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Media Corp Directorate change and sells off asset

Wednesday February 6,2013 : HRMC INSURANCE LIABILITY FOR MEDIA CORP (Update)
 
Directorate change and sells off publishing asset
 
Media Corporation PLC, the owner of the now defunct Purple Lounge, has announced the resignation from the board of Mark Butt following the placing into administration of Eyeconomy Ltd .
 
The firm also said it had sold off its publishing asset onthebox.com for GBP 75 000 as it didn’t consider it a core asset and one that would have needed further investment for growth.  Media Corp’s directors felt such investment would be better spent on the development and impending launch of its Intabet platform.
 
The board has its work cut out for it as Media Corp deals with Her Majesty's Revenue and Customs (HRMC) following the discovery of a potential liability with regard to previously unpaid National Insurance.
 
The amount outstanding covers the period prior to 2010 during which time former directors (and others), of the Company were paid by the Company as consultants to the Group where they should have in fact been treated as employees and the associated National Insurance paid by both the employer and employee to HMRC.
 
The full extent of the liability is unknown at present but the company said it is working together with the HRMC to set up a workable payment programme.
 
Phil Jackson, Chairman, commented: "I am very pleased to have realised some cash out of an underperforming asset like Onthebox and the funds will help us achieve our goal of launching the Intabet platform.
 
“To this end we are in discussions with a number of parties who have shown an interest to licence part of our technology which would enable us to start generating revenues from our technology and allow us to start to move forward despite the continued legacy issues from the previous management such as that with HMRC."

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Gambling News :

Tain Fast Bet - Our readers will recall Tain recently increased the number of live events it covers each month to 23,000, covering both traditional markets such as football, tennis and US sports and the more obscure curling, biathlon and Water Polo.

Olympic Entertainment Group Mobile Gaming - In its full-year 2016 report, Olympic Entertainment Group (OEG) has informed the establishment of a Malta-based company registered to facilitate its intended expansion into remote gambling.

Circus Evolution HD Slot - Malta-based content provider World Match has released its first title of 2017, “Circus Evolution HD”, a 5-reel, 3-row, circus-themed adventure offering Free Spins, Wilds and a Bonus Game.

Kindred Group Gets EU Recommendation on Consumer Protection - Kindred Group (formerly Unibet) has become the first operator to successfully meet the requirements of the EU Recommendation on Consumer Protection and Responsible Gambling following an external audit.

17 Crown people still detained - Reports from China over the weekend suggest that the 17 Crown people still detained could be looking at another twelve months of imprisonment as investigations into their alleged and still unspecified crimes drag on

SB1400 Virginia Poker Skill Game Bill - Her bill SB1400 is currently with the Senate General Laws and Technology Committee, whose 15 members will decide whether to progress it or condemn the Senator to another year of failure.

Pennsylvania Video Gaming Association - With the focus on Pennsylvania as the most likely next US state to legalize online gambling as part of a general gambling expansion measure, reporters noted this week the emergence of a new lobbying group in the state - the Pennsylvania Video Gaming Association.

Stiffer Problem Gambling Penalties in UK - The Guardian newspaper reports that the UK Gambling Commission plans to unveil new enforcement strategies on problem gambling and money laundering prevention this month, laying down tougher penalties for operators who fail to tackle these issues.

Malaysian police Destroy over 5000 Gambling Computers - Malaysian police in Kajang have destroyed 5,042 computer sets seized in online gambling raids over the past two years, explaining that the action is designed to take the machines out of circulation.

Spartan Poker vs SpartanPoker name War - Pokerguru, which owns the brand SpartanPoker.com, has threatened to sue the Indian Poker Championship over its use of the title Spartan Poker, and recently published a notification that it is not associated with the IPC version of the brand.

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