tag set. It also will be available online at papyrusonline.com
"I'm thrilled to be the first designer to collaborate with Papyrus on their exclusive new fashion series," said Lela Rose. "This is a unique way to showcase our designs, silhouettes and prints, and extend the brand into a new category."
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