After floating on London's Plus Markets equity stock exchange earlier this week, Devilfish Gaming, which operates the popular DevilfishPoker.com brand, is looking to expand its global presence by branching out into new gaming channels and bolstering its portfolio through acquisitions, according to CEO Paul Barnes.
Devilfish is the brainchild of successful international poker player Dave ‘Devilfish’ Ulliott and biotechnology entrepreneur Kevin Leech. After amassing more than 6,000 registered members in the UK and Europe, the company hired Hichens, Harrison and Company to advise on the float, which raised approximately £1m.
Speaking to iNTERGAMINGi, Barnes said the float was "really about making a statement to the market. Being floated gives us the opportunity to look seriously at acquisitions."
Fronted by Ulliott, a popular character in gaming circles, Devilfish is primarily a poker brand, and the majority of the proceeds from the float will be used to fund the existing business and develop the company’s current platform. Barnes, however, said that in addition to this organic growth, the Devilfish brand would be expanded beyond the realms of poker.
"While we cannot yet go into details, we are looking to move into new gaming channels, including the casino, sports betting and bingo sectors," he commented. "We will be making announcements in the near future."
Devilfish is currently registered in Kahnawake, the Canadian gaming jurisdiction that recently had its UK white list application refused, thus banning the company from advertising in the country. Given that the UK accounts for a large majority of Devilfish’s revenues are drawn from the UK, Barnes said Devilfish would be "looking to white list soon."
