Richard Branson, Founder of the Virgin Group, recently confirmed the launch of Virgin Gaming. The initiative is designed to be an online destination for console gamers of all ability levels to meet and play competitively for cash, points and prizes.

“Gamers want something new, something interactive and something fun. Virgin Gaming is just that access to play the best games in super competitive tournaments with anyone in the world and win the biggest prizes and the most rewards,” said Branson.

“Giving away over $1 million in cash and prizes this year is proof. We’ve had great success with Virgin Games and Virgin Interactive Entertainment and recognized the enormous potential of an online community of 40 million daily users. I welcome gamers from novice to expert to join the online Virgin Gaming community.”

In order to promote the event, Branson showed up in front of E3 with an armored truck and $1 million in cash in hand. His message: lots of big prize tournaments will be held at virgingaming.com for those who register.

“The entrepreneurial spirit and philosophy for fun and innovation shared between World Gaming and Virgin was critical in the creation of Virgin Gaming, and we are eager to maximize its potential with the online gaming community,” said Rob Segal, CEO of Virgin Gaming. “With Virgin Gaming, we’re offering members more than just a place to compete. We’re offering them the best, safest and most secure online experience with the fresh, fun approach Virgin is known for.”

“Gaming is very competitive by nature, and competition is always more exciting when there’s something on the line,” adds Virgin Gaming President, Billy Levy. “There are plenty of tournament leagues out there for the pros, but we created Virgin Gaming as a platform for all gamers to have the experience of playing each other with more at stake than just pride.”