Majesco Ventures into Online and Social Gambling

Majesco Entertainment Company has been around for over 20 years, developing and publishing casual and family video games for all console and handheld platforms. With the recent changes to American gambling laws, the company has decided to venture into the world of online and social gambling.

Majesco has created a brand new venture, called GMS Entertainment Limited, to deal exclusively with social casinos and online casinos in United States. The company plans to invest up to $4.5 million in the new venture depending on its financial performance in the future.

The current Chief Executive Officer of Majesco Entertainment, Jesse Sutton, will also serve as the Chairman of GMS Entertainment. According to American gambling news, the venture will purchase two companies closely connected with the online and social gaming, Orid Media, and Pariplay.

Orid Media Ltd. develops fixed odds and random-based online and mobile casino games designated for real-money gambling, social casinos, and lottery systems. Pariplay is a fully licensed online gambling operator working out of the Isle of Man. The founder of both Orid and Pariplay will get a 50% interest in the newly established GMS Entertainment Ltd.

Jesse Sutton, CEO of Majesco, had the following comments: "I am incredibly excited about this opportunity in the fast growing online gaming market and partnering with these talented individuals. During this transition year in console gaming, we have been actively exploring emerging growth opportunities in the social and online casino gaming industry to supplement our existing business. "

He went on to add: "Entering the market through this partnership allows us to participate in a rapidly growing market segment and position the company for longer term growth as more jurisdictions move to legalize real money online gaming. The complementary skills and abilities of all involved are expected to result in a successful venture."