Leading slot machine developer Bally Technologies is considering purchasing online poker game developer 3G Studios in their latest bid to combine online gambling and casino gaming on social media platforms.
Reuters has reported that a source within the company said that several Bally Technologies executives were meeting at 3G’s offices today to determine whether to make a formal bid.
They reported that a source inside 3G Studios confirmed that the company had been talking with other companies about potential acquisition.
“3G is holding initial talks with potential buyers and the sale could range between $60 million and $100 million,” the source said.
Fellow leading slot machine developer International Game Technology as well as video game developed Electronic Arts are also considering whether to make a bid.
The move is the latest by slot machine developers to enter the online and social gaming industries.
International Game Technology paid $500 earlier this year for Double Down Interactive as they attempt to gain a slice of the internet gambling market that, according to Reuters, is expected to reach $10 billion in bets a year by 2017.
Carlo Santarelli, analyst for Deutsche Bank, believes that online gambling is the future of the industry and that casinos as well as casino game developers are desperate to get a slice of the action.
“The social gaming business is up for grabs. I think we’re in a space where we’ll see deal activity, largely on the technology side. For casinos, social gaming content is king right now,” Santarelli said.
Bally Technologies and International Game Technology have both been granted online gaming licenses in Nevada that allows them to partner with casinos to provide online games through their machines with the final member of the big three slots developers WMS Industries expected to announce a similar plan shortly.