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MEDIA CORP. ACQUIRES PURPLE LOUNGE ONLINE CASINO

10/13/09 - The Microgaming-powered and eCOGRA-accredited tier one online gambling operations of Purple Lounge Limited have been acquired by Justin Drummond's London-based Media Corporation for GBP 465 000.
 
The consideration will be satisfied by way of an earn-out, payable over a period of up to 5 years, with payment calculated as 50 percent of the quarterly free cash flows generated by Purple Lounge, and can be satisfied by either cash or shares at the option of Media Corp. 

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Purple Lounge operates the internet gambling site www.purplelounge.com, which offers poker, card and casino games, along with sports betting. In the year to 31 May 2008, Purple Lounge made a pre-tax loss of GBP 476 670 on revenues of GBP 16 472 620. As at 31 May 2008, net assets were (GBP 685 000).
 
Purple Lounge operates its poker and casino activities from Malta, which is a white-listed jurisdiction. Following the acquisition, Media Corp will be able to market its gaming services to the United Kingdom, Drummond advised in a publi statement this week.
 
Drummond says that Media Corp expects Purple Lounge’s costs to be significantly reduced following the acquisition, which will assist Media Corp in monetising principal publishing assets such as Gambling.com and Sport.co.uk and allow Media Corp to mobilise its marketing expertise to grow the enlarged business.
 
Following completion of the acquisition, the chairman of Purple Lounge, Chris Gorman, OBE, has joined the Media Corp. board of directors as a non-executive director with immediate effect. Gorman (42) was a significant shareholder in Purple Lounge, and has received numerous business awards for entrepreneurialism. He will remain on the board of Purple Lounge on the understanding that his appointment may be terminated on one month's notice.
 
Commenting on the acquisition and the appointment of Gorman, Media Corp chief executive Justin Drummond said: “The acquisition of Purple Lounge will be a great addition to our growing list of impressive destination websites. In particular, it will bring a significant business to our leading website Gambling.com. By combining our marketing expertise with Purple Lounge's operational online gaming experience we hope to create a very profitable business going forward.
 
“Another benefit for new and existing customers is that Purple Lounge’s premium players gain free membership to personal concierge and luxury life style group Quintessentially. This is a unique service that, to our knowledge, no other online gaming company offers.
 
“In addition, we are delighted to welcome Chris Gorman onto our Board as a Non-Executive Director. Chris was a significant shareholder and Director of Purple Lounge. He has a wealth of experience, particularly in the online sector. We are delighted to have someone of such calibre and talent join us on the Board.
 
“Chris has been a leading light in both retail and technology businesses over the past 10 years, and is one of the UK's most respected and knowledgeable business visionaries. His award winning track record includes the monumental rise of mobile phone retailer, DX Communications, which sold its 140 stores to BT Cellnet for £42 million in 1998; and Reality Group, an internet services company, sold in 2000 after just 14 months of trading to GUS for £35 million.
 
"Chris now actively invests and is involved in several businesses maximising his strategic visioning and business development expertise. Epitomising serial entrepreneurship, he is widely recognised for his sharp commercial focus and is in much demand for his advice and comment, supporting schools, universities and business forums on the subject of entrepreneurialism and motivation.”



Gambling News :

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - 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.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - 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 - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - 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.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

Mega Moolah Jackpot Hits on 9/27/2017 - Another millionaire made on Microgaming’s Mega Moolah; 5th largest Microgaming payout

Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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