Playboy and Gaming Technologies, Inc. Announce Partnership to Launch New Rummy Mobile Game in India
LOS ANGELES, July 08, 2021 (GLOBE NEWSWIRE) -- PLBY Group, Inc. (NASDAQ: PLBY), a leading pleasure and leisure lifestyle company and owner of Playboy, one of the most recognizable and iconic brands in the world, and Gaming Technologies, Inc. (OTC: GMGT) (“Gametech”) a software platform provider and owner of the Mexico-based interactive regulated online casino and sports betting and gaming brand Vale, today announced a partnership to bring a new Playboy-branded, skill-based, real-money Rummy mobile game to the Indian market. The game is expected to launch in 2021.
"India is an important and growing market for Playboy,” said Reena Patel, President, International at PLBY Group, Inc. "Our partnership with Gametech will cater to the young consumer’s desire for the Playboy brand in India across gaming and other categories including retail, beauty, venues, and hospitality.”
Commenting on the announcement, Jason Drummond, founder and Chief Executive Officer of Gametech, stated, “We are thrilled to partner with Playboy to launch real money, mobile, skill-based games in India. The potential market for online games of skill in India is still developing, and we believe that through this partnership with such an iconic brand, Gametech and Playboy can create a substantial presence in the Indian market and provide consumers fun and authentic games unlike no other partners in the territory.”
The online gaming industry in India is expected to grow at a compound annual growth rate of 40% to $2.8 billion by 2022, up from $1.1 billion in 2019, according to reports on a recent Deloitte India study.
Playboy today reaches a global audience through a diverse portfolio of consumer products, content, gaming, hospitality offerings, and more. Playboy’s international portfolio has been flourishing for over 25 years in Asian markets such as China and Japan. Earlier this year, Playboy expanded its global consumer products business into India in partnership with Jay Jay Iconic Brands, a leading fashion and lifestyle company in India.
For more information on the rollout of Gametech’s new Rummy mobile skill-based game in India with Playboy, please visit Gametech.com.
About PLBY Group, Inc.
PLBY Group, Inc. (“PLBY Group”) connects consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. PLBY Group serves consumers in four major categories: Sexual Wellness, Style & Apparel, Gaming & Lifestyle, and Beauty & Grooming. PLBY Group’s flagship consumer brand, Playboy, is one of the most recognizable, iconic brands in the world, driving billions of dollars in consumer spending annually across approximately 180 countries. Learn more at http://www.plbygroup.com.
About Gaming Technologies, Inc.
Gaming Technologies (“Gametech”) develops games, leverages leading third-party games, and operates a B2B gaming platform to enable land-based casinos, consumer brands and media company partners in regulated markets to rapidly leverage a branded online gambling presence while putting players first. In partnership with Big Bola Casinos, Gametech owns www.vale.mx, a regulated online casino and sports betting site in Mexico. For more information, visit www.gametech.com.
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. PLBY Group’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, PLBY Group’s expectations with respect to future performance, growth plans and anticipated financial impacts of PLBY Group’s recent business combination, its acquisitions, and commercial collaborations.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Factors that may cause such differences include, but are not limited to: (1) the impact of COVID-19 pandemic on PLBY Group’s business, acquired business and commercial collaborations; (2) the inability to maintain the listing of PLBY Group’s shares of common stock on Nasdaq; (3) the risk that the business combination, recent acquisitions or any proposed transactions disrupt PLBY Group’s current plans and operations, including the risk that PLBY Group does not complete any such proposed transactions or achieve the expected benefits from them; (4) the ability to recognize the anticipated benefits of the business combination, acquisitions or commercial collaborations which may be affected by, among other things, competition, the ability of PLBY Group to grow and manage growth profitably, and retain its key employees; (5) costs related to the business combination, acquisitions, commercial collaborations and proposed transactions; (6) changes in applicable laws or regulations; (7) the possibility that PLBY Group may be adversely affected by other economic, business, and/or competitive factors; (8) risks relating to the uncertainty of the projected financial information of PLBY Group; (9) risks related to the organic and inorganic growth of PLBY Group’s business and the timing of expected business milestones; and (10) other risks and uncertainties indicated from time to time in PLBY Group’s annual report on Form 10-K, including those under "Risk Factors" therein, and in PLBY Group’s other filings with the Securities and Exchange Commission. PLBY Group cautions that the foregoing list of factors is not exclusive, and readers should not place undue reliance upon any forward-looking statements, which speak only as of the date which they were made. PLBY Group does not undertake any obligation to update or revise any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Gametech Company Contact:
Jason Drummond, CEO
Gametech Investor Contact:
The Del Mar Consulting Group, Inc.
Bob Prag, President