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TIGA Calls for the Launch of a Video Games Investment Fund

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TIGA Calls for the Launch of a Video Games Investment FundReading Time: 3 minutes

 

TIGA, the network for games developers and digital publishers, and the trade association representing the video games industry, has called on the Chancellor to introduce a Video Games Investment Fund (VGIF) in the 2018 Budget to enhance studios’ access to finance, promote the development of original IP and to encourage studio growth.

The VGIF would make grants or loans of between £75,000 and £500,000 available to games businesses on a matched funding basis. TIGA made the comments in a new report, Sustaining Success: A Video Games Investment Fund (October 2018) in advance of the Chancellor’s Autumn Budget on October 29th 2018.

Tom Watson MP, Deputy Leader of the Labour Party and Shadow Secretary of State for Digital, Culture, Media and Sport, said:

Britain’s video games industry is a world leader, and it’s vital that it stays that way. TIGA’s proposal for a Games Investment Fund is something Labour is seriously considering as a way to boost innovation, investment and jobs in the sector. We need to make sure we sustain success in one of our most important creative industries.”

Chris Law MP, Co-Chair of the All Party Parliamentary Group for Video Games in the Westminster Parliament, said:

“Establishing TIGA’s proposed Games Investment Fund would boost investment and employment and help to grow the video games industry in the all of the UK’s creative hotspots, including the Dundee and wider Scottish games development clusters.”

Access to finance is a challenge for many UK games developers

Games developers typically struggle to raise debt finance because they have relatively few assets and little financial track record. Equally, most venture capitalists and business angels will not invest in games because of high risk levels, low knowledge levels about the industry and high, largely fixed costs of due diligence relative to the amount of equity sought. This creates a market failure in access to finance.

A Solution: A Video Games Investment Fund

The Government should introduce a VGIF to improve developers’ access to finance:

  • The VGIF could provide funding of between £75,000 and £500,000 to games developers nationwide. Funding between £75,000 and £100,000 would be delivered as grants while above £100,000 soft loans would be matched pound for pound to ensure that games companies find new investment from other sources.
  • A commercial mentoring business advisory service, staffed by paid industry veterans, would be mandated for successful companies.
  • The VGIF could be financed via Grant in Aid, the British Business Bank or the National Lottery and could be managed by the UK Games Talent and Finance Community Interest Company, the BGI, a British Business Bank-backed fund such as Mercia Technologies, the British Film Institute or the Arts Councils.

The impact of the VGIF

Research commissioned by TIGA shows that the VGIF would have a positive impact on the UK’s games industry and wider economy. The return on investment of £26.5m over 5 years represents good value for money and over the five years from 2019 to 2023, the VGIF would:

  • increase headcount by nearly 1,500 staff;
  • create over 2,700 indirect jobs in the supply chain around games development;
  • encourage games companies to invest an additional £215 million in development expenditure;
  • contribute an additional £197 million in tax revenues over 5 years;
  • help 175 studios (17 per cent of total);
  • increase Gross Domestic Product (GDP) by an additional £480 million.

Dr Richard Wilson OBE, TIGA CEO, said:

“TIGA’s plan for a Video Games Investment Fund would improve developers’ access to finance, encourage the creation of new IP and strengthen the UK video games industry. The matched funding criteria would attract new investment from new investors into games and drive employment in the industry. The VGIF would also enhance productivity growth in the sector by catalysing investment in capital, skills and innovation.

“A similar scheme in Finland operated by the agency Tekes has provided financial support to over one fifth of the entire Finnish games industry’s studio population. The programme has more than paid for itself: for every euro invested by Tekes in the games industry, a return ranging from nine to 26 euros has been generated.”

Ahead of the 2018 Budget, TIGA has called on the Chancellor to introduce the VGIF, reform the Apprenticeship Levy into a more general Training Levy, and make sure that video games companies have access to skilled foreign workers by keeping salaries for Tier 2 visas at competitive levels.

