WMS Further Expands Interactive Gaming Capabilities with Acquisition of Phantom EFX
June 15 2012 - 7:30AM
Business Wire
WMS Industries Inc. (NYSE:WMS), a global leader in the design,
manufacture and distribution of games, gaming content and gaming
machines, announced today that it has acquired Genesis
Communications Inc., d/b/a Phantom EFX, a leading publisher and
developer of interactive casino and slot-based games for social,
casual and mobile gaming entertainment. The tuck-in acquisition of
privately held Phantom EFX further expands WMS capabilities in
online content development and distribution across the rapidly
expanding social, casual and mobile channels. Financial terms of
the transaction were not disclosed.
Orrin J. Edidin, President of WMS, commented, “For more than a
year, WMS has collaborated with Phantom EFX to successfully create,
develop and launch entertainment slot games for digital, mobile and
retail platforms. Over this time we have established a close
relationship with the entire Phantom EFX team and recognize the
value of their entrepreneurial passion, unique culture and creative
abilities that have positioned WMS as a leading publisher of casino
games for the retail channel and broadened our capabilities to
offer an impressive range of social and mobile executions. The
experience and talent of the Phantom EFX team enables them to
quickly and efficiently design and develop high-quality slot games
for online and casual applications. We are excited to welcome the
Phantom EFX team members to the WMS family as together we will
focus on creating the industry’s most creative and comprehensive
suite of interactive products and capabilities.”
Aaron Schurman, CEO of Phantom EFX, said, “With similar creative
philosophies and innovative cultures, it is exciting to imagine the
broad opportunities that WMS and Phantom will address with unique
content and solutions. The combination of our entrepreneurial
creativity and WMS’ culture of innovation establishes a framework
for tremendous potential and success going forward. Since our first
foray into the casual entertainment gaming world in 2000, we’ve
learned to expertly create interactive slot game experiences that
truly engage online and casual players. The valuable partnership
developed through our work with WMS over the past year has been
extremely fruitful, providing us with a strong bond that will only
strengthen as we become a single team.”
Edidin added, “Global gaming markets are rapidly moving toward
content convergence and multi-channel distribution as consumers
demand ready access to their favorite content across multiple
platforms. With our success and experience in online and
interactive gaming – through our award-winning UK-based
JackpotParty.com online casino and its broad scale application with
customers as was demonstrated through our recent agreement with
Groupe Partouche for a WMS-hosted Belgium online casino; our
capabilities and experience for integrating and distributing online
gaming content through the Jadestone team; the unique and
player-appealing gaming features and capabilities provided through
our Player’s Life® Web Services; our popular Lucky Cruise™ social
casino found on Facebook; and our classic slot content for mobile
and other casual play users – WMS has established a successful
online presence and a proven record for responsible gaming and
compliance in regulated markets. Our more-than-60-year legacy of
creating great games, which we’ve now proven on multiple online,
social, casual and mobile platforms, positions WMS as a premier
partner for casinos and gaming companies seeking a proven and
integrated strategic approach. By creating a full complement of
interactive solutions, whether for online wagering, social, mobile
or casual gaming, we are focused on supporting our customers as
they engage their player base beyond the four walls of the casino.
Customers can count on WMS to evolve with them and help them move
forward with confidence to stay connected to their players,
wherever and however players find it most convenient to seek out
gaming entertainment today and in the future.”
About Phantom EFX
Founded in 1998, and headquartered in Cedar Falls, IA, Phantom
EFX is a leading multi-platform developer and publisher of
interactive entertainment software that delivers engaging,
ultra-realistic experiences to consumers. With a talented and
experienced team focused on producing titles that are fresh and
innovative, entertaining and graphically superior, Phantom EFX has
an extensive array of products released on a broad range of
platforms, including PC and tablet, social gaming (Facebook), iOS
and Android mobile, web-based and console platforms and sold
through an expanding distribution system that includes retail
stores, online e-commerce and in-game digital delivery (both
downloadable and instant play). For more information about Phantom
EFX and its products, please go to www.phantomefx.com.
About WMS
WMS serves the gaming industry worldwide by designing,
manufacturing and marketing games, video and mechanical
reel-spinning gaming machines, video lottery terminals and in
gaming operations, which places leased participation gaming
machines in legal gaming venues. The Company’s online iGaming
business develops and markets products, services and end-to-end
solutions that address global online wagering and casual gaming
opportunities. WMS is proactively addressing the next stage of
casino gaming floor evolution with its WAGE-NET® networked gaming
solution, a suite of systems technologies and applications designed
to increase customers’ revenue generating capabilities and
operational efficiency. More information on WMS can be found at
www.wms.com or visit the Company on Facebook, Twitter or
YouTube.
This press release contains forward-looking statements
concerning our future business performance, strategy, outlook,
plans, products and liquidity. Forward-looking statements may be
typically identified by such words as “may,” “will,” “should,”
“expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,”
“project,” and “intend,” among others. These forward-looking
statements are subject to risks and uncertainties that could cause
our actual results to differ materially from the expectations
expressed in the forward-looking statements. Although we believe
that the expectations reflected in our forward-looking statements
are reasonable, any or all of our forward-looking statements may
prove to be incorrect. Consequently, no forward-looking statements
may be guaranteed. Factors which could cause our actual results to
differ from expectations include (1) delay or refusal by regulators
to approve our new gaming platforms, cabinet designs, game themes
and related hardware and software; (2) changes in regulations or
regulatory interpretations that may adversely affect existing
product placements or future placements; (3) an inability to
introduce in a timely manner new games and gaming machines that
achieve and maintain market acceptance; (4) a decrease in the
desire of casino customers to upgrade gaming machines or allot
floor space to leased or participation games, resulting in reduced
demand for our products; (5) a reduction in capital spending or
interruption in payments by casino customers associated with
business weakness or economic uncertainty that adversely affects
our customers' ability to make purchases or pay; (6) a
greater-than-expected demand for operating leases by customers over
outright product sales or sales financing leases that shift revenue
recognition from a single period to the term of such operating
leases; (7) future costs relating to our planned restructuring and
other charges that may be higher than currently estimated,
including additional charges related to actions at a later time not
presently contemplated; (8) ability to realize in full, or part,
the anticipated savings and expense reductions from restructuring
and lower staffing; (9) adverse affects on product development,
innovation and the ability to retain and attract key personnel
following the restructuring and reorganization actions; (10) a
reduction in play levels of our participation games by casino
patrons, whether due to economic conditions or increased placements
of competitive product; (11) inability of suppliers of key
components to timely meet our requirements to fulfill customer
orders; (12) increased pricing or promotional competitive activity
that adversely affects our average selling price or product
revenues; (13) a failure to obtain and maintain our gaming licenses
and regulatory approvals; (14) failure of customers or players to
adapt to the new technologies that we introduce in new product
concepts; (15) a software anomaly or fraudulent manipulation of our
gaming machines and software; (16) a failure to obtain the right to
use or an inability to adapt to rapid development of new
technologies; (17) an infringement claim seeking to restrict our
use of material technologies; (18) risks of doing business in
international markets, including political and economic
instability, terrorist activity and foreign currency fluctuations;
and (19) the unfavorable outcome of any legal proceedings in which
we may be involved from time to time. These factors and other
factors that could cause actual results to differ from expectations
are more fully described under “Item 1. Business”, “Item 1A. Risk
Factors” and “Legal Proceedings” in our Annual Report on Form 10-K
for the year ended June 30, 2011, and our more recent reports filed
with the U.S. Securities and Exchange Commission.
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