News

GameLogic Receives $3MM in Financing from Velocity

Financing replaces existing debt instrument on favorable terms.

WALTHAM, MA — (December 17, 2008) — GameLogic today announced that it has received $3.0 million of debt financing from Velocity Financial Group, Inc., a leading specialty finance company that serves middle-market and venture-backed companies.

GameLogic uses popular Internet-based game content to help casinos attract new players and interact with existing players while they are off property, materially increasing casino property visitation. The Company's award-winning, regulatory-compliant, PlayAway™ system is operating successfully at regulated casinos across the United States.

"Our ability to proactively raise debt on favorable terms in these turbulent economic times is a testament to our solid business model and the tremendous opportunity to leverage the popularity of Internet games in the regulated US gambling markets," said John E. Taylor, Jr., president and chief executive officer of GameLogic. "We are pleased that Velocity engaged us and that we were able to form this mutually beneficial relationship."

In commenting on the current condition of the casino industry, Taylor went on to say that "Casino marketers are experiencing unprecedented economic challenges that require a complete rethink of marketing to existing players and finding new ones. Our products provide a solution to this challenge: low cost, efficient and entertaining ways for casinos to boost their marketing efforts."

"Given the current economic environment, we are extremely selective with whom we provide capital," said JP Marchette, Principal at Velocity Financial Group. "We saw a tremendous opportunity in GameLogic with their business model, and ability to enable their customers to monetize their existing assets via a unique proprietary platform that has the potential to be adopted across an entire industry."

About Velocity Financial Group
Velocity Financial Group, Inc. ("VFG") is a specialty finance company formed to serve middle-market and venture-backed companies. VFG's Ventures division is dedicated to helping entrepreneurs by providing less dilutive, more flexible forms of capital. With offices in Boston and Silicon Valley, VFG's Ventures Group has built a broad portfolio consisting of technology, life sciences and clean energy companies. Clients range from pre-revenue companies with dedicated entrepreneurs to late stage, proven businesses seeking more efficient growth capital. VFG is backed by a diverse group of global institutional finance companies. For more information, please visit www.velocityfg.com.

About GameLogic
GameLogic develops games, promotions and marketing interfaces to help casino operators efficiently interact with their players when they are away from the casino, leading to increased casino visitation. The company's platforms are unique in enabling players to enjoy a regulatory compliant Internet gambling-like experience while they are away from the casino. GameLogic is based in Waltham, MA, and its investors include Bain Capital, General Catalyst Partners, and Maveron. For more information, please visit www.gamelogic.com.

Contact:
Sarah Bingham
GameLogic
781.693.4308

JP Marchette
Velocity Financial Group
781.486.6602

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