 

About TIGA:

TIGA is the network for games developers and digital publishers and the trade association representing the video games industry. Our core purpose is to strengthen the games development and digital publishing sector. We achieve this by campaigning for the industry in the corridors of power, championing the industry in the media and helping our members commercially.

TIGA is intent on building an enduring organisation which continually improves; a business that will make a significant impact on the games industry and so benefit our membership and the wider economy. Since 2010, TIGA has won 24 business awards, an achievement which reflects TIGA’s drive for improvement and to meet best practice.

The economic impact assessment of the GIF has been carried out by Games Investor Consulting. For a copy of Sustaining Success: A Games Investment Fund (TIGA, October 2017), please contact: [email protected]

 

 

 


Source: Latest News on European Gaming Media Network

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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GGPoker Launches WSOP Express: Your Fast Track To Poker’s Biggest Live Events!

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GGPoker, the World’s Biggest Poker Room, today announced the launch of WSOP Express, a revolutionary new series of online qualifier tournaments designed to give every player the chance to win their way into the most prestigious live poker events on the planet. 

WSOP Express utilizes a simple ‘steps’ format, allowing players to embark on their journey to glory from tiny buy-ins:

  • Step 1: All-In or Fold 4-max Sit & Go – $0.50 or Step 1 ticket buy-in – Step 2 ticket prize
  • Step 2: Spin & Gold 6-max Sit & Go – $2 or Step 2 ticket buy-in – Step 2-4 ticket or WSOP Pass prize
  • Step 3: Turbo Tournament – $10 or Step 3 ticket buy-in – Step 4 ticket prize
  • Step 4: Regular Tournament – $150 or Step 4 ticket buy-in – Ring Pass or Bracelet Pass prize

Players can start at Step 1 or buy directly into any step, making the path to live tournament poker accessible to all.

GGPoker will also host special step tournaments, which participants can play to win the bigger WSOP Express passes:

  • Bracelet Step: Regular Tournament – $1,000 buy-in or ticket – Bracelet Pass prize
  • Super Step: Regular Tournament – $2,500 buy-in or ticket – Super Pass prize

Free WSOP Express tickets can be claimed through various exciting promotions, including cash game challenges and more.

The available WSOP Express passes are:

  • $5,000 Ring Pass: Your ticket to WSOP Super Circuit Live Events, this pass includes event buy-in plus expenses
  • $10,000 Bracelet Pass: Grants entry to $10,000 WSOP bracelet events, such as next year’s iconic WSOP 2026 $10K Main Event in Las Vegas
  • $30,000 Super Pass: The ultimate package for the WSOP Paradise Super Main Event, including your $26K entry, discounted accommodation at the exclusive Atlantis Paradise Island resort, and more

A key focus of WSOP Express is to open the doors to the newly announced WSOP Paradise 2025 Super Main Event. Taking place this December at Atlantis Paradise Island in the Bahamas, this monumental tournament boasts a record-breaking $60,000,000 prize guarantee, making it the largest live poker guarantee in history, shattering last year’s impressive $50,000,000 Super Main Event guarantee.

Sarne Lightman, Managing Director of GGPoker, shared his excitement: “This is a game-changer for the GGPoker community, literally. Imagine starting with a tiny buy-in and winning your way into the biggest live poker events on the planet, including the record-breaking $60,000,000 guaranteed WSOP Paradise Super Main Event in the Bahamas! WSOP Express is designed to turn dreams into reality, making the pinnacle of poker truly accessible for everyone – play WSOP Express and take the fast track to the WSOP!”

The WSOP Express journey is straightforward: complete steps, earn your pass, and enter the WSOP experience. This streamlined process ensures that players can easily track their progress towards their desired live event.

Visit GGPoker today to start your WSOP Express journey and take aim at poker’s biggest prizes: ggpoker.com/tournaments/wsop-express/

The post GGPoker Launches WSOP Express: Your Fast Track To Poker’s Biggest Live Events! appeared first on European Gaming Industry News.

