Online gambling venture finance firm NewGame Capital has sold off its entire stake in London AIM listed igaming operator Gaming Realms. NewGame Capital backed by bwin.party and led by ex Cashcade Gaming founders Patrick Southon and Simon Collins informed the markets on Friday 20 February.
The sale of its 10.5% share capital in Gaming Realms, had driven by the decision of main NewGame investor bwin.party to sell its non-core gambling assets. The VC firm has placed its holding with new and existing shareholders.
Among the Gaming Realms shareholders who have increased their stake in the AIM listed company are Chairman Michael Buckley, who increased his holding to 9.22% of the issued share capital by purchasing an additional 1.4 million in company shares.
Company board members Jim Ryan (ex- Party Gaming CEO) and Atul Bali (ex GTECH CEO) purchased 1 million in shares as NewGame and bwin.party’s share capital were divided up amongst interested parties.
Having invested in the igaming operator from its inception, Gaming Realms Chairman Michael Buckley thanked bwin.party for their support
“We are pleased with the level of demand for the company’s shares and expect the broader shareholder base to increase the free float and provide additional liquidity to our shareholders”.
Earlier this month Gaming Realms stated that it would continue to focus its expansion for the UK igaming market, as the operator launched a new TV advertising campaign for its Spin Genie Brand