Australian Online Casino Firm Aristocrat Buys Social Gaming Co

Australian online casino Aristocrat Leisure has strengthened it social gambling offerings with the acquisition of Product Madness.

Product Madness is considered to be one of the top five social slot game operators on Facebook. Aristocrat bought the San Francisco and London-based social gaming company for an undisclosed sum.

According to the agreement that is fully compliant with the Australian gambling laws, Aristocrat has acquired the entire Product Madness operation, including its product portfolio as well as its management and staff.

The acquisition will allow Aristocrat to offers its customers new forms of gaming through the social platform. The online gambling operator also plans to turn social gamblers into real-money casino players and online bettors from the social sites.

Aristocrat is on a buying spree, as the Australian company also acquired the GameAccount nLive platform earlier this year.

Aristocrat Chief executive officer and Managing Director, Jamie Odell commented the deal: "The Product Madness platform will allow our customers to meaningfully enhance that player experience.”

Odell added: “Together with our recently announced acquisition of an internet gaming system and remote game server, Aristocrat is making strategic and measured investments that position us for a future in which online channels will be key to our growth”

Product Madness co-founders, Lior Shiff and Jose Brotons will continue operating the business. The two businessmen released a joint statement saying: “Joining the Aristocrat team is a significant milestone for us. The combination of Aristocrat's game library with our powerful social technologies and know-how will allow us to create an exciting player experience with extensive reach, pushing our collective presence and traction in the online social gaming market to a whole new level."