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ITV invests £2.5 million in live gaming tech startup Live Tech Games

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ITV selects pioneering Live Tech Games as part of Studio 55 Ventures.

Live Tech Games announces that ITV has injected a £2.5 million investment into the pioneering tech startup, via the Studio 55 Ventures arm, for a minority stake. The ITV team selected Live Tech Games as part of its wider strategy to enhance ITV’s reach amongst 16-34 year olds.

ITV set up Studio 55 Ventures in 2020 to work with entrepreneurs to build and scale a business within the organisation, taking advantage of ITV’s impressive business experience, backing and support as the businesses take off. With Live Tech Games, ITV has identified a start-up in the burgeoning games sector as a worthwhile investment to complement its wider portfolio of businesses as part of the scheme.

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This investment and support in Live Tech Games presents a pivotal opportunity for the company to work with ITV and the UK audience, by leveraging ITV’s globally recognised IP to create new, exciting forms of entertainment direct to consumers’ mobile devices. Earlier this year, Live Tech Games successfully ran a pilot with ITV, working with the This Morning team, to keep viewers connected even after the programme had ended as thousands of players downloaded Roshambo Live, to play the exclusive This Morning game.

‘We are delighted to announce our investment into Live Tech Games this month. Studio 55 Ventures has sought out new business ideas which bring something fresh and unique to the media and entertainment worlds.’ says Rufus Radcliffe, MD ITV On Demand. ‘Samuel and Nathan perfectly encapsulate what we were looking for: innovative, creative and dedicated to their vision. We believe our investment will allow them to flourish and enable Live Tech Games to work alongside ITV in expanding the reach of our internationally recognised programmes and brands.”

The Live Tech Games offering is a unique platform, combining mobile entertainment and live game tournaments, both exclusively in-venue and nationally, bringing people together, regardless of where or who they are. The platform seeks to fill the gap in the mobile gaming market for live, light-hearted yet competitive games, taking familiar, well known games and transforming them into effortless yet rewarding live experiences. Live Tech Games’ first free app, Roshambo Live, has already enthralled UK players with its adrenaline-filled but nostalgic and simple tournament of Rock Paper Scissors, pitting players nationwide head-to-head in live knock-out rounds for the chance to win huge prizes, ranging from cash to the latest tech to unique experiences! In the last 12 months of play, Roshambo Live has given away over £60,000 worth of prizes to winners up and down the country, changing lives all from the comfort of players’ own sofas. Rapidly expanding its team to keep up with public demand, Samuel and Nathan are looking for the best-in-class talent to join the pioneering mobile game studio; including Senior Producer, Lead Artist, Game Designer, Senior Game Developer, Game Developer and QA & Test Lead. Looking for highly motivated and ready to be challenged individuals, the Live Tech Games core team will work together on the next wave of mobile gaming.

‘Following an incredibly successful pilot with ITV at the start of the year, we were delighted at the opportunity to continue working together. The team at ITV are great and we know their support will help us take Live Tech Games to new heights.’ says Samuel Worsley, co-founder of Live Tech Games. ‘We already have huge plans for new games, but we’re keeping them quiet for now – all utilising our unique Live Tech Games platform and live gaming engine that we’ve spent the past 18 months perfecting. Our pledge to our players is as always: super simple, adrenaline-filled tournament games, to win exciting prizes, that everyone can play, and anyone can win!”

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Paf employees donated €125,000

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The Nordic gaming company Paf decided to give all employees the opportunity to donate €125,000 to various good causes, initiatives and projects. The causes were selected through a nomination and voting process by the employees.

All Paf employees were given the opportunity to nominate their own initiatives that they felt were worthy of Paf’s €125,000 donation. Once the nomination process was complete, employees were asked to vote for the initiatives, and it was the employees’ votes that determined which initiatives received the donation and how much of the sum was allocated to each project.

“It’s really important that everyone who works at Paf feels that our core mission is different and that it’s well worth working for. That’s why we wanted to involve the employees and give everyone a direct opportunity to determine the distribution of the donation,” says Paf’s CEO Christer Fahlstedt.

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Paf’s basic purpose is to generate funds for the benefit of society. The annual profit is used as Paf funds for social, environmental, youth, sports and cultural purposes, among others.

Second year in a row

This is the second year in a row that Paf employees have been able to donate a sum of money to various good causes. Last year employees donated €100,000 and this year the amount was increased to €125,000.

“It was a great way to end last year and a good initiative to repeat this year. The donation is not part of Paf’s usual mission and purpose, but it reflects our overall core purpose in an excellent way,’ says Paf CEO Christer Fahlstedt.

The distribution of €125,000

When the employees gathered in December for the annual Christmas speech, the vote was taken and the result determined how the €125,000 would be distributed. The Employee vote gave causes for Ukraine the biggest donation and €40,000, followed by causes against cancer €25,000 and in third place causes for combating abuse of children €15.000.

