Game Play Network, Inc. (GPN) announced the closing of a new round of funding with strategic investments by HG Vora and other investors in the gaming and entertainment industry. This additional capital will enable the company to accelerate the expansion of its B2B business through strategic partnerships across a number of platform distribution models and business verticals.
GPN is a licensed gaming company with a patented technology platform that gives the vast majority of the U.S. the immediate, unrivaled ability to play social games for real money, reaching 40% more of the population than other iGaming companies today.
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GPN’s iGaming strategic partners can leverage their marketing engines and large customer bases to expand quickly across the country, lower their customer acquisition costs and increase the profitability of their players.
“HG Vora Capital is excited to make our initial investment in Game Play Network, a truly innovative company in the digital gaming space that opens large iGaming and other market opportunities for its B2B partners,” said Parag Vora, HG Vora’s founder and portfolio manager. “Based on our experience investing across the gaming ecosystem, we see great potential for GPN to create mutually beneficial partnerships in the space.”
GPN also announced today plans to enter into a strategic partnership with SuperDraft, the daily fantasy platform partnered with Caesars Entertainment Inc., which will give SuperDraft the opportunity to materially advance its online gaming vision to provide a well-rounded portfolio of DFS and iGaming products in 22 states currently with plans to expand into even more states in the near future.
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“We are grateful to HG Vora, our other investors and our strategic partners who have supported our vision to allow the majority of the country to enjoy a legal way to play social games for real money,” said David Marshall, Game Play Network’s CEO and Co-Founder.
In addition to the digital application of its patented gaming platform, GPN plans to expand via gaming floors and lounges across the country whereby specially designed machines, free-standing kiosks and tabletop display cases will be placed at racetracks, sporting venues, restaurants, bars, hotels and other locations in order to provide an additional source of entertainment, advertising and revenue for its distribution partners and the host locations.
This recent capital raise was led by Aaron Fischer, CFO and Chief Strategy Officer, who recently joined the company from MGM Resorts International, where he was the Chief Strategy Officer. He was previously a highly recognized equity research analyst covering Gaming and Consumer at CLSA/Citic and Goldman Sachs.
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