MGT Finalizes Deal for Avcom
Nov 16, 2013
MGT Group Grows Again as Avcom Are Taken Over
MGT Capital Investments, the mobile casino gambling and social gaming investment company, are all set to finalize a deal for New York City based social casino games developer Avcom. The deal is the latest in a series of acquisitions the company has made, as it looks to make inroads into a growing mobile marketplace.
Indeed, this acquisition will allow MGT access to Avcom’s proprietary mobile casino software, including their secure gaming and sophisticated analysis tools. The company will also be renamed, and will trade under the name MGT Studios, where it will be in charge of MGT’s online and gaming properties.
With legal online casinos starting to appear in states across the US, mobile casinos are all set to take off big time across the country, and the opening of this major market has sparked a series of takeovers as major companies attempt to boost their chances of success. As such, it’s as important for MGT that Avcom’s team came with the deal – founder Jeremy Avin will become the new general manager once the deal is complete.
MGT CEO Robert Ladd added: “The acquisition of Avcom, including its leadership team, places MGT in a strong position to capitalise on the popularity of the social casino industry as well as adding tremendous value to our other gaming properties.”