A £70m listing looks a good bet for 24/7 mobile gaming promoter
A MOBILE gaming promoter is betting an Aim float will help it to capitalise on the growing use of smartphones and tablets to play casino games.
Based in Amsterdam, 24/7 Gaming Group provides services under the brand name WannaGaming.
It has appointed Westhouse Securities as adviser and broker, but it is not raising new money and will float with a market value of £60-70million.
Players make deposits online at WannaGaming via their mobile device and can then place wagers across all games in its mobile casino. Malta-based Nexigames is the provider of all the games.
The group expects rising demand for cross-border gaming will further erode in-country or in-state limits to gaming in the next five years, enabling it to access more markets.
Chief executive of 24/7, Rogier Smit, said: “The move to list on Aim is an important and logical step as we increase our marketing investment in existing markets and expand into new territories."