Electric Word PLC IGaming partnership (5921S)
08 11월 2013 - 10:14PM
UK Regulatory
TIDMELE
RNS Number : 5921S
Electric Word PLC
08 November 2013
8 November 2013
Electric Word plc
IGaming partnership
Electric Word plc ("EW") is pleased to announce a new
partnership between its online gaming business ("iGB") and iGaming
North America, a Nevada-based conference business.
iGB has acquired a 50% interest in SAM Media Ltd, the membership
company that owns the annual iGaming North America conference. EW's
interest is held through iGB's wholly owned US subsidiary,
iGamingBusiness North America Inc., a Delaware Corporation, and was
acquired for a nominal consideration. iGB will bring the experience
of its successful European conference business to the expertise of
the existing SAM Media team made up of renowned Nevada gaming
attorney Tony Cabot, Innovation Group COO Kim Arnold and iGaming
industry veterans Mark Balestra and Sue Schneider.
In 2013, the iGaming North America conference achieved revenues
of approximately $0.5m USD. The deal allows iGB to share in future
profit growth above an agreed threshold and also gives each party a
call option to acquire the others' membership interest at a future
date.
Julian Turner, EW's Chief Executive, commented: "The regulatory
changes which continue to unfold in the USA make it a very
interesting market for our online gaming information business. This
deal builds on the launch of our iGaming North America magazine in
2012 and gives us a great opportunity to extend the brand
further."
ENDS
Enquiries
Julian Turner, Chief Executive, Electric Word 020 7954 3443
Andrew Potts, Panmure Gordon 020 7886 2500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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