GameLogic is based in Waltham, Mass., and its other investors include Bain Capital, General Catalyst Partners, and Maveron. 

"Our ability to proactively raise debt on favorable terms in these turbulent economic times is a testament to our solid business model and the tremendous opportunity to leverage the popularity of Internet games in the regulated U.S. gambling markets," said John E. Taylor, Jr., president and chief executive officer of GameLogic

GameLogic develops popular Internet-based game content that helps casinos attract new players and interact with existing players while they are off property, dramatically increasing casino property visitation. The firm's award-winning, regulatory-compliant, PlayAway system is operating successfully at regulated casinos across the U.S., including Las Vegas and Atlantic City.

"Given the current economic environment, we are extremely selective with whom we provide capital," said JP Marchette, Principal at Velocity Financial Group. "We saw a tremendous opportunity in GameLogic with their business model, and ability to enable their customers to monetize their existing assets via a unique proprietary platform that has the potential to be adopted across an entire industry."

VFG's Ventures division helps entrepreneurs by providing less dilutive, more flexible forms of capital. With offices in Boston and Silicon Valley, VFG's Ventures Group has built a broad portfolio consisting of technology, life sciences and clean energy companies. Clients range from pre-revenue companies with dedicated entrepreneurs to late stage, proven businesses seeking more efficient growth capital. VFG is backed by a diverse group of global institutional finance companies. For more information, visit www.velocityfg.com.

In commenting on the current condition of the economy, Taylor went on to say that "marketers are experiencing unprecedented economic challenges that require a complete rethink of marketing to existing players and finding new ones. Our products provide a solution to this challenge: low cost, efficient and entertaining ways for casinos to boost their marketing efforts."

GameLogic develops games, promotions and marketing interfaces to help casino operators retain customers. The company's platforms are unique in enabling players to enjoy a regulatory compliant Internet gambling -like experience while they are away from a conventional, land-based casino.