MyVegas studio nets $20M to make games with real-world rewards

MyVegas developer Playstudios has managed to drum up $20 million in its most recent round of funding to continue developing and operating social casino games in partnership with an array of Las Vegas casinos and businesses. It's an interesting arrangement that sees Playstudios offering players of its free-to-play mobile and social games (including MyVegas, MyVegas Blackjack and MyVegas Slots) real-world rewards like free tickets to Las Vegas shows and access to complimentary rooms and meals from Las Vegas hotels and restaurants. Offering deals through partners like the MGM Grand and the Las Vegas Monorail seems to have given Playstudios an edge in the potentially lucrative social casino mobile games market, as its titles often pop up on the top casino game charts of Apple and Google's mobile app stores. The market for social casino games has proven lucrative enough to attract even long-standing game companies like Atari, who is expected to launch its own casino games platform this year. Going forward, Playstudios plans to use the $20 million raised in its most recent Jafco Ventures-led investment round to underwrite further development and expansion of its operations.