Virtue Fusion Boss Upbeat About Online Bingo Future - 03-15-10 |
March 14 - Bob McCulloch, the Chief Executive Officer of
online bingo
operators, Virtue Fusion, said this week that he believes there is still
plenty of room for growth in the virtual bingo market.
Online bingo players show no sign of letting up their favorite form of
entertainment, and this is clearly shown through the record number of players
making their way to popular bingo sites, and he huge jackpots up for grabs.
The Alderney based Virtue Fusion is only one example of how fast this
industry is growing and a testament to its value. Last year, Playtech bought out
the group for a record £36 million, joining other industry consolidations
such as Party Gaming's purchase of Cashcade (including Foxy Bingo) and 888's
purchase of Wink Bingo.
"After the developments we have seen over the past few years, it is somewhat
inevitable that industry commentators are questioning if the UK market has
started to reach maturity," said McCulloch.
"It might now be worth hundreds of millions of pounds but there is still room
for growth for online bingo," he said. "There is certainly more scope for new
licensees on the network, though it is likely this will at the expense of some
of the smaller and less creative operators."
McCulloch is convinced that Virtue Fusion's sale to Playtech would only take
the network much further in terms of business scope.
"We are constantly innovating to keep ahead, which is why you have recently
seen deals such as ours with Endemol and the launch of our groundbreaking
integrated social networking feature, and there are plenty more to come," he
said. "Playtech has similarly focused on innovation and the deal also brings
huge benefits to our network with the largest library of side games in the
gaming industry."
The Virtue Fusion network currently incorporates over 20 licensees, including
some of the big names in the industry such as Ladbrokes, Mecca Bingo,
William
Hill and others.
"Despite all the talk of growth and maturity, it's also fair to say that we
have only tapped into a very small part of the global bingo market," said
McCulloch. "That said, it is important to tread carefully in newly regulated
markets - and it is also good to have a polished crystal ball!"
Click on the image to visit
Mecca Bingo.
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