BULGARIA HOLDS NO FEARS FOR GAMING MEDIA GROUP
13 November 2009
Gambling taxes may be going up, but UK
company invests in affiliate company
Bulgarian gambling operators may be concerned about
government plans to increase taxation (see previous
InfoPowa reports) but at least one UK company is
undeterred at the prospect.
Gaming Media Group,
which counts Poker Heaven.com and Poker Channel among
its subsidiaries, announced this week that it has
acquired 49 percent of Bulgarian poker affiliate
marketing site Igrach.com, and signed a Bulgarian
distribution deal for the Poker Channel.
Igrach
is arguably the biggest poker affiliate operator in
Bulgaria, and the performance-oriented deal values the
business at between Euro 1.5 million and Euro 1.9
million, with an option to buy the remaining 51 percent
in the future. It is understood that Gaming Media will
pay for the acquisition with cash and a package of
services that include marketing and infrastructural
assistance.
Poker Channel's managing director,
Chris White, will hold executive responsibility for the
new acquisition. In a parallel deal, Poker Channel
has agreed terms with Bulgarian cable operator Megalan
to carry the Channel in its digital basic package, with
other major operators in the pipeline for the first
quarter of 2010.
Gaming Media CEO Crispin
Nieboer described the acquisition as a first step in his
group's strategy of expanding its online affiliate
business by making acquisitions in high-growth markets.
“Igrach.com has succeeded in building a valuable
share of the online poker community in a territory that
is experiencing significant growth," Nieboer said.
"Through our TV exposure in Bulgaria, and by providing
investment and infrastructure, we will help drive
Igrach.com’s further growth in Bulgaria and adjacent
territories.”
Online Casino News Courtesy of
Infopowa
More news here.
Top of page |
Home |
News |
Forum |
Webcast |
Vortran |
Accredited Casinos |
Evil Ones |
Pitch a Bitch |
Online Gambling Resources |
Poker
|