{"id":47436,"date":"2017-03-27T18:00:33","date_gmt":"2017-03-28T01:00:33","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=47436"},"modified":"2017-03-27T17:50:19","modified_gmt":"2017-03-28T00:50:19","slug":"skill-gaming-innovator-gameco-seeks-funding-expansion","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/","title":{"rendered":"Skill-gaming Innovator GameCo Seeks Funding for Expansion"},"content":{"rendered":"

GameCo is betting the future belongs to skill-based casino gaming, and it\u2019s asking potential investors to put their money on it too.<\/p>\n

\"Blaine
Blaine Graboyes, founder and CEO of GameCo, is looking for funding, although he admits that his VGMs have got off to a slow start on the casino floors of Atlantic City. (Image: nabshow.com)<\/figcaption><\/figure>\n

The New York-based company made gaming history when it provided the world\u2019s first ever commercially-operational skill-based casino gaming machine, \u201cDanger Arena,\u201d to Harrah\u2019s Atlantic City<\/a> in November, and now its seeking a new funding round to aid expansion.\u00a0 \u00a0<\/span><\/p>\n

The company expects to roll out about 10 games this year, including a new basketball game called \u201cNothin\u2019 but Net\u201d and a title still in development based on Terminator 2: Judgment Day.<\/p>\n

\u201cWe are just starting on our next round now with the target of raising $20 million to $30 million depending on market conditions,\u201d co-founder and chief executive officer Blaine Graboyes told the Las Vegas Review-Journal<\/i> this week.<\/p>\n

Feeling Like the Cool Kids<\/b><\/h2>\n

GameCo\u2019s skill-based gaming terminals, known as video gaming machines (VGMs), balance a financial model similar to that of traditional slot machines with the kind of games young people like to play, like first-person action, racing, fighting and puzzle games.<\/p>\n

The big difference is that, while previously everyone had to have an equal chance for an equal payout from traditional slots, by law, VGM\u2019s can offer variable payouts, or better payout odds for skilled players.<\/p>\n

Casinos hope it will make the casino floor \u201ccool\u201d again and win the hearts of the millennial generation, which holds no truck with slots. According to the Association of Gaming Equipment Manufacturers, the amount wagered on slots machines<\/a> has fallen from a 2007 high of $355 billion to $291 billion in 2014.<\/p>\n

\n

\u201cGamers also have a propensity for gambling and they don\u2019t have any place to get together and socialize,\u201d Graboyes said. \u201cThe opportunity was to create a destination at a casino that makes gamers feel like the cool kids.\u201d<\/strong><\/p>\n<\/blockquote>\n

Slow Start for VGTs<\/b><\/h2>\n

It\u2019s way to early to draw conclusions about the success of VGTs, but they have, thus far, failed to set the gaming floor alight. Danger Arena has yielded below the house average, said Graboyes, while the company\u2019s second game, \u201cPharoah\u2019s Secret Temple,\u201d has fared slightly better, with some machines hitting the average.<\/p>\n

These things take time to catch on, though, and Graboyes feels the decision to use a console on Danger Arena may have put some customers off.<\/p>\n

He noted, however, that VGM\u2019s have been more successful when placed in different areas from slot machines; naturally, since they\u2019re targeting different demographics.\u00a0 \u00a0 \u00a0<\/span><\/p>\n

\u201cIt is only a matter of time before there is a video-game casino,\u201d he said. \u201cWe are driving ideas for it and we would hope to be a key partner of the first one.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

GameCo is betting the future belongs to skill-based casino gaming, and it\u2019s asking potential investors to put their money on it too. The New York-based company made gaming history when it provided the world\u2019s first ever commercially-operational skill-based casino gaming machine, \u201cDanger Arena,\u201d to Harrah\u2019s Atlantic City in November, and now its seeking a new […]<\/p>\n","protected":false},"author":42,"featured_media":47437,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,18],"tags":[],"acf":[],"yoast_head":"\nSkill-gaming Innovator GameCo Seeks Funding for Expansion<\/title>\n<meta name=\"description\" content=\"VGM make GameCo and it' skill-gaming inventor are seeking funding to further develop their brand throughout the gaming industry.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Skill-gaming Innovator GameCo Seeks Funding for Expansion\" \/>\n<meta property=\"og:description\" content=\"VGM make GameCo and it' skill-gaming inventor are seeking funding to further develop their brand throughout the gaming industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-28T01:00:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-03-28T00:50:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/1496514776001_4736543237001_4734672049001-vs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"286\" \/>\n\t<meta property=\"og:image:height\" content=\"204\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/\",\"url\":\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/\",\"name\":\"Skill-gaming Innovator GameCo Seeks Funding for Expansion\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/1496514776001_4736543237001_4734672049001-vs.jpg\",\"datePublished\":\"2017-03-28T01:00:33+00:00\",\"dateModified\":\"2017-03-28T00:50:19+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"VGM make GameCo and it' skill-gaming inventor are seeking funding to further develop their brand throughout the gaming industry.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/skill-gaming-innovator-gameco-seeks-funding-expansion\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/1496514776001_4736543237001_4734672049001-vs.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/03\/1496514776001_4736543237001_4734672049001-vs.jpg\",\"width\":286,\"height\":204,\"caption\":\"Blaine Graboyes, founder and CEO of GameCo, is looking for funding, although he admits that his VGMs have got off to a slow start on the casino floors of Atlantic City. 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