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Week 29/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Spinomenal has rolled out the latest addition to its iconic Demi Gods Series: Demi Gods VI Hold & Hit. In this new release, players are transported to a mystical realm surrounded by ominous mountains and swirling mists. The adventure unfolds within a 5×3 reel frame, where electric anticipation crackles around each spin. Atlas, Selene, Helios, and Hera are once again the main protagonists on a mission through ancient Greece in the hunt for glory.

Million Games is thrilled to announce the launch of Fortune Fairies, an enchanting new video slot that takes players into a mystical forest filled with magic, rewards, and a jackpot. This 5×3, high volatility slot invites players into a world, where ethereal fairies, shimmering orbs, and hidden treasures await. Designed for players who love immersive storytelling and rewarding gameplay, Fortune Fairies features two captivating bonus rounds.

GAMOMAT, one of the leading independent German software developers for slot games, has released Roman Legion Flaming Link, the latest addition to join the line-up of its hugely successful Flaming Link series. This imperious 5×3 slot marches players straight to the heart of the Roman Empire, where legionnaires must vie for victory.

PG Soft has unveiled its fantasy-fueled video slot, Dragon’s Treasure Quest. The game is presented within a  5-reel, 3-row frame and features expanding reels and multipliers. Players must track down hidden treasures while navigating through legendary lore to find Wilds and Scatters, represented by a dragon eye and treasure chest respectively.

BC.GAME is adding a dark twist to its slot lineup with the launch of Symbiote, a high-volatility crypto slot developed by Croco Gaming. Inspire by the cult comic Venom, the game invites players into a battle for control — where fusing with an alien parasite brings incredible power, but always at a cost. Symbiote draws heavy visual influence from comic book aesthetics, particularly from the Venom universe.

Get ready to don your sombrero and put your piñata smashing arm to the test in Piñateros – the brand-new Premium release from popular software provider, Swintt, where collecting six or more flaming chilis can unlock fiery rewards or one of four red-hot local jackpots. Boasting a colourful collection of symbols that serves up sugar, spice and all things nice, this exciting 5×3 reel, 50-payline slot includes fresh fruits, thirst-quenching beverages and Mexican musical instruments among its unique icons, with expanding wilds helping to create further wins.

 

Saddle up, slot fans! TaDa Gaming’s latest release, Bounty Frenzy, is here to ignite the reels with wild west energy, gold-studded features and nonstop action. Packed with cascading wins, dynamic multipliers and transforming Gold Frame Wilds, this medium-volatility slot delivers thrilling gameplay with a 5000x max win potential.

The chaos-loving Joker returns in Cashin’ Joker, a vibrant 3-reel slot from Play’n GO that doesn’t play by the rules. As numbers tumble onto the reels and transform into powerful multipliers, players are thrust into a fast-paced experience full of surprises and dramatic shifts in momentum. Every time the Joker symbol appears, the game shifts into another gear.

Red Rake Gaming has released Super 60 Stars, the latest addition to its acclaimed Super series, now available to all partner operators. This new release retains the fast-paced gameplay and wide variety of features that have made the series one of the most popular in the iGaming industry, while also introducing an exclusive new addition that adds even more excitement to the game. The new feature in Super 60 Stars is the “Super 60 Stars” symbol, which can appear anywhere on the reels and trigger the brand-new “Super 60 Gold X” minigame.

The post Week 29/2025 slot games releases appeared first on European Gaming Industry News.

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Legends Charity Game in Lisbon to raise millions for charity

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International stars of the football world are coming together in Lisbon this September for the Legends Charity Game in order to raise funds for communities suffering from the effects of war and local tensions around the world.

Timed to coincide with the SBC Summit in Lisbon, the Legends Charity Game on Monday 15 September is a highly anticipated match between Portugal Legends vs. World Legends, featuring some of the biggest names in the history of football. The Legends will compete in front of 60,000 Fans, and in front of millions of people that will watch the game online / on TV.

With strong support from the Portuguese Football Federation (FPF), the match will see Portuguese legends playing against footballing royalty from the Rest of the World in an event that aims to raise over €1,000,000 for selected charities in the support of communities and families experiencing extreme hardship.

