Bischoff Hervey Entertainment announced the acquisition of a 50 percent equity stake in MX Digital, a developer of interactive, casino, and betting games for online and mobile platforms.

"We're incredibly excited about our partnership with MX," Eric Bischoff stated in a press release. "We're expanding into an entirely new sector of entertainment and content... Combining the skill sets of Bischoff Hervey Entertainment with those at MX puts us at a unique advantage in this explosive business sector."

Jason Hervey also commented on the acquisition: "With MX, we're excited to find ourselves at the forefront of an entirely new entertainment sector. Combine the enormous growth in online gaming globally, and the explosion in popularity of mobile, and social games, and you've got an emerging sector that's already massive. Getting in on the ground floor of an entirely new medium is a once-in-a-lifetime opportunity." Read the full press release at Marketwatch.com.

Powell's POV: I won't claim to know anything about the company that Bischoff and Hervey bought into, but the press release included a line regarding the growth possibilities. A Morgan-Stanley project that casino-style games on social networks may be worth as much as $7 billion by 2015. In other words, if MX Digital performs well, there's a lot of money to be made.

RECOMMEND THIS ARTICLE: