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QTech Games team unveils blueprint for new global gaming studio group

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qtech QTech Games team unveils blueprint for new global gaming studio groupReading Time: 3 minutes

 

The brains behind Asia’s number-one games distributor to power GameFactory, as it seeks to close its venture round

 

The team behind QTech Games, Asia’s fastest-growing games distributor, is once again broadening its sphere of industry influence by announcing a breakthrough proposition in the launch of GameFactory, an embryonic global gaming studio with the remit to invest in and recruit up-and-coming studios from across the globe.

After an initial $3m money-raise for proof of concept, which is already underway, GameFactory intends to acquire or form partnerships with a series of gaming studios and empower them to continue developing their games independently, while GameFactory handles sales through a central sales force, utilising its existing distribution model. It’s all backed by an existing compliance and administration framework in addition to EU / UK licences.

Global CEO Markus Nasholm states that the typical investment will have between 5-10 games live, preferably generating revenues. This can pertain to a portfolio of games, standalone game titles, or exclusive distribution in certain markets.

The concept was devised after witnessing the exponential rise in the number of game development studios over the past 4-8 years. To which end, GameFactory now seeks to form a studio group of some 10-15 rising stars of igaming with which it will grow their combined global footprint.

GameFactory’s ultimate objective is to become the best casino content provider on the market – a super studio-group that offers a wide variety of top-quality games with regular releases which has the flexibility and freshness to take on the likes of NetEnt and Playtech in a B2B-supplier era that has yet to truly consolidate.

QTech Games already demonstrated its intent in this field last year, when it acquired a majority share in emerging Swedish studio Snowborn Games, whose first-class production, Portals, was launched on limited release in January. This new game is now exclusively available via the QTech Games platform.

Nasholm commented: “Time was when behemoths like Novomatic, Playtech, Microgaming and NetEnt dominated the gaming landscape. But now there are a few hundred studios chasing their coattails which have trouble growing, getting distribution and complying with increasing regulatory demands. Whatever the domain of discourse, QTech’s model has always been to ensure that genuine talent never gets crowded out of the conversation, and GameFactory is our response to this need.

“The trend for consolidation is industry-wide – we have seen this among casino operators and in the affiliate space. Indeed, my former employer Catena Media is a great example, showing the power of combining smaller outfits with a greater group. However, when combining, the danger is that breakout talents can lose their way and individuality in the process. And when you’re at scale-up stage, you can’t afford to risk that. GameFactory safeguards this principle with a strong set of central mechanics, a clear business ethos and a core sense of identity, supported by a team of experienced veterans.”

“Over the coming months, the initial goal is to complete the funding round, make the key investments and create a proof of concept, before embarking on the larger acquisition spree. We look forward to hearing from any interested studios and investors, and will unveil our key senior recruitments in the coming months”

“This is the next phase in our mission to become the largest provider of digital entertainment in Asia and beyond over the next few years. Indeed, we are presently very active in this space, looking to enlist small gaming studios with big ideas to foster a forward-thinking fellowship within GameFactory.”

QTech Games delegates are on site at this week’s ICE London 2019, where Asia’s number-one distributor will be looking to add to its burgeoning suite of worldwide relationships with both suppliers and operators. To book a meeting at ICE London, simply email: sales@qtechgames.com.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: QTech Games team unveils blueprint for new global gaming studio group

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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Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1

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7-15 Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1Reading Time: 1 minute

 

Swedish iGaming market has revealed its first financial report for the first quarter and posts a total turnover of €313.8 million. ATG, the former horse racing monopoly, led the market with a turnover of €102 million.

In January, online gaming turnover reached €106 million, slightly declined to €104 million in February and was flat in March.

The Svenska Spel Sport & Casino reported turnover of €55 million for the three months, €18 million in January, €18.3 million in February and repeated in March.

The newly-regulated Swedish iGaming market was launched on January 1, introducing major changes for the local industry, such as the rebrand of the local regulator and the introduction of new iGaming companies.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Swedish iGaming Market Posts a Turnover of €313.8 Million in Q1

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Iowa House Passes the Bill to Legalise Sports Betting

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6-10 Iowa House Passes the Bill to Legalise Sports BettingReading Time: 1 minute

 

The Iowa House has passed a bill which legalises betting on sporting events and fantasy sports and send it to the governor for consideration.

The Senate gave its approval and the bill now goes to Gov. Kim Reynolds who has said she will await the final version of the bill to decide whether she will sign it.

The bill authorises the Iowa Racing and Gaming Commission to establish rules for betting on professional, collegiate and international sporting events, including motor racing.

The bill also legalises fantasy sports contests and internet fantasy sports betting but delays betting based on college sporting event statistics until May 2020.

The commission regulates the 19 state-licensed casinos in Iowa. Once the rules are set up by the commission as early as this summer sports bets can be placed at casinos or on a mobile application they establish.

Sports betting would be limited to those 21 and older, and the bill sets a 6.75% tax on net receipts. Taxes and licensing fees could bring in estimated annual revenue of $2.3 million to $4 million annually.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Iowa House Passes the Bill to Legalise Sports Betting

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Japan Approves New Scheme to Stem Problems Related to Gambling

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5-14 Japan Approves New Scheme to Stem Problems Related to GamblingReading Time: 1 minute

 

As part of a plan to stem problems related to gambling, Japan has approved a scheme which limits people’s access to casinos and other betting establishments as well as removing cash machines from these locations. The move comes ahead of the opening of several casinos in the country.

Based on the plan, prefectures in the country will also come up with their own steps to counter any gambling-related problems.

“We will create a healthy society by thoroughly implementing measures based on the basic plan in order to prevent people from finding themselves in difficult situations,” Chief Cabinet Secretary Yoshihide Suga said.

Under the basic plan, operators of slot machines, pachinko parlours and government-operated gambling venues, including horse racing and keirin racing tracks, have been asked to remove cash machines from their facilities. Pachinko parlour operators are urged not to allow customers to enter their premises if requested by family members. The authorities also urged horse racetrack operators to utilise facial recognition systems to restrict the entry of gambling addicts.

Other measures in place include a proposal on putting up warnings about gambling addiction on newspapers, magazines, and TV commercials. It also urges the country’s 47 prefectures and 20 major cities to set up treatment facilities for gambling addicts by 2020.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Japan Approves New Scheme to Stem Problems Related to Gambling

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