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Media Corp Purchases Purple Lounge Online Gambling
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Media Corporation, one of the UK’s leading companies in internet media that focuses mainly on online advertising and website publishing, has announced that it has purchased all shares of the Purple Lounge Ltd for approximately 465,000 GBP.
The purchase of Purple Lounge will improve Media Corp’s chances of increasing its services to casino operations and online poker rooms. Media Corporation was founded in March 2000 and is listed on the London Stock Exchange.
Purple Lounge is operated in Malta which will enable Media Corp to market their gaming services in the United Kingdom. The site offers online poker, sports betting, table games and various other casino games.
Chris Gorman, chairman of Purple Lounge and a well known entrepreneur, has joined the board as a non executive director of Media Corp.
Media Corporation’s aim is to create a technology focused internet media group and it is confident that the acquisition of Purple Lounge will help to achieve this goal.
At present Media Corporation earns between two and three million GBP yearly from its’ marketing activities.
Justin Drummond, Chief Executive Officer of Media Corp based in London UK announced that he was thrilled with the acquisition of Purple Lounge and reported that it was important for Purple Lounge to receive the inflow of cash in order to market and maintain its’ excellent levels of customer retention.
Another company owned by Media Corp is Gambling.com which it purchased for ten million GBP. Media Corp is hoping that there will be an end to the ban on online gambling in the US so that it can create a profitable business by combining its’ marketing with Purple Lounge’s operational online gaming.
