Social Gaming is on the rise. The industry has grown explosively since smartphones became something that most people own, along with the integration of the applications in sites like Facebook where millions are playing against each other on a daily basis.
Social Gaming revenues is set to hit revenues of $2.7 billion this year and is expected to almost double by 2016, hitting revenues of $4.2 billion. Due to the high amounts of money involved in the industry and the explosive growth, more and more big gaming and casino companies are entering the industry, including Quebec-based Black Tie Ventures.
Black Tie Ventures is looking to launch their Pink Martini Casino project in the first quarter of 2015, having been through two rounds of financing to get the project rolling and is expecting to reach revenues of $150 million in the course of three years, targeting mainly women as they represent up to 60% of the market.
“This is by far the largest independent gaming project investment in Quebec City. Thanks to the support of a few visionary angel investors who embarked upon this adventure with us, we were able to deliver a prototype that exceeded our expectations on Facebook. We’re now looking forward to our official launch, which will be creatively rewarding for our collaborators and financially rewarding for our investors thanks to the multiple revenue streams that have been seamlessly incorporated into our product.” David Weiser, Co-founder of Black Tie Ventures said in a press release.
“Social casino games make up 50 percent of the top 20 grossing apps on Facebook and the iOS platforms. “The industry is set to generate $2.7 billion in revenues this year and is estimated to grow to $4.2 billion by 2016. Our prototype has already demonstrated the ability to track at par with industry metrics. We are convinced that our unique approach to in-game progression and rewards will offer our players one of the top social casino experiences out there.” Weiser added.