In the constant game of the online casino and wagering business, companies are always making deals to update, improve, absorb, acquire and affiliate themselves. It is not unlike the stories you hear coming out of Wall Street. The goal is maximum exposure. The prize is hoards of loyal customers and advertising revenue. Even though it is common place to hear of deals being made everyday, it is always news worthy, as it directly affects the online casino markets and influences other deals that have yet to be penned.
Recently the online publishing group, Media Corporation, announced to the online casino community that it has an intention to buy PurpleLounge.com. Purple Lounge is an internet casino and poker site currently based in The United Kingdom. The reason is upgrade and improvement. Justin Drummond who is the Chief Executive Officer for Media Corporation said, “Historically, we have never really had the gaming experience and the software was okay but not top level. This deal allows us that expertise and the excellent Microgaming software while, for PurpleLounge.com, which has great customer retention management but is less good at attracting new players than retaining new ones, this will allow Media Corporation to drive new customers.”
New customers are the prize. Purple Lounge has online poker, casino and sports wagering products in Malta’s highly sought after online gambling jurisdiction. This would give Media Corporation the ability to market its online gambling site, Gambling.com in The United Kingdom.
Mr. Drummond continued, “This is a very synergistic deal.” He also stated that he would raise Purple Lounge’s turnover of £16.5 million (over $27 million US) to somewhere between £50 million (over $81.9 million US) and £100 million (well over $163 million US) within the next two years. Drummond and the rest of the Media Corporation hopes that “…by combining our marketing expertise with Purple-Lounge.com‘s operational online gaming experience, we hope to create a very profitable business.” Media Corporation also announced that Chris Gorman who is the current Chairman for Purple Lounge would join its board as a Non-Executive Director.
