PlayStudios, a well-established developer of casino apps with real-world rewards, is angling to make an entry into the sweepstakes casino space in 2025. This is very much in line with PlayStudios’ core vision of “becoming a platform company serving all genres,” as announced in the company’s 21 corporate presentation.
The move is expected to stir the competition due to PlayStudios’ notable background in creating multiplayer experiences, live in-game events, mashing up game genres, creating mini games within their existing casino apps, and more. Furthermore, there’s been talk of PlayStudios pursuing mergers and acquisitions, which could give it a leg up in developing more products at a faster rate.
PlayStudios presently boasts a catalog of 13 games that are available on the App Store and Android Play Store, as well as via Facebook. The better half of these games are casino-themed and offer immersive experiences, which may provide the groundwork for innovation within the sweepstakes casino space.
One example is the Pop! Slots mobile app, whose users can navigate a virtual MGM casino setting through an avatar, visiting different slot machines and playing for a chance to win real-world rewards.
PlayStudios’ partnership with Konami has given it access to the Japanese maker’s array of virtual slot machines, which we can expect to be ported over into the new sweepstakes casino. Likewise, PlayStudios has its own bingo, solitaire and blackjack apps, all of which can be tailor-made for sweepstakes play or potentially enriched with live in-game events and rewards.
But despite the experience of successfully running multiple casino apps and creating in-house experiences for casual casino game players, the main question is whether PlayStudios will splurge much of the talent on its sweepstakes casino endeavor?
PlayStudios: Opportunities and Challenges
Since it was founded in 2011 by casino game tech entrepreneurs, PlayStudios has seen strategic investments from Activision Blizzard and MGM Resorts. myVegas has since become the most-downloaded app for iOS, while the company landed a partnership with Royal Caribbean Cruise Line and Konami. The publicly-traded company (NASDAQ: MYPS) has been thriving in its niche and has scaled revenue projections for 2024, by 12%.
The outstanding question is, why enter sweepstakes casinos? For one, industry insiders have commented on PlayStudios’ more conservative approach in the years ahead due to two reasons: a downward forecast in the mobile casino app segment and planned mergers and acquisitions with a $100 mil pocketbook. As a result, the company has discarded some of its games and the workforce behind the same.
Starting a PlayStudios sweepstakes casino is a logical move when it comes to hedging against challenges that seem to be imminent for immersive casino apps, which could potentially suffer from the lack in their diversity of game providers. While sweepstakes casinos may be facing some headwinds themselves, stalwart and up-and-coming outfits respond to an audience that real-money online casinos presently can’t: an underserved market in more than 44 US states.
After all, PlayStudios isn’t the only company that’s looking for shelter in the unusual but viable online casino model. Stake.us launched a couple of years after its international for-money sister site. ProphetX and Novig , once traditional betting platforms, have both embraced the sweepstakes betting model. Playtech, once a leader among equals in the development of online slots and live casino games, has made its live games available to social casinos.
In summary, PlayStudios’ sweepstakes casino gambit is headed in the right direction. The company has all it takes to maneuver against the incumbents. Its planned acquisitions may be geared to improve its entry and perhaps surprise passionate players with a set of immersive experiences like those found on the myVegas and Pop! Slots apps.
Author: Alex Windsor
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