NASDAQ-listed gaming company Majesco Entertainment has said that GMS Entertainment, the social and real-money software developer in which it holds a 50 per cent stake, will help the company offset the continued decline of its console business which fell by 7 per cent in its financial first quarter.

Majesco invested $3.5m in GMS in 2012, with the price potentially rising to $4.5m depending on the financial performance of the business. It has since launched its first video lottery terminal (VLT) products through a partnership with lottery supplier Intralot.

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