ELE.L Regulatory News (ELE)

8 November 2013

Electric Word plc

IGaming partnership

Electric Word plc ("EW") is pleased to announce a new partnership between its online gaming business ("iGB") and iGaming North America, a Nevada-based conference business.

iGB has acquired a 50% interest in SAM Media Ltd, the membership company that owns the annual iGaming North America conference. EW's interest is held through iGB's wholly owned US subsidiary, iGamingBusiness North America Inc., a Delaware Corporation, and was acquired for a nominal consideration. iGB will bring the experience of its successful European conference business to the expertise of the existing SAM Media team made up of renowned Nevada gaming attorney Tony Cabot, Innovation Group COO Kim Arnold and iGaming industry veterans Mark Balestra and Sue Schneider. 

In 2013, the iGaming North America conference achieved revenues of approximately $0.5m USD. 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, commented: "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."

ENDS

Enquiries

Julian Turner, Chief Executive, Electric Word 020 7954 3443

Andrew Potts, Panmure Gordon 020 7886 2500