VGW in the fast lane with Ferrari

Perth-based online gaming company VGW Holdings has struck a deal to sponsor high profile Formula 1 racing team Ferrari.

The sponsorship, which starts with the first race of the season in Bahrain this weekend, was described as “multi-faceted” and will feature VGW’s branding on the Formula 1 team’s cars, drivers and crew teamwear.

VGW, founded by rich lister Laurence Escalante, said partnering with Scuderia Ferrari was a rare opportunity to support the growth of the company’s online social games in its core North American market, and grow the business’s global brand.

“F1 is a truly global sport with massive reach that has experienced amazing growth in recent years, particularly in the US, and there’s no bigger brand than Ferrari,” Mr Escalante said in a statement.

VGW Holdings, which trades as Virtual Gaming Worlds, develops and operates online social casino-style games. VGW games use a freemium model where players can play for free and purchase gold coins for additional plays. Winnings are not paid out in cash, but can be redeemed for real prizes.

VGW has more than 1,000 staff globally, with approximately 200 staff in its headquarters in Perth, making one of the biggest IT development employers in the state.