Video game publisher Majesco Entertainment has announced plans to establish a new company, GMS Entertainment, in order to pursue a presence in online casino gaming.
Majesco will invest a total of $3.5 to $4.5 million, depending on GMS' future financial performance, for a 50 percent interest in GMS. GMS will then acquire the casino gaming companies Orid Media and Pariplay, whose owner will maintain the other 50 percent interest in GMS.
Orid Media develops online and mobile casino games and Pariplay is a licensed online gambling operator.
Jesse Sutton, chief executive officer of Majesco Entertainment, will serve as the chairman of GMS Entertainment.