Current

Playlogic Entertainment NV was established in 2010. The company is active in mobile gambling and console publishing.

Playlogic Entertainment NV completed the acquisition of Mobile gambling company Wannagaming at the beginning of 2011. Wannagaming has been operational for four years prior to the acquisition by Playlogic Entertainment NV.

Gaming & Gambling products are both Fun Play and Real Play powered by market leader Microgaming Ltd.
The company operates all Real Play components under a Maltese gambling license and is in full compliance with rules and regulations under Maltese Class I gambling license (LGA/CL1/259/2006).

Other products include game software for the most popular platforms by Sony, Microsoft, Nintendo and Apple. Digital distribution has replaced the taditional packaged goods to retail model.

Company History

Formed in 2010 Playlogic Entertainment NV is the continuation of Playlogic International NV which was established in 2002 as a traditional console video games publisher on Sony, Microsoft and Nintendo systems. After restructuring the company continued with the same management team and several key employees.

The restructured company completed the acquisition of Mobile Gaming & Gambling company Wannagaming International BV in 2011.
WannaGaming has been active in the Mobile Gaming & Gambling industry for 4 years prior to the acquisition.

WGM Ltd. on Malta, using brand name WannaGaming, has a long term partnership with market leader Microgaming Ltd. for all mobile gaming and gambling products, banking services and 24/7 international helpdesk services.
The company operates under a Maltese gambling license.
WGM Ltd. on Malta is a 100% subsidiary of Playlogic Entertainment NV.

Playlogic Entertainment NV continues to provide all required services to developers for release of their games on all current game consoles.

History Prior to Restructuring

Playlogic Entertainment, Inc. was listed on the ‘OTCBB’ in New York, (ticker symbol: PLGC) as of June 2005 and was fully compliant and completed all SEC required filings until Q1 2010. The stock is currently pink sheet and Playlogic Entertainment Inc. has been renamed Donar Ventures.

Playlogic International N.V. was a full subsidiary of Playlogic Entertainment, Inc. and was based in Amsterdam, the Netherlands. Playlogic published a variety of games developed internationally but also through their in-house production facility, Playlogic Game Factory BV.

Together Playlogic represented a work force stronger than 110 who were responsible for Distributing, Selling, Licensing, PR & Marketing, publishing and Product Development.

In 2009, Playlogic Games were pleased to see the launch of the largely anticipated Fairytale Fights, which was developed in house by Playlogic Games Factory and published by Playlogic International NV.

Playlogic Game Factory: Based in Breda (the Netherlands) was one of the most modern and advanced contemporary development studios with a team of circa 80 people developing a number of titles on several platforms.

First Party Development for Sony

Playlogic Game Factory also worked as a First Party contractor for Sony Computer Entertainment Europe (SCEE). This relationship was continued for 4 years in which Playlogic Game Factory developed 5 products that were published by Sony Computer Entertainment Europe.
These games were Eyepet, Eyepet Move Edition, Pom Pom Party, Aqua Vita and Mesmerize I&II.
These titles used either the Playstation 2 EyeToy™ camera or the Playstation 3 Eye™ Camera.

The company’s principal sources of revenue were derived from publishing operations. Playlogic owned most of the intellectual property they published.

Bankruptcy and Restart

On Tuesday 27 July 2010 rumours started to surface around Playlogic about a possible bankruptcy

Bankruptcy

Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....

, after a few years of struggling with major losses and new games failing to bring in new cash.. Wednesday 28 July 2010 the rumours have been confirmed by a filing at the US Securities and Exchange Commission. This filing revealed that the company had voluntarily entered into 'surseance van betaling', the Dutch equivalent of Chapter 11

Chapter 11, Title 11, United States Code

Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...

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On Wednesday 4 August 2010, the court declared Playlogic officially bankrupt. Later that year Playlogic Entertainment N.V. relaunched with some of the original staff, taking a focus on publishing already made games on digital platforms and gambling related games.

External links

• Company and investor information at Yahoo Finance