Vegas Wireless Entertainment Mobile betting application services provider bought by Bico Inc
Bico, California situated advertising and content publisher had purchased Vegas Wireless Entertainment (VWE) last week during the 12th of February in order to get into the mobile betting market with a new B2B service which will let over 1,800 international online casinos a cost-effective software answer, to offer mobile betting application without the need for their individual development employees. VVE is a wireless gaming services supplier focusing in custom-made solutions for the online gaming industry.
Bico's President and CEO Richard Greenwood had stated after the signing of the agreement the following: "The deal would allow Bico to take advantage of the fast rising market of mobile betting products which will let a global viewers, in spite of service supplier or phone producer, to download and play a broad selection of casino games, in addition to play a part in mobile lotteries and sports events betting."
VEW's president Chris Feges had commented afterwards "We are very thrilled by this opportunity as the mobile betting market is generating over 5 billion USD in revenues…VEW is about to become a market leader."
VEW's shareholders will be given shares representing about 80% of BICO's outstanding shares as calculated on a wholly diluted basis.
Mike Mendelson. Guest Editor - 19th of February, 2006
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