MGT partners with M2P Entertainment to enter the US market
Online and mobile gaming investment vehicle MGT Capital Investments has linked up with M2P Entertainment to offer the games developer’s skill-based gaming platform to players in the US market by the end of the year.
Since its launch in 2012, M2P has delivered more than 12 million installed apps of games created for Facebook, and it is currently offering over $200,000 (€146,278) per week in prize money through its flagship property.
The joint venture between MGT subsidiary MGT Studios and M2P will leverage this model by offering online casino games to audiences of MGT’s existing properties and to over two million current US social users of the M2P platform, who will not be able to compete for real money.
Legal players in approved US states can compete in head-to-head games or tournaments to win cash prizes in a number of games genres, including puzzles, sports, strategy and cards.
The partnership will incorporate all technical and marketing talents from both firms in order to enhance the game offerings and make updates for US players.
The deal also includes exclusive rights to North and South America, as well as equity cross-investment in the respective parents companies.
“We have had much success in the European market and believe now is the perfect time to expand to the United States,” M2P’s director Bjorn Kaufmann said.
Jeremy Avin, general manager of MGT Studios, will lead the new venture under the brand of MGTPlay.
MGT Studios was formed last month following MGT’s acquisition of social casino games developer Avcom, which Avin founded,
“We expect to hit the ground running given the head start afforded by built-in liquidity, as players can be matched worldwide,” Avin said.