Luis Figo, who won trophies across Europe as well as the Ballon d’Or in 2000, will be captaining the Portugal Legends side. He comments: “It’s always a pleasure to come back to my country and play football, especially when wearing the national team colours! Hope to see a full stadium in my hometown Lisbon for this amazing Legends Charity Game and raise funds for important charity causes.”

Joining Figo from the triumphant Euro 2016 winning squad are Ricardo Quaresma, Eliseu and Ricardo Carvalho. Champions League winners Fábio Coentrão, Maniche, Hugo Almeida, Vitor Baia, José Bosingwa and Deco will also play on the night as well as other famous Portuguese legends include Beto, Jorge Andrade, Dani, Tiago Mendes, Hélder Postiga, Nuno Gomes and Simão. They will be managed by another Champions League winner – Costinha.

They will be facing stiff competition from the World Legends squad that includes legends such as: Peter Schmeichel (Denmark), Cafu (Brazil), Javier Zanetti (Argentina), Diego Lugano (Uruguay), Leonardo Bonucci (Italy), Gaizka Mendieta (Spain), Youri Djorkaeff (France), Christian Karambeu (France), Marek Hamsik (Slovakia), Giorgos Karagounis (Greece), Krassimir Balakov (Bulgaria), Gheorghe Hagi (Romania), Edwin van der Sar (Netherlands) Henrik Larsson (Sweden), Shota Arveladze (Georgia), Javier Saviola (Argentina), and Ronaldinho (Brazil).

The match will be played in front of 60,000 fans at either Estádio da Luz (Benfica Stadium) or José Alvalade Stadium (Sporting Lisbon Stadium), which will be part of a big and exciting reveal in August when the Champions League schedule is released.

The Legends Charity Game aims to raise over €1,000,000 for a number of good causes based both abroad and in Portugal as the Football Family aims to give back to the families of the world. Funds will be raised for both international and national charities who help families and communities in need.

One of the international organisations that The Legends Charity Game will be raising funds for is the Ukrainian Red Cross Society (URCS). Every day, the Ukrainian Red Cross teams provide evacuation support, psychosocial and first aid, provide essential humanitarian relief, support temporary shelters, help with housing restoration, and spread awareness about unexploded ordnance risks. Ukrainian Red Cross volunteers and staff work in all regions of the country to support those who need it most.

Maksym Dotsenko, Director General of the Ukrainian Red Cross, comments: “The war in Ukraine continues, and unfortunately, millions of people still need support every day. We have no right to stop. Initiatives like the Legends Charity Game are not just about the funds raised. They are about compassion, and the understanding that the world stands by us. They are about solidarity that transforms into real help for those going through the toughest times. We are grateful to everyone who takes part.”

The Lisbon-based Cáritas Portuguesa, which offers critical support to marginalised communities fighting issues such as poverty and inadequate emergency relief, is also a charitable partner for the Legends Charity Game.

SBC Founder & CEO Rasmus Sojmark explains: “We are taking our charitable endeavours up a notch this year with the spectacular football match in order to raise a lot of money for some very worthy causes. By tying the match in with the SBC Summit in Lisbon the same week, we have found a way for the communities around football and business to help other communities that are facing unimaginable hardships.”

Tickets  are available to purchase via the official website www.legendscharitygame.com. See Tickets will handle ticket management of the event.

Sponsorships and Hospitality are still available in support of the event and the charities. Some of the sponsors already confirmed include iGP, Soft2Bet, Sportingtech, Vegas Legends, Spribe, SmartSoft and Alea.

Sport Global Charitable Foundation is a restricted fund under the auspices of Prism the Gift Fund (UK registered charity with charity number 1099682). All of the profits from the Legends Charity Game will support the Sport Global Charitable Foundation’s beneficiary charities across a range of causes including the Ukrainian Red Cross Society and Caritas Portugal.

The post Legends Charity Game in Lisbon to raise millions for charity appeared first on European Gaming Industry News.

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