Lifestyle tech startup Ladytron has announced a partnership with one of the biggest names in online gambling.
Ladiestron will pay LadyTron a fixed percentage of revenues from its online gambling platform Goldmine Solutions, the company announced Tuesday.
Ladytrons Goldmine Solution partners are not disclosing the terms of the deal.
LadyTrons Goldminers and Goldmine Partners have been partners since 2011.
LadyTrends CEO Justin Wieder said in a statement the partnership “provides us the chance to further our focus on delivering great value for customers and partners.”
Ladytron also announced the acquisition of LadyTrend’s goldmine solutions business, which was previously owned by Goldmine Ventures.
The Goldmine Group has been investing in and growing the goldmine gaming business for the past two years, said CEO John Ritter.
Goldmine, which has a $5 billion valuation, is a gaming-focused investment bank with about 1,200 employees.
In an interview with Recode, Ritter said the new company will work with LadyTrend and other Goldmine solutions partners on “business development, marketing, and operations.”
Goldmine Solutions has a long history of investing in digital gaming platforms, including Goldmine.com and the Goldmine Casino, which have gained millions of users.
Ladygoldmine, however, has a strong focus on gambling.
“I don’t think we’re going to be looking to make money off the service, but I think we will look to make the most of it and use that revenue to expand our business,” Ritter told Recode.
Ladytrons announcement comes on the heels of a similar deal in February.
Lady Trend, which is based in San Francisco, announced a deal with GoldenLottery.com that includes a 3.5% stake in the company.
GoldenLottery’s business is based on the assumption that people will play online casino games, said a spokeswoman for GoldenLotage, which does not disclose the terms.
“The game of chance has proven to be a huge success for the company and the people who play it,” she said.
The company declined to disclose the value of the investment.
Golden Lottery declined to comment on the deal or LadyTrend.
Goldmine said in its press release that it expects to begin operating by the end of 2021.
LadyTrend is an online gambling service that lets users gamble in games such as poker, craps, roulette, and slot machines.
Lady Trends’ business model is built around the concept of “virtual gold,” which is a coin or token that can be used to win prizes.
GoldMine has been focused on developing a digital gold marketplace that allows users to bet on various digital games, including craps and slot machine games, as well as games like blackjack and roulette.