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STATEMENT RE: VELO STUDIO HOLDINGS (VSH) PLANS CREATION OF INDEPENDENT END-TO-END GAMING ONLINE BUSINESS

VELO STUDIO HOLDINGS (VSH), a private equity investment group advised by Velo Capital Partners LLP with significant interest in online gaming studios and related infrastructure, announces the creation of a new entity called Games Global Limited, which after completing all necessary regulatory and licensing requirements, will become the vehicle through which it intends to become a global end-to end online gaming supplier.

The new company will be incorporated in the Isle of Man. It will be run by CEO Walter Bugno, recently of IGT, and CFO Tim Mickley, both highly respected and experienced businessmen from the gaming industry

The intent is to consolidate into Games Global Limited once it has completed all regulatory and licencing requirements, specific VSH assets with a significant number of other external game studio and distribution operations with which it has entered into negotiations, thus bringing to market a significant, well-funded business, capable of serving new and existing customers at an exemplary level, incorporating innovation and best of breed service.

Games Global Limited, will look to create further value via additional acquisitions, opening of new studios, entry into new geographical areas as well as evaluating alternative corporate structures such as listing on the financial markets.

Walter Bugno said: “We are seeing a very vibrant gaming market at present across the world, with many new regulated markets coming online. The creation of a new large-scale independent supply chain that Games Global will be, has not been witnessed for many years.  As new owners VSH and its investment partners will be committed to delivering world class best of breed product and services that ultimately will enhance the end user’s gaming experience. We are extremely excited about the opportunities ahead and will work tirelessly to achieve the significant opportunities in front of us.”

Media enquiries
David Rydell
Buchanan Communications

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RNG Foundry’s Jeremy Coleman: “My Ambition Is to Make Individual Studios Become Well-respected in Very Competitive Marketplace”

IN SUMMARY:

  • “The challenge is always carving a niche for yourself in a very competitive marketplace.”
  • “I hope I can be an earpiece for the studios in the marketplace and provide actionable market insights that drive creativity and relevance in the crowded marketplace we operate in.”
  • “We have seen constant takeovers and mergers in this industry and I do not believe this will slow down anytime soon.”

Jeremy Coleman is an iGaming veteran with a proven track record and a clear focus on elevating the gaming experience for everyone. Improving business has been part of Jeremy’s repertoire as a Senior Account Manager at NetEnt and he has since moved to RNG Foundry, a Gaming Accelerator that seeks to empower promising studio brands that are looking to break ground in the expanding iGaming industry.

Yet, identifying talent and seeing potential are not easily acquired skills and they necessitate years of industry experience which Jeremy has to help shape the future businesses in the industry. To truly appreciate and understand what RNG Foundry is and what it does, and what Jeremy’s role in it is, we have reached out to Jeremy who can provide us with all the details.

In the meantime, if you are thinking of starting a studio or seeking investment, it may be worth your while to head over to RNG Foundry and apply for backing to help shape the future of iGaming, sports, data analytics, or anything that relates to the industry.

Q: What is RNG Foundry and why now? Does the project respond to a concrete need to see accelerators in iGaming or is it your idea of doing things in a new way?

RNG Foundry, in association with Velo Partners, run one of the most established and exciting accelerators in the industry.  The accelerator seeks to attract world-class talent from within the iGaming industry. RNG Foundry currently works with 12 independently owned gaming studios that produce a range of slots content. The idea behind RNG Foundry was created five years ago and we have been working with a number of studios during that time. Now that I have joined the team, we really want to push forward on the commercial side of the business and help the studios push their games out to as many operators as possible.

Q: How does your experience so far in the industry allow you to help as part of RNG Foundry’s team? What are your responsibilities and how do you see to them?

I have been very lucky to have enjoyed fifteen years in the online gaming industry and I have worked for big online operators and market-leading B2B suppliers. I think this blend of experience allows me to view the industry from both the operator and B2B perspective. I can be discussing a project with an operator and see their point of view. Hopefully, this helps me provide the service levels that they require to assist in the growth of their business.

For RNG Foundry, I will be managing the commercial activity for a selection of our studios. This will include the games sales and account management activity for a large number of our customers and for many of the studios it is the first time they have had a dedicated commercial resource to focus on these important areas. I am working very closely with the studios and the RNG Foundry team on the development of each game which is absolutely fascinating. I have learnt so much about what goes into making an online slot game and in particular what makes a game a 10 out of 10 game rather than a 6 or 7 out of 10 game. This insight is in turn, of benefit to the customers who know that I really have an in-depth knowledge of each game that is released.

