Codeta plans several new launches after latest round of funding

Codeta plans several new launches after latest round of funding

Friday, March 16, 2018 Posted by Joseph Streeter
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The group revealed unique developments for 2018

Live table games operator Codeta has outlined ambitions to continue pursuing innovations in the year ahead after the completion of its latest funding round, raising €600k through convertible loan financing.

Having not only forged a strong reputation within the live gaming sector, but also boasting a selection of other table games and slots from NetEnt, Play’n GO, Aristocrat, Novomatic, NextGen, Microgaming and others, it has also now revealed that several new launches are in line for the first half of the coming year.  

Codeta Chairman Edward Ihre told TotallyGaming.com: “We have several product innovations in the pipeline for the first half of the year. They are unique to us, and have been developed via lengthy consultation with, and feedback from, our players. They will help make the Codeta experience more personal, allow players to develop their skills, while also recognising and rewarding players for their achievements. We are on track to launch the first batch of new products before the summer.  

Detailing how the round of funding will also be utilised in order to bolster the group’s marketing presence, he added: “Codeta launched with its sights firmly set on the live casino sector; we identified the vertical as having the highest growth potential, and with the least number of competitors. That was two years ago, and today other operators are looking to get in on the action and leverage the success Codeta, and live casino in general, is enjoying.”

The cash injection, which is part of the operator’s third funding round having previously raised €4.3m since its launch in 2016, will also be used to boost the group’s marketing presence and to bankroll an uptick in VIP players that the operator has acquired since its recent re-design.

The convertible loan sees investors provide a loan and the accumulated interest, along with the loan itself, is converted into stock once the share emittance has occurred.

Totally Gaming says: The live casino market is a thriving one, however it’s also a highly competitive one. Therefore, for operators like Codeta gaining the edge with product innovation and marketing presence is of the utmost importance, as the group looks to continue building a strong footprint in the live gaming sector.

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