The management team at Canadian public company FunTech, led by Chief Executive Officer, Lorne Abony, has clinched yet another deal allowing it to take over one of the company’s major competitors. The agreement, announced just this week, allows FunTech to acquire WordlWinner.com for a whopping $23 million.

Using the SkillJam Technologies subsidiary, Abony said that his objective in acquiring WorldWinner.com was to strengthen FunTech’s position in the highly competitive and rapidly expanding casual skill gaming market.

An average of 350,000 games are played on WorldWinner each day, which produced yearly revenue, for the twelve months ending December 31, 2005, of $10.67 million. In January of this year, WorldWinner reported fourteen million players. The company says it awards millions of dollars in prizes each month.

Some time later down the line, WorldWinner.com will be integrated with the SkillJam property, but for now WorldWinner’s products will continue under its established brand.
“The acquisition of WorldWinner is a significant strategic achievement for FUN Technologies. WorldWinner was until now our largest competitor and by consolidating the two businesses we will achieve significant operating efficiencies, leverage and synergies,” Abony said.

WorldWinner’s President and CEO, Stephen Killeen, commented, “We are proud to be a part of this merger with FUN Technologies. The consolidation of the two organizations will result in a global skill-gaming powerhouse.”

Posted on: March 27, 2006

Add This Gambling Article To:
Del.icio.us	Digg	Google	Spurl
Furl	Simpy	Y! MyWeb

Back to March 2006's archive
Back to latest News