Q: What do you think would determine whether RNG Foundry is successful as a project?

RNG Foundry has been very successful long before I joined the team and have a very impressive track record of working with studios to produce some very popular games. The team are very talented and have done a great job in developing RNG Foundry to its current level. Most operators would know the names of some of our more established studios like Just For The Win, Spin Play, Northern Lights and Foxium but we have other studios like Pear Fiction, Old Skool and Snowborn who are also producing great games. Many of our studios have only recently joined RNG Foundry but we have seen fantastic results from their first games, whilst some of our studios are currently working on their first games.

Success will be measured by the performance of the games that the studios create. Working with a variety of studios from around the world means that we will be able to create a vast variety of content to suit our global customer base.

My ambition is to make the individual studios become well respected and recognized as producers of entertaining and exciting online slots that appeal to a global audience. I want the Casino Managers to get excited about the next release from their favourite RNG Foundry backed studios because they know that their players will enjoy playing those games.

Q: Do you think the iGaming industry is headed in the right direction and do you see your involvement with RNG Foundry as a way to help with big industry developments?

The iGaming industry is still very young and constantly evolving and I do believe that as a general rule, it is doing what it can to offer a safe and enjoyable form of entertainment for players. So yes, I do think the industry and its major operators & suppliers are all moving in the right direction. Regulation will help guide us in this matter and drive us forward in the right way.

I see some of the bigger industry developments as issues of continued regulation in Europe, the opening up of more US states to online casino games and further merger & acquisition activity as bigger companies snap up specialist providers to complement their existing product/geographical offering. I hope I can be an earpiece for the studios in the marketplace and provide actionable market insights that drive creativity and relevance in the crowded marketplace we operate in.

We have some very talented teams in our studios and they are creating some truly innovative content for their future games. Innovation is a word I am hearing a lot from customers at the moment and this will be a key driver for me in 2021-2022 so I expect the coming year to be a very exciting time for RNG Foundry and our studios.

Q: What do you reckon the biggest challenge for new iGaming and industry companies is?

The challenge is always carving a niche for yourself in a very competitive marketplace. Whether you are a new operator or a B2B supplier, there needs to be something different about your product offering or service to make you stand out. Once a company manages to establish itself, the continuing regulation and taxes in Europe has a big impact on margins and makes trading less profitable.  This will impact on an operator’s bottom line but also the deals that operator might negotiate with its suppliers. This could see some companies stay away from regulated markets and focus on dot com and newer less developed markets in South America, Africa or Asia.

Q: Can a company enter the industry today and stay competitive or are the big names of the day too dominant?

Talent focused on quality and combined with market-leading distribution is a winning formula. This is what RNG Foundry focusses on attracting and developing and is how we see new studios breaking into the marketplace.  For sure it is definitely possible – otherwise we wouldn’t be doing what we do. Being able to develop a loyal customer base quickly will give the newer companies a fighting chance. The key to staying competitive is to try and stay ahead of industry trends and what your competitors are doing. This is not easy, but it will make you attractive to your customers.

We have seen the bigger companies become more dominant in recent years through increased marketing spend to attract more customers or by acquiring smaller companies and competitors. We have seen constant takeovers and mergers in this industry and I do not believe this will slow down anytime soon. The most dominant companies in each sector of this industry are always looking at opportunities to grow their product offering. Quite often, acquiring a specialist provider can be cheaper or quicker than building that product or service for themselves. By bringing this innovation into a big company and sharing that to a wider customer base, it is increasing the dominance of these bigger fish, however, this innovation is what helps keep the industry fresh and exciting.

Q: What is it that you want to ultimately have achieved with RNG Foundry five years from now?

I see the RNG Foundry project and business model as one that will achieve a great level of success over the next five years. We have the right team of people to take RNG Foundry forward to exciting new levels for the company.

For me personally, I want to develop the studios’ names, industry awareness and catalogue of games so that every major operator will be asking for those games. I want the top-performing games to be popular over a long period and maintain a place in the casino lobbies of operators long after their launch because the players enjoy those games.

I would love to see the studios and their range of content really grow and develop over the next five years. Perhaps certain studios will become known as the team that created an industry classic or a particularly innovative game mechanic that takes the operators and their players by storm.

In five years’ time, if I am able to look back and see how well the studios have grown and created a position as a trusted supplier of top quality content, I’ll be very proud indeed.

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