INTRODUCING: BUZZTIME ENTERTAINMENT, A RAPIDLY GROWING PRIVATE COMPANY, ROGER SHORTLY TO GO ON THEIR BOARD
“Buzztime Entertainment is a 35 year old social video game company. It has a long established history of turning wallflowers into bar buddies at the 835 bars and restaurants that are its customers in the United States and Canada.
Buzztime was recently bought by eGames.com, a company owned by Aram Fuchs. Fuchs, someone we have known for almost two decades, has been a big fan of Buzztime for most of its history. Fuchs has a plan to build upon the foundation of this well-known social video game company that has close to 2% (6,087,704) of the combined populations of the United States and Canada in its player database. He plans to develop additional enjoyable online game features that integrate the company’s games into today’s mobile-first lifestyle while giving incentives for his players to visit his customers’ restaurants.
In a previous study with a nationwide restaurant chain operation Buzztime proved that it brought over $1,400 in revenue per month per location. This provides material incremental profits, especially considerng an investment per restaurant of roughly $3 to $10 per day. Furthermore, testimonial videos from customers who fought to get Buzztime back in their favorite bar, to be provided shortly on this website, will provide a touching and emotional argument that Buzztime can differentiate a restaurant’s appeal while earning an impressively high cash-on-cash return for the restaurant owner.
We have known Aram Fuchs, the new owner and CEO, of Buzztime, for almost two decades, starting with his previous career as a hedge fund manager. He is hard working and honest and capable and for that reason we are proud to become, shortly, one of his Board members. We are confident that there is a wholesome social need for Buzztime’s product, and have an expectation that this long-established Company will grow very materially as it exploits old and new opportunities within the growing social gaming sector. Individual hospitality companies, from hotels to bars to restaurants with their varying objectives, will obviously choose (or not) to get involved, but the industry will no doubt hear more from Buzztime, and we will report on significant progress as it occurs.
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