1. €40.000 – Causes for Ukraine

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2. €25.000 – Causes against cancer

3. €15.000 – Causes for combating abuse of children

4. €12.000 – Causes for Children

5. €9.000 – Causes for Animals

6. €7.000 – The Swedish Brain Foundation (Hjärnfonden)

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7. €6.000 – Medical aid for Palestine

8. €5.000 – Causes for Women

9. €3.500 – Relief efforts – Spanish weather disaster

10. €2.500 – Jesuit Refugee Services Malta

Most votes – top 3

Causes for Ukraine goes to the following initiatives;

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  • Power Up Ukraine, Swedish based, helps with energy solutions

  • Blågula Bilen, Swedish based, donates trucks & 4×4 vehicles with supplies

  • Hospitallers, based in Ukraine, Hospitallers is a volunteer organization of paramedics.

  • Come Back Alive, Ukraine, Demining in Ukraine

  • Safe & Smart, Ukraine based, Restoring hybrid and offline learning in Ukrainian schools

Causes against cancer goes to;

  • Barncancerfonden, Sweden, They help families and contribute to paediatric cancer research with the aim of eradicating childhood cancer

  • Kingitud Elu, Estonia, Estonian Association of Parents of Children with Cancer

  • Rintasyöpäyhdistys, Finland, Europa Donna Finland ry works to increase awareness of breast cancer and improve the quality of life for patients during and after the treatment period

  • Project Liv, Finland, support children with cancer and their families

Causes for combating abuse of children goes to;

  • Internet Watch Foundation, UK, stop child sexual abuse online

  • Anti-Human Trafficking Intelligence Initiative, USA based, end human trafficking and child exploitation

  • Missing Children Europe, protects children from going missing

  • ECPAT, based in Thailand, ensures children live a childhood free from sexual abuse and exploitation

  • La Strada International, Europe, works against human trafficking

  • Prajwala, India, works to end sex trafficking & sex crime

  • Maiti Nepal, Nepal, works for a society free from trafficking of children & women

The nomination and voting process was not open to organisations or initiatives that were already beneficiaries of Paf funds. Since 1966, Paf has distributed more than €447 million in Paf funds. In the spring of 2024, Paf was able to distribute €31.4 million for the benefit of society.

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2025 ICR Conference

Golden Matrix Group to Participate in the 2025 ICR Conference

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Golden Matrix Group Inc., a developer and licensor of online gaming platforms, systems, and gaming content, today announced that management will participate in the 2025 ICR Conference on January 13-15, 2025 at the Grande Lakes Resort in Orlando, FL.

Zoran Milosevic, Chief Executive Officer of Meridianbet, will participate in a fireside chat with an equity research analyst on Monday, January 13, 2025, at 2:30 PM ET and will also be available for meetings during the conference.

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The Power of High Performance: GR8 Tech Achieves 25% Turnover Growth in 2024

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GR8 Tech has successfully closed the year – a 25% year-on-year increase in turnover, dozens of new clients signed, and a significant boost in client revenue. Throughout the year, the company developed nearly 200 new features and improvements, continually enhancing the functionality of its platform. With over 12.4 billion bets placed in 2024 (a 125% increase year-on-year), GR8 Tech has proven its ability to scale and deliver consistent performance, even during the busiest events.

Our primary focus in 2024 was to empower operators with tools for seamless platform customization and streamlined management. We introduced geo-specific solutions that enable faster market launches, adapting platforms to meet local demands—whether through bonus mechanics, payment methods, or tailored content for sportsbook and casino. At the same time, we strengthened our offerings with enhanced sportsbook features, new games in the casino vertical, and innovative gamification mechanics to drive player engagement,” said Denys Parkhomenko, Chief Product Officer at GR8 Tech.

GR8 Tech demonstrated its robust scalability by handling 21.5 million bets during the IPL 2024 alone. With the capacity to process 20,000 bets and 54,000 wallet transactions per second, the platform consistently performs even during high-traffic periods.

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In 2024, GR8 Tech signed numerous long-term partnerships, bringing its total number of projects worldwide to 45+ and proving the growing demand for customizable iGaming solutions. The company also received industry-wide acclaim, securing multiple prestigious awards, such as Silver as the Best Platform Provider of the Year at SBC Awards, “Best Online Sportsbook Provider” at SiGMA Eurasia, “Best Workplace” at SiGMA Americas, and “Rising Star Provider of the Year” at the Affpapa iGaming Awards 2024.

Building on its achievements, GR8 Tech is set for another successful year, continuing to deliver industry-leading solutions for operators around the world.

Improvement and excellence are about consistently staying ahead. A trend might emerge and then disappear tomorrow, but improving your product – making it better than the competition – has lasting value. Whether it’s through better personalization, risk management, recommendations, or any other aspect, improvement is essential. And in this industry, you don’t really have a choice. It’s so fast-paced that if something new and valuable appears, you need to adopt it immediately. The mindset of constant improvement is what keeps a product relevant and competitive,” said Sergey Ghazaryan, CRO at GR8 Tech.

GR8 Tech heads into 2025 with a continued commitment to driving high-performance results, leading industry trends, and challenging the norm.

The post The Power of High Performance: GR8 Tech Achieves 25% Turnover Growth in 2024 appeared first on European Gaming Industry News.

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