01 March 2013
Travers Smith advises on establishment of social gaming joint venture, Bonza Gaming
A Travers Smith team led by corporate partner Will Howard and including commercial partner Richard Brown, has advised existing client Plumbee in connection with the establishment of Bonza Gaming, a joint venture with Sportingbet plc, which closed on 6 February 2013. Bonza Gaming will look to exploit real money gaming opportunities on social media platforms (including Facebook). The deal marks the latest stage in Plumbee's rapid development since being founded by three former Playfish executives in 2011.
Plumbee CEO Raf Keustermans commented "any deal in the real-money gaming space is always fairly complex, due to regulatory and other requirements, but doing a joint-venture in this area between a startup and a large, listed company is exceptionally difficult. We were very happy to have the Travers Smith team on our side during the process. Not only did they provide us with insight and guidance, they also played a key role in driving this deal over the line, provided leadership and structure that was essential to make this deal happen".
Sportingbet plc was advised by Nabarro.