Online Casino Transfer: News - New Owners for Challenge Jackpot

04/12/2010		Online Casino Style: News New Owners for Challenge Jackpot
Home History Games News Dictionary		Though the online gambling division of the Virgin corporation has seen more than its fair share of success in the recent months, Virgin Media Television will be giving up their current Challenge Jackpot database to new operators through NetPlay TV. The new owners, known primarily for the huge leaps and bounds they’ve made with interactive television and betting, has reportedly paid a net sum of £1.82 million for the rights to the brand, taking control of the product this week. Based in the UK, NetPlay TV has named its most recent acquisition as the next step in achieving the firm’s long-term goals in terms of diversification and growth. They went on record last year as saying that NetPlay TV had a goal of becoming the UK’s leading broadcasting channel for gaming experiences, wanting to take it to the next level by offering a wide range of gaming products, well past sports bets and horse racing. And so NetPlay moves to more fully represent the whole of the online gambling community. A company spokesman said that the agreement between NetPlay and Virgin signed in April of last year has now been revised, stipulating that the new terms of the deal no longer include options for Virgin to own 14.9 million shares in NetPlay. Apparently, cash money was a greater priority in the contract’s revision. The new contract says that NetPlay TV will take control of the existing Challenge Jackpot database, which generated more than £2.9 million in gross gaming margin from mid-May to the end of December last year. "The revised terms of this deal allow us to invest in the future development of the Challenge Jackpot brand, as well as the ability to extend it onto other channels,” said Martin Higginson, the Chief executive officer for NetPlay. "We see Challenge Jackpot as the mass market gaming channel in our portfolio, with something for everyone. Over the coming months we will introduce more live TV games allowing us to broadcast to wider audiences at peak times.”

04/12/2010

Online Casino Style: News
New Owners for Challenge Jackpot

Though the online gambling division of the Virgin corporation has seen more than its fair share of success in the recent months, Virgin Media Television will be giving up their current