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$20M Bet to Move Into Online Gaming

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  • Description

    3G Studios CEO James Kosta on expanding into online gaming industry.

  • Duration 2:34
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-- Reno Nevada based video game maker three G studios is betting big on expanding into online gambling.

Joining us now for small business big ideas James -- CEO of three G studios thanks for being with us.

Now club you're gonna be invested twenty million bucks over the next two years -- to move into this online gaming.

When the time when I keep re not least headlines full tilt poker -- -- poker was shut down by the Fed's guys -- have to return hundreds of millions of dollars.

Is this legal yet.

Well that's a great question it is legal as of now in Nevada.

And we expect at least a dozen states to approve it next year if the feds don't get -- If the feds don't get your way at a very big if isn't -- And dubbed the get the gambling.

You know the entire console videogame business and that's where you started you guys actually did that rock star for -- the PlayStation 3.

It's kind of disappear into the iPad into the iPhone and Smartphones.

Gambling is uniquely suited to go small screen isn't.

It really as I mean if you look at people in particularly in the the 2145.

Year old category and this new generation coming up although not illegal gamblers yet.

They access all of their information and all of applications on mobile devices we see very very few of them.

-- to physically go to casinos or even log on our PC.

Of course a mean getting up off the self up.

Now are there -- some other video game companies that might be well suited to move into gambling one -- the entire thing finally clears up.

Zynga -- farm -- -- already paid them cash money to buy some virtual tractor and fertilizer couldn't they start doing pay me money to really gamble.

Yeah well we have to it we absolutely believe that gambling is the next former monetization for video games we -- -- a period where everyone is paying sixty dollars for video game.

And then we went to free to play so it was free to play but then you have add ons like farm bill.

But the problem there's anyone can do that right whereas when you move into gambling be the friction entry is very high and so only companies -- can -- the cost of entry will get him.

OK last question you've got an application to the Nevada gaming commission to become.

You guys say the first on line approved online gambling company in the country -- -- status when you get an answer.

Well this can take and we -- be respectful -- can take anywhere from three to twelve months to get through to very expensive process.

I'm the fact that -- in the state and about a gives us a little bit of a leg up -- partnered with the casino which gives us that operator operator partners that we -- -- as soon as our licenses approved.

Okay actually say if the government will let you and good luck to you thanks a bit for -- so much for being listings cost of three G studios by her for having me.

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