Elevator Pitch – Asylum Labs

Asylum Labs Pitch

In this one-minute elevator pitch with CalvinAyre.com, Asylum Labs CEO Jason Kaehler talks how Wild Party Bingo is putting a new spin on classic bingo.

Bingo has indeed come a long way from a time when it was associated with tables of old women sitting in smoky, larger than life halls. No longer a game that only your grandmother would play, bingo is shedding its old-fashioned image in favor of a radical re-brand to keep up with the times. Today, online bingo is enjoying immense popularity as more and more as millions of people around the world start rediscovering the game. The United Kingdom, in particular, is considered to be the world’s largest market for single online bingo, with an estimated €312 million ($346.29 million) of gross gaming revenue in 2013. So how do you make an online bingo game appealing to people, even the millennials? At Asylum Labs, the key is to put “a new spin” on the classic game. CEO Jason Kaehler said Asylum Lab’s latest game, Wild Party Bingo, encourages players to mingle—at least virtually—with each other. “We’re showing Wild Party Bingo, the world’s most social bingo game. We’ve been live for a year. The game’s got about 40,000 players a day, where you jump in a room with 50 other people and you can play bingo with your friends, you can make new friends, you can buy them gifts you can do all kinds of cool player to player interactions,” Kaehler told CalvinAyre.com during November’s iGaming Entrepreneur Conference. Wild Party Bingo features arcade-style power-ups, team-based cooperative gameplay as well as team-based competitions, which means that to advance in the game, players must work together with their teammates to gain power-ups that help them reach bingos faster. Then as the players level up and progress through the game, new bingo rooms unlock new locations like Mardi Gras, Versailles Palace and Vegas. “We’ve got all kinds of cool features. We’ve just added a slots game which is very popular. People love the slots, and we’re finding that people play the game almost twice as much as they used to. And we’re adding a new collections mechanic next month and we’re adding a new daily rewards as well,” Kaehler said. Well, the fate of online bingo looks to be quite bright. Are you an iGaming company looking for an investment? Submit your ideas to CalvinAyre.com Ventures.