New social gaming/gambling venture Gaming Realms part of is to begin trading on the London AIM Stock Market tomorrow morning. The new social gaming venture set-up by ex Foxy Bingo founders Simon Collins and Patrick Southon consisting of a £12m reverse takeover of social gambling operators Gaming Realms, BeJig and Alchemy Bet will begin trading on the Alternative Investment Market, as the company looks to raise investment for new products and marketing operations in order to compete in the social gaming sector.
Gaming Realms will operate under the umbrella arm of AIM listed Cambridge Technologies. Gaming Realms was founded earlier this year by Collins, Southon, ex Cashcade chairman Michael Buckley and fellow Cashcade veteran Noel Rowse. The new venture will consist of the following social gaming brands – Bejig’s Avatingo popular bingo application on Facebook. and mobile gambling operator AlchemyBet. These products will now operate under the Gaming Realms brand.
BeJig and AlchemyBet were the main investments of igaming venture capital firm NewGame Capital, the venture capital firm had been advised by Simon Collins and Patrick Southon and both operators have received investment from bwin.party.
Gaming Realms will also see a change in management as Collins and Southon will bring their own team – with former CFO of Cashcade limited Mark Segal joining the new venture.