Tapinator, Inc. (OTCQB: TAPM) operates within the research, development, publishing, and sale of mobile applications. The company’s portfolio of mobile apps includes over 300 titles, which have yielded total mobile downloads greater than 450 million. Among the company’s most popular apps include: Crypto Trillionaire, Video Poker Classic, Solitaire Dash, and more. Shares of the mobile app developer are gaining 21.95%, through afternoon trading on Tuesday, May 21, 2019. Over the past month, Tapinator has seen average daily volume of 63,313 shares. However, volume of 426,367 shares or dollar volume of $21,318, has already exchanged hands through afternoon trading on Tuesday.
Shares of Tapinator are rallying on Tuesday, after the company announced it is developing a new mobile social casino gaming app, which is set to be released during the fourth quarter 2019. Through its recent licensing deal with a major European real-money slot developer, Tapinator is able to feature an innovative slot metagame system. “The real-money version of the product is currently a top performing slot game across over 200 online casinos in a number of European countries,” according to Tapinator. The company hopes its innovation to age-old slots gaming will help spark player engagement and adoption. Here is the full press release detailing of the casino app:
Tapinator, Inc. Press Release:
NEW YORK, NY / ACCESSWIRE / May 21, 2019 / Tapinator, Inc. (“Tapinator”) (OTCQB: TAPM), a developer and publisher of category leading apps for mobile platforms, today announced that it is developing a new social casino game. The innovative mobile title is scheduled for launch in Q4 2019.
This upcoming game features a slot mechanic, with innovative metagame systems that have proven their success in the world of real money gaming. The title is made possible through Tapinator’s recent licensing deal with a major European real-money slots developer. The real-money version of the product is currently a top performing slot game across over 200 online casinos in a number of European countries. We will be announcing the details of this partnership closer to the game’s launch.
In 2018, the revenue for the social casino market reached $5.2 billion, according to Eilers & Krejcik. The social casino market grew 10.9% year-on-year in the final quarter of 2018. As a category, it is estimated that slots comprised over 70% of this revenue. Despite the significant revenue generated by slot games on mobile, there has been little innovation in the space. Key developers have focused on improving production values, running live ops, and adding content. This has started to change with the success of Coin Master by the developer Moon Active. Coin Master features a slot mechanic but its success is based on its metagame systems and social functionality. As a Top 15 Grossing game on iOS, with an estimated $75+ million in annual revenue, Coin Master has proven the top grossing potential for innovative mobile slot games.
“We are big believers in the social casino space on mobile and our social casino product, Video Poker Classic, is Top 150 in Downloads and Top 100 in Grossing within the Casino category on iOS. We look forward to using the expertise we’ve gained in the space to launch, what we believe, will be a successful slots product.
The slots space on mobile has been a very lucrative area but has been sparse on innovation. We are starting to see this change, with the introduction of innovative systems that promote player engagement progression, and monetization. We believe that, in 2019, we will see the launch of new innovative slot games that join Coin Master as top grossing products. Our expectation is that our licensing deal, combined with our social casino and mobile expertise, will allow Tapinator to successfully bring an innovative and proven slot game to mobile devices,” said Tapinator CEO, Ilya Nikolayev.
Tapinator Inc. (OTCQB: TAPM) develops and publishes category leading apps for mobile platforms. Tapinator’s library includes over 300 titles that, collectively, have achieved over 450 million mobile downloads, including notable properties such as Video Poker Classic, Solitaire Dash and Crypto Trillionaire. Tapinator generates revenues through the sale of branded advertising and via consumer transactions, including in-app purchases and subscriptions. Founded in 2013, Tapinator is headquartered in New York, with product development and marketing teams located in North America, Europe and Asia. Consumers can find high-quality mobile entertainment wherever they see the ‘T’ character logo, or at http://tapinator.com.
Forward Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Tapinator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “feel,” “may,” “will,” “expect,” “anticipate,” “estimate,” “intend,” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. The forward-looking statements include, among other things, our expectation that our licensing deal and our social casino and mobile expertise will allow us to successfully bring an innovative and proven slot game to mobile devices. Forward-looking statements in this release involve substantial risks and uncertainties that could cause the development and monetization of our mobile games and apps, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, our ability to utilize our licensing deal and social casino and mobile expertise to successfully launch an innovative and proven slot game to mobile devices. Tapinator undertakes no obligation to update or revise any forward-looking statements. The quoting and trading of the Company’s common stock on the OTC Market Group’s OTC Link quotation system is often thin and characterized by wide fluctuations in trading prices, due to many factors that may have little to do with the Company’s operations or business prospects. As a result, there may be volatility in the market price of the shares of the Company’s common stock for reasons unrelated to operating performance. Moreover, the OTC Market Group’s OTC Link quotation system is not a stock exchange, and trading of securities on it is often more sporadic than trading of securities listed on the NASDAQ Stock market or another securities exchange. Accordingly, stockholders may have difficulty reselling any of their shares. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company, please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, including but not limited to the discussion under “Risk Factors” therein, which the Company filed with the SEC and may be viewed at http://www.sec.gov.