ENDEMOL MAKES SUBSTANTIAL INVESTMENT IN PLUMBEE
16th December, 2013 at 15:26:16
Development of social casino games based on Endemol brands
Multi-platform entertainment company Endemol has made a $13 million investment in social casino gaming company Plumbee, effectively valuing the business at $40 million.
The two companies will create premium social casino games, exploiting Endemol's global entertainment brands and building on Plumbee's worldwide user base.
Plumbee was founded in October 2011 and its flagship app Mirrorball Slots is among the top ten highest grossing social casino games on Facebook.
The firm is also in a joint venture with Unibet
with their Bonza Gaming product which comprises real-money casino games Bonza Slots on Facebook and its more recent launch of Bonza Casino (see previous reports).
"Joining forces with a world leading content creator like Endemol ideally positions us to develop a new generation of premium social games. Endemol will become a strategic shareholder and this will enable us to leverage the company's international network and globally recognised brands," said Raf Keustermans, chief executive officer of Plumbee. "This will significantly boost the growth of our worldwide user base as we create gaming experiences that stand out from the competition."
"Social casino gaming is a fast emerging market and Plumbee is one of the most innovative and dynamic operators in this space. This new partnership will allow us to accelerate the growth of Endemol's digital gaming business around the world, whilst capturing more of the value created by our entertainment brands," added Lucas Church, Chair of Endemol's Group Commercial Board.
Endemol's digital gaming push includes moving into app publishing, launching with gaming apps based on hit shows Pointless and Deal or No Deal. Recent successes include The Money Drop second screen game, which has so far had over 30 million games played worldwide; The Million Pound Drop app in the UK, which has had over 2.5 million downloads to date; and global brands such as Big Brother.
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