Viking Investments Group, Inc. Decides to Enter the $6.3 Billion Dollar Online Social Gaming Market in China
NEW YORK and SHANGHAI, Oct. 16, 2012 /PRNewswire/ — Viking Investments Group, Inc. (OTCQB: VKIN), (“VIKING” and/or the “Company”) today announced that after a three months study, it has decided to enter the online social gaming market in China.
Pursuant to Niko Partners, www.nikopartners.com, a leader in Asian Games Market Intelligence, the Chinese market revenue of browser-based games will grow 41% in 2012. The 2011 mainland Chinese online games market size, including Social Networking Services (“SNS”) games, was $7.0 billion, up 46% from 2010. Excluding SNS games, online games revenue reached $6.3 billion. Niko projects fast growth in mobile games revenue in China led by the rising adoption of 3G usage, soaring sales of smartphones from a wide array of vendors, and the desire to play entertaining, inexpensive games on these smart mobile devices. Cosmas Hanson, managing partner of Niko said: “The Chinese mobile game market has no clear dominant company yet. Social casual games are popular now, while mobile hardcore games are just getting started.”
Online gaming in the People’s Republic of China represents one of the largest and fastest growing Internet business sectors in the country. With an estimated 513 million Internet users currently active in the PRC, the country now has the largest online user base in world, of which two-thirds engage in online game play. The average online gamer in China is relatively young (18 to 30 years old), male, and has at least completed a secondary level of education. Demographically the online gaming user base in China is very similar to base of China Internet users, most of whom live in larger cities. China is now the world’s largest online gaming market, contributing one-third to the global revenue in this sector in 2009, or 56 percent of the Asia Pacific total.
Says Tom Simeo, Chairman of Viking Investments, “We believe our unique gaming approach will appeal to 513 million Chinese Internet users, and we hope to capture a fraction of this multibillion dollar market. To make an impact at an early stage, Viking Investments is partnering up with some of the best in the industry. Supported platforms for our games will be iPhone, Android, Windows and iMac. Stay tuned for additional information related to the launch of our first Chinese Internet business.”
FOR MORE INFORMATION
To learn more about the Company and its latest news, visit Viking Investments Group, Inc. web site www.vikinginvestments.com.
ABOUT VIKING INVESTMENTS GROUP, INC.
Viking Investment Group, Inc., a U. S. publicly traded company, ticker VKIN, is a global financial advisory and investment firm, focused on investing in mid-stage American High-Tech companies with established technologies and revenue models that could feasibly be localized into emerging markets with Western management, such as China and India, the two most populous countries in the world, to be built to the point of maturity and expansion, guiding them in the process of becoming strong and mature companies.
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s beliefs, assumptions and expectations of the Company’s future operations and financial performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company’s ability to manage expansion of its operations effectively, and other factors detailed in the Company’s annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
Copyright (c) 2012 Viking Investments. All rights reserved
SOURCE Viking Investments Group, Inc.