Tau Gaming set "multi-million pound valuation" target
Co-founder Jamie Walters aims big as Tau Gaming prepares for imminent launch of first online casino brand
Former Metro Play managing director Jamie Walters said he is aiming for a “multi-million pound valuation” target with his new egaming business Tau Gaming as the firm prepares to launch its first online casino brand.
Tau Gaming is expected to release its first casino product in the next few weeks, followed by a new bingo brand in Q1 2015, both of which will be powered by 888’s B2B Dragonfish network.
Speaking to eGaming Review, Walters said he believed partnering with Dragonfish would enable the firm to quickly scale-up its nascent bingo and casino business.
“We have big ambitions with respect to growth and believe we have a very strong business and scalable business model that will enable us to achieve them,” he said.
“There have been a number of notable multi-million pound valuations of companies on the Dragonfish network and that is the target for us,” Walters added.
Costa Bingo owner Mandalay Media was the most high-profile Dragonfish network deal of 2014, when the UK-focused firm was sold to Intertain in a deal worth up to £60m.
Last month eGR revealed that Walters had formed Tau Gaming, which is to initially focus on the UK market, in partnership with Gamesys’ former head of acquisition James Newman.
Walters left Metro Play in September after parent company DMG Media sold the operator 666BET and said his new venture aims to utilise Newman’s Digital Adventures affiliate business for acquiring customers.
“We’re building a marketing services business as much as an operator business which can supply various operators across the industry as well as our own,” he said.
“The philosophy of the company is to free up as much cash as possible to acquire customers as a big mantra for us in these early days is that every pound we don’t use on marketing is a pound we’re not using to acquire customers,” Walters added.