What Is The Market Telling Us?
Added: April 28, 2014
Did you miss the recent news coming from the financial markets in New York recently about online gaming in the United States with real money? The news was all about a company referred to as Majesco Entertainment Company (COOL). Turns out that Majesco is throwing their hat into the online gambling arena. In a recent press conference, Majesco announced a ground breaking strategic partnership. Shortly afterwards, the stock of Majesco jumped over 14 percent in one day.
However, Majesco is not just dipping their toe into the water. Oh no, not at all. Majesco is going at this in a big way. How so? What if you found out that a storied brand in the gaming world, a brand that has been around for decades has suddenly decided to pair up with Majesco to launch what they refer to as an e-gaming platform.
How is this going to play out? This so called “e-gaming” platform will be focused around the perennial Atari Games that many online casino players grew up with. These are games such as Pong, Missile Command, Tempest, Centipede as well as the long time favorite Asteroids. Majesco is setting up this recently inked agreement to run through its Pariplay network. Pariplay is a joint venture arrangement of Majesco.
When is your favorite Atari game from yesteryear slated to show up at your favorite online casino? As of now, Majesco representatives are all in agreement that the fourth quarter of 2014 is a confirmed launch date. Speaking up about this new arrangement at an press conference, Gili Lisani, the CEO of Pariplay reminded everyone that…” Atari was actually one of the early pioneers in the interactive entertainment space with tremendous brand equity.” On the other side, the CEO of Atari Inc., Mr Fred Chesnais spoke his piece, saying that “…Pariplay’s experience with real money gambling technology makes them an ideal partner.”
Well there you have it straight from the top. But what does this mean for online casinos and online gambling in the United States? Remember the beginning of the article when it was pointed out that the stock of Majesco jumped on this news release. Financial market pundits like to make the case that the market knows best. If that is true, what is the market telling us here? It would seem as if the market is judging Majesco’s move as a great idea. Perhaps this is simply another tell tale indicator for the seemingly inevitable legalization of online gambling in the United States.