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IGH-Sportingbet

Discussion in 'Casino Industry Discussion' started by jetset, Apr 20, 2004.

    Apr 20, 2004
  1. jetset

    jetset Ueber Meister CAG

    Occupation:
    Senior Partner, InfoPowa News Service
    Location:
    Earth
    It appears that IGH is still in there batting, and has teamed with Sportingbet. The last we heard of IGH was their aborted attempt to buy Gambling.com from Graeme Levin late last year. We have heard nothing further on their at that time failed attempt to get an AIM listing.

    The Gambling.com sale was lost to IGH when they could not come up with the cash, and Levin eventually did a management takeover deal. InfoPowa reported as follows at the time:

    "In October last year a little known portal group called Interactive Gaming Holdings announced that it was to take over Gambling.com for an impressive purchase price of GBP 2.5 million.

    "The deal was that GBP 500 000 would be in cash but the remainder would presumably be in the form of equity or profit sharing once the company has successfully been floated on the Alternative Investment Market (AIM) in London, England. IGH hoped to raise some GBP 8 million through this listing, enabling it to add more websites to its network of online gambling and betting operations.

    "IGH's goal was to become a one-stop destination for online bettors, and despite its low profile claimed already to control over 1100 gaming related sites. Driving the IGH listing project as chairman was experienced online gambling executive Craig Marshak, a former director of Schroders and the co-founder of CV Holdings, the developer of the successful Be The Dealer private label casino gambling platform."

    LONDON (Reuters)

    Interactive Gaming Holdings says it has entered into a revenue-sharing deal on one of its 1,100 gaming Internet sites with leading online betting firm Sportingbet.

    IGH said on Monday that Sportingbet, which has over one million customers, would operate betting on its oneworldsportbook.com Web site in return for a monthly payment based on net revenue.

    IGH does not take any bets on its Web sites itself and is therefore not exposed to the financial risks, a spokesman said. It derives its income from running back-end operations and from advertising revenue.
     

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