SOURCE:[technologyinvestmentnews] On November 26, 2013, six Atlantic City casinos opened their online gambling websites to the public. New Jersey governor Chris Christie has estimated $1 billion in tax revenue in the first 12 months.
New Jersey is now the third U.S. state - after Delaware and Nevada - to legalize virtual gambling "providing a much-needed boost for a market that has suffered protracted declines," stated a Moody’s analyst report.
According to a Bloomberg Industries forecast, U.S. annual online gambling revenue will reach $23 billion nationwide by 2023.
ISIS Lab (LAB-TSX.V) has developed an award winning social gaming software platform, poised to generate revenue from this macro-economic trend.
Isis CEO, Chairman, and President Daniel Kajouie is an established innovator in this space. He founded 1Gaming - which transformed on-line Bingo into a multi-currency, multi-language online platform in Europe. 1Gaming's platform, was ultimately sold to Unibet through Mariabingo.com for $110 Million
"Very few game developers have the marketing expertise to turn their games into real money," explains Kajouie, "Isis has created a gamblification engine that will take care of that while creating the ultimate user social experience."
Isis has designed a social network which surrounds the gaming experience and lowers the barriers of entry for gamers to monetize their product. Isis intends to leverage the growth in regulated, real-money, online gaming through the gamblification of social games.
For Isis clients operating within fully regulated markets the company offers a turnkey solution including a full commerce application and back office suite. ISIS was the winner of The 2013 Most Innovative Start-up Company of the year at the 2013 GIGSE (Global iGaming Expo & Summit) Conference in San Francisco, California.
"One of the challenges of the $36 billion gambling industry is that it is difficult to differentiate one platform from another," explains Kajouie, "Therefore there is little brand loyalty. Players are constantly shopping for the best deal. The Isis social ecosystem creates stickiness - so that players will exhibit loyalty to one platform."
In an exclusive interview with Technology Investment News, Kajouie stressed that Isis is not itself a game developer, nor does it hold a gambling license. "Each jurisdiction has its own culture its own way of doing things. We are not trying to be 'one-size-fits-all'. Our software is modular and can be adapted to local environments."
On December 2, 2013, ISIS announced that is has partnered with Cladstone, for the launch of ISIS Friends(R) into the United Kingdom's social and real money online gaming market.
According to the press release: "ISIS Friends provides the UK audience with a product differentiator both from a social interaction perspective and a substantial library of games available and integrated at launch. It was built with the ability to support third-party game integrations, cashier support, customer support, social networking, and backend operator support."
"The launch of the exciting ISIS Friends social gaming platform is the culmination of years of work and research," state Kajouie, "Launching with hundreds of games, ISIS Friends(R) members will be able to share, play and wager their favourite games with their friends for the first time within a safe, secure and completely legal environment."
Cladstone, a private Isle of Man company, is an experienced casino management company that has run some of Europe's largest land based and online properties. It is licensed by the Isle of Man Gambling Supervision Commission (GSC) to operate online gambling activities in the United Kingdom.
Mobile and Web developers currently rely on four avenues for revenue: advertising, in-game purchases, freemium (upselling free user to premium features) and game purchases. Isis adds gamblification as the fifth and new revenue stream. For-fun games currently generate in excess of $1.7 billion in revenue and gamblification of these titles is expected to increase that revenue significantly.
With the virality of games and gamification effects, revenues in online gambling increase dramatically. Within a social setting, user acquisition costs are below the market average, while the rates of retention and conversion are significantly higher than the market average.
Average Social game player will spend $78 per annum, while an average converted online gambler will spend more than $800.
"We intend to disrupt the online gaming industry by incentivising game developers on the social side," states Kajouie, "As well as servicing established casinos, our ecosystem will provide talented independent game developers an opportunity to make a living."
Those looking for an exclusive invite to the social tables, go to http://www.isisfriends.com/
Isis Lab is currently trading at .30 with a market cap of $16 million.
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