Gamblit Gaming raises new growth capital

(PRESS RELEASE) -- Gamblit Gaming, the leading publisher for real-money and skill-based gaming for land based casinos, today announced it has raised $25 million in new growth financing.

"There is significant demand from casino operators for our innovative products. We have begun to launch field trials in Las Vegas under the Nevada Gaming Control Board's New Innovation Beta program, and player engagement has been very strong," said Eric Meyerhofer, Chief Executive Officer of Gamblit Gaming.

"As Gamblit prepares for full commercial launch of its gaming products in Las Vegas and other gaming jurisdictions, we're confident our new investor relationships will drive growth as they share in our vision," added Miles Arnone, Chairman of Gamblit Gaming.

Gamblit's Model G interactive game tables are now live in Las Vegas and are the first multiplayer skill games on the casino floor. Locations with Gamblit hardware and games include Planet Hollywood Resort & Casino, the Hakkasan Group managed LEVEL UP gaming lounge at the MGM Grand Hotel & Casino Las Vegas, Caesars Palace Las Vegas Hotel & Casino, The LINQ Hotel & Casino and Paris Las Vegas Hotel & Casino, with many more properties to be added soon. Gamblit's skill games and tables are also live at Harrah's Resort Southern California, the first location in the state to offer skill games, as well as Harrah's Lake Tahoe Hotel and Casino.

Stifel acted as exclusive financial advisor to Gamblit Gaming in the transaction.