Gaming Realms targets RMG push with Quick Think Media buy
Acquisition of affiliate and media network designed to support real-money strategy with 2014 launches planned
Gaming Realms has acquired bingo affiliate and marketing agency Quick Think Media (QTM) for £2.2m as it seeks to add to the launch of Bingo Godz with further real-money gaming titles in 2014.
The purchase of QTM adds to the acquisition of social casino and bingo company beJig “ founded by the same management team as QTM “ earlier this year, as well as the mobile developer AlchemyBet.
Co-founders Tom Gooding, Simon Smiley and David Hampstead have all retained their shares in the affiliate for a minimum of 18 months and will work alongside Gaming Realms as it prepares to develop and launch new casino and bingo titles across multiple platforms in the New Year.
Gaming Realms’ first real-money product Bingo Godz launched in August, followed by an aggressive ad campaign to boost the new brand.
Speaking to eGR, Gooding said that while the acquisition would have little impact on the day-to-day running of QTM, the deal would provide the business with a “shot in the arm”.
“Coming under the Gaming Realms umbrella will provide us with more flexibility moving forward, so it’s an exciting development,” Gooding added.
Gooding also said that QTM’s customer acquisition network would aid a string of real-money launches planned for next year and beyond, with Gaming Realms eyeing the mobile market in particular.
Gaming Realms cited QTM’s customer acquisition capabilities as a reason for the purchase, while adding the company would bring a significant revenue stream to the business. The affiliate posted a profit before taxation of £228,000 in the year ended September 2013, up 18% year-on-year.
Gaming Realms, established by Cashcade founders Patrick Southon, Collins and Michael Buckley, commenced trading on the Alternative Investment Market earlier this year after completing a reverse takeover of technology company Pursuit Dynamics.
Gaming Realms also announced the proposed placing of approximately 11.5 million shares at 21p per share, equivalent to 7.3% of the Group’s enlarged share capital.