Logos of Massive Gaming (left) and LT Game | Image provided by Neowiz
Neowiz (co-CEOs Seungchul Kim and Tae-Geun Bae) announced on the 24th that its overseas subsidiary, Massive Gaming (MVG), has signed a slot software supply agreement with offline casino machine supplier LT Game.
MVG is Neowiz’s subsidiary that services global social casino games like House of Slots and House of Poker. The company offers unique slot games, casino solutions, and products and is expanding its business into the global online and offline casino markets through a B2B model.
LT Game, a Hong Kong-listed Paradise Entertainment subsidiary based in Macau, supplies offline casino machines. The company boasts exceptional hardware technology and a vast supply infrastructure, holding a 100% market share of Live Multiple Game (LMG) systems and a 60% market share of Electronic Table Games (ETG) in the Macau casino market.
Through this agreement, the two companies will collaborate on developing new offline slot machines, including creating competitive slot IPs. The partnership will synergize MVG’s social casino game software development expertise and LT Game’s specialized hardware technology. Together, they aim to provide high-quality slot games, offering global users a fresh and unique gaming experience.
MVG plans to strengthen its competitiveness in both the offline casino market and the B2B i-Gaming (online casino) sector, leveraging its insights and experience from the social casino realm.
A Neowiz representative stated, “This agreement between MVG and LT Game combines MVG’s expertise in online and offline social casino gaming with LT Game’s robust supply infrastructure, creating new growth opportunities in the market. We look forward to actively collaborating to deliver new and exciting gaming experiences to users.”
In August 2021, Neowiz also signed a joint game content development agreement with Kangwon Land, where the two companies agreed to co-develop online social games and offline slot machine resources.
Pangyo Techno Valley is a global integrated R&D hub focused on IT, BT, CT, and NT, integrating Research (R), People (P), Information (I), and Trade (T). As Gyeonggi-do’s representative innovation cluster, Pangyo Techno Valley was established to secure national new growth drivers such as technological innovation, human resource development, job creation, and enhancing international business competitiveness. As of 2023, 1,666 companies employ 78,751 people, and it has positioned itself as the most innovative hub in South Korea, with sales amounting to 167.7 trillion KRW (125.5 billion USD).
Furthermore, the Techno Valley Innovation Division of the Gyeonggi-do Business & Science Accelerator (GBSA) holds monthly events such as the Pangyo Evening Meet-Up, Pan-Pan Day, and the Pangyo Startup Investment Exchange “In-Best Pangyo” to maximize the value of Pangyo Techno Valley. They also support the Pangyo Overseas Promotion Program to publicize information about Pangyo’s companies, products, and services to domestic and foreign investors and the media, thereby facilitating foreign investment.
