GameCo, an NYC startup, recently launched a video game casino that promises to bring proper gaming to casinos with their proprietary arcade-style cabinets. The games are skills-based and provide an entirely new way to spend time at the casino.
The CEO of the game-based gambling platform, Blaine Graboyes, recently sat with AlleyWatch to discuss the product. During that exchange, readers learned that GameCo’s Video Game Gambling Machine endeavors to engage a new generation of casino customers.
An individual’s skills will help to determine earnings and payout. At the same time, casino-based economics were taken into consideration. GameCo rose to the challenge of addressing casino’s greatest issues, including the fact that their favorable demographics are aging, as well as stagnant slot revenue.
Graboyes was inspired by his visits to the casino floor when hosting events. He began researching casino spaces and slot machines. He learned that slot machines, which draws 57 percent to 80 percent of the casino’s revenue, faces the challenging of failing to attract young users. He began to investigate game concepts, collecting feedback, running casino nights, and examining the nature of video game gambling.
While VGM games provide a new user experience to clients, they use existing slot machine hardware and software. The VGM games are real video games, and casinos are a prime position to leverage amenities and properties to engage in an untapped market: video game enthusiasts. They won’t have the functionless whistles, blinking, and spinning reels of games’ present.
According to AlleyWatch, Graboyes said, “VGM games are single-player experiences and typically 15-60 seconds in length with familiar titles from top entertainment companies and publishers featuring various genres and themes including first-person action, sports, racing, fighting, platformers, puzzle games, and more.”
“Paranormal” brands, Steve Aoki from DJ Kid Millionaire LTD, CBS’s “Star Trek,” and “Terminator 2: Judgment Day,” as well as Paramount’s “Mission Impossible,” are among the entertainment IP companies and major game developers to partner with VGM for licensing.
GameCo is the first to bring together the world of casino play and video game engagement. With their sights set on the multibillion-dollar market, they’re expecting to take a significant bite of the pie. They’re projecting that their skill-based games will fetch $4.3 billion in the U.S. within five years and $6.2 billion internationally by 2021, respectively.
“GameCo does have a unique approach to our game development strategy and business model,” said Graboyes. “Most gaming equipment suppliers utilize internal studios for content development. However, GameCo has pioneered a unique “open platform” model whereby we make our platform available to game developers who then produce or “port” games to our platform.”
Game developers will be allowed to focus on what they do best, which the GameCo’s VGM Platform will deal with the gambling components, user interaction, casino economics, and reporting. With this, they’re able to spark innovation and offer new opportunities to publishers and game developers, alike.