September 12th 2000
At a time where many established internet companies are struggling to raise further capital to survive , eight month old Sydney-based game and content design studio Next Generation Entertainment have managed to pull off a venture capital trifecta by raising a further $6 million from a number of high profile local and U.S.-based venture funds .
Locally, the prestigious Allen & Buckeridge group and the Tinshed angels have both tipped in for an equity stake in the internet games maker, while original backers , Los Angeles-based Entertainment & Media Ventures has also bought in for another round in order to keep its shareholding topped up.
Next Generation Entertainment CEO and co-founder - Mr. Tony McAuslan said that he was "very pleased with both the financial result and the added value that these highly experienced groups will bring to our Board".
Mr. McAuslan went on to say that the successful conclusion of the current funding round had "vindicated our contention that our management team , breadth of gaming industry experience and market penetration offered one of the best business models operating on the internet today".
When asked if the Federal Government’s current push for a moratorium on online gaming had affected Next Generation’s business model, Mr. McAuslan said that "Since Next Generation’s inception, our focus has been on the wider global market" and that "Australia is a great place to carry out development, but 90% of our customers are located in Europe, Asia or off the coast of North America, consequently, any change to the status quo here in Australia will have a minimum impact on our plans".
Mr. McAuslan added that "while it is unfortunate that the Australian Government doesn’t have the foresight to see the benefits of a regulated online gaming market, over forty other countries are starting to get the message and this is being reflected in the number of deals we are currently doing offshore".
Next Generation Gaming draws much of its expertise from the land-based gaming market , where founders Tony McAuslan and Mario Castellari both held senior executive positions with some of the world’s largest gaming machine manufacturers including ARISTOCRAT and INTERNATIONAL GAME TECHNOLOGY, and currently supply games and gaming content to both the online and land-based wagering and casino markets as well as content for the WAP, console, internet and interactive T.V. markets.
The company has stated that the additional capital will be used to fund ongoing development and its expansion plans into the U.S. and European games markets.
In related news, Next Generation Entertainment (Aust) Pty Limited has announced the appointment of Mr. Brian McKay to its Board of Directors.
Mr. Mckay was most recently Senior Vice President and Corporate Counsel for Reno-based International Game Technology , the world’s largest manufacturer of gaming machines .
Mr. McKay , a well respected lawyer , is also a former Attorney General of the State of Nevada , where he served two terms .
In announcing the appointment , Next Generation Entertainment
CEO – Mr. Tony McAuslan said that "In my opinion, Brian McKay has been
one of the most influential people to have recently worked within the North
American gaming market and we are delighted to have obtained his services
for our Board . I anticipate his enthusiasm , commercial acumen and standing
within both the Gaming and broader business community will be a major driving
force behind our current expansion plans into the U.S. entertainment market"
Next Generation Entertainment Pty Limited are currently the world’s largest independently owned game design studio specialising in interactive games for online casinos .
Years of research in the land-based gaming market have enabled the company’s staff to have gained an in-depth knowledge of player psychology , mathematics and game preferences , giving it a unique competitive advantage over other games designers .
The company currently has three divisions producing games and related content for the wagering , interactive and promotional games markets and holds patents on unique games and business processes related to gaming.
Contact details :
Chief Executive Officer
61 2 9299 9005
Mobile 0409 56 777 8
Email – email@example.com