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Majesco sells stake in iGaming venture GMS Entertainment

14th November 2014 9:06 am GMT

Console games developer Majesco Entertainment has sold off its stake in the real-money gaming and social casino joint venture GMS Entertainment, less than a year after investing in the business.

Majesco has sold 500 preferred shares - its entire holding in the business - to Gili Lisani, chief executive of GMS-owned business Pariplay.

It has accepted a reduced payment of US$250,000 in cash, with a further contingent payment of $270,000 to follow if GMS, or [...]

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