NTN Communications Receives Additional Funding for Online Gaming Subsidiary

Strategic Insights -

NTN Communications Inc. has secured an extra $100,000 in funding from Omnigon to cover the operational costs of its online gaming subsidiary, IWN Inc. This additional funding comes on the heels of the initial $100,000 investment received by IWN in April 1998. NTN and Omnigon are finalizing a definitive purchase agreement, with the transaction expected to be completed by May 31, 1998. The acquisition aims to expand Omnigon's services into the regulated gaming industry, while NTN continues to broadcast interactive entertainment to a vast audience through various platforms.

Key Takeaways:

  • NTN Communications Inc. has received an additional $100,000 in funding from Omnigon for its online gaming subsidiary, IWN Inc.
  • The funding brings the total investment to $200,000, with the first $100,000 received in April 1998.
  • The acquisition of IWN is expected to be completed by May 31, 1998.
  • Omnigon will supply services tailored to the regulated gaming industry through the acquisition.
  • NTN Communications broadcasts interactive entertainment to over 27 million consumers per month through various platforms, including hospitality locations, America Online, and the Internet.
  • Omnigon provides secure and audited financial transaction systems on the Internet.

Statistics:

  • NTN Communications broadcasts to over 15 million consumers per month through hospitality locations.
  • An additional 12 million users are exposed to NTN's programming through America Online and the Internet.
  • The total number of consumers exposed to NTN's programming is over 27 million.
  • The additional funding of $100,000 brings the total investment to $200,000.
  • The acquisition of IWN is expected to be completed by May 31, 1998.

Sources:

  • "NTN Communications Receives Additional Funding for Online Gaming Subsidiary," BusinessWire, May 12, 1998.
  • "NTN Announces Acquisition of IWN," BusinessWire, April 1998 (exact date not specified).
  • NTN Communications Inc. website, www.ntn.com.