Electric Word plc’s online gaming business iGB has acquired a 50% interest in SAM Media Ltd, a Nevada-based conference business that owns the annual iGaming North America conference. Electric Word’s interest is held through iGB’s wholly owned US subsidiary, iGamingBusiness North America Inc., a Delaware Corporation, and was acquired for a nominal sum.
In 2013, the iGaming North America conference achieved revenues of approximately $0.5m. The deal allows iGB to share in future profit growth above an agreed threshold and also gives each party a call option to acquire the others’ membership interest at a future date.
Julian Turner, EW’s Chief Executive, said: “The regulatory changes which continue to unfold in the USA make it a very interesting market for our online gaming information business. This deal builds on the launch of our iGaming North America magazine in 2012 and gives us a great opportunity to extend the brand further.”
UK, London and USA, Nevada