13th Jul 2016 13:28
LONDON (Alliance News) - Mobile payments company Bango PLC saw its shares rise on Wednesday after the company forecast the new 'Pokemon Go' game will prove a huge success and has already delivered a rise in end-user spend.
Bango, in a release on its website, said a number of investors have asked about a potential rise in end-user spend from 'Pokemon Go'. The game, which uses augmented reality technology to allow mobile users to catch the Pokemon characters, has been a huge hit since launching last week, causing the share price in maker Nintendo to go through the roof.
Bango said though it does not normally forecast the success of any content or apps, it believes 'Pokemon Go' will prove a "phenomenon" and will likely prove a "tens of billions of dollars" game.
It said that in countries where the game has been deployed and where Bango powers the direct carrier billing services, Pokemon Go Coins are selling very well.
Though "very early days", Bango said it has seen "noticeable increases in overall spend", with no sign as yet of any declines in sales of other top sellers.
"At this stage Bango can be confident that Pokemon Go has the potential to really drive the spending of mobile users, supporting the Bango thesis that new forms of content and entertainment will drive end user spend growth well ahead of underlying smartphone growth in the years to come," the company said.
"Pokemon Go looks like it will be the next global mega-phenomenon, like a Hotmail, eBay, Google or Facebook," it added.
Bango shares were up 31% to 75.71 pence on Wednesday afternoon, the best performer in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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