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Clarion Events Acquires 70 percent of iGaming Business
Friday December 18,2015 : CLARION EVENTS ACQUIRES 70 PERCENT OF U.K. MEDIA AND EVENTS FIRM
iGaming Business management to remain with the company.
Online gambling events organiser Clarion Events has announced the acquisition of 70 percent of iGaming Business, a media and events company founded by Michael Caselli and controlled by Electric Word plc.
Clarion will also buy a further 5.1 percent from founder Caselli, who will retain the remainder of the shares, in a deal that values the company at GBP 19.7 million.
Caselli and the management team at iGaming Business will remain with the company, moving to its premises in southwest London next year.
The gaming interests of Electric Word generated 2014 revenues of GBP 5.4 million and 2014 EBITDA of GBP 2 million, according to documents associated with the deal.
Clarion’s Gaming m.d., Kate Chambers said that Clarion already works closely with iGaming Business and the acquisition will enable the company to combine the strengths within the two groups.
Caselli said that the goal of both companies was to facilitate business with the gaming industry through interaction and information, and the agreement benefits all concerned.
Julian Turner, CEO of Electric Word, said the sale of iGaming Business to Clarion was at an attractive valuation after ten years as part of Electric Word.
"I strongly believe that both they and the business will continue to thrive under Clarion’s ownership,” he said.
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Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
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The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
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2 New Slots For Microgaming Casinos -
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The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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