- Subsidiary 359 Mobile UK Limited retains Joelson JD LLP as legal advisor for planned mobile games expansion into UK and European markets
- Online gambling market projected to reach $1 trillion by 2021, with mobile devices driving majority of growth
- Shift from physical games to online, mobile gaming expected to gain momentum with rising trend of social media gaming
- Global mobile games market closed out 2017 with estimated $50.4 billion in revenue
Software development and mobile solutions company Consorteum Holdings, Inc. (OTC: CSRH) is on the cusp of making significant progress in the mobile gaming and gambling sectors that are growing rapidly in the UK and European markets. Mobile gaming is attracting more users as social media and online entertainment penetrate every aspect of society. In fact, mobile games generated an estimated $50 billion in revenue in 2017, according to a report issued by Newzoo, a leading provider of market intelligence covering the global games, esports and mobile markets (http://nnw.fm/77O0v). Online gambling is also expected to soar, with Juniper Research reporting that gambling activities are increasingly migrating to the online world and estimates calling for more than $1 trillion to be wagered online in 2021 (http://nnw.fm/uuS9B).
As a mobile platform company focused on “delivering compliant complex mobile-based transactions,” Consorteum is developing its software and mobile publishing resources for a variety of mobile offerings – including the online and mobile gambling industry. A recent announcement of an agreement with XpertX, Inc. to release the Wild Spots Bingo® mobile game in the UK by mid-2018 and in European markets later in the year (http://nnw.fm/UhJ8e) reflects Consorteum’s expansion strategy. Wild Spots Bingo will be integrated into the Universal Mobile Interface™ (“UMI”) gaming platform of 359 Mobile Inc., offering all of the fun and entertainment of classic bingo in a pattern-based, house-banked game.
“We are very excited to have Wild Spots Bingo released later in the year as the first wager-based mobile game offered on our UMI platform,” Consorteum CEO Fielding stated in a news release. “The UK and European market is a perfect target market for this offering. For years, industry analysts have cited the increasing growth of online gaming activity in the UK and Europe, including casino games, poker and especially bingo.”
In a move to make certain its approach to mobile gaming and online gambling meets regulatory guidelines, Consorteum subsidiary 359 Mobile UK Limited has retained London-based legal firm Joelson JD LLP. Fielding said that he and the 359 team are keenly aware of the many legal and regulatory issues CSRH must work through in order to be a solid player in this increasingly lucrative UK market space (http://nnw.fm/uA9Nz). Joelson is well known around the world for its corporate and specialist advice to the gambling industry. The full-service law firm has been shortlisted for a 2018 Global Regulatory Award by GamblingCompliance, a leading provider of independent, legal, regulatory and business intelligence to the international gambling industry (http://nnw.fm/0SZVd).
For more information, visit the company’s website at www.Consorteum.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.networknewswire.com
New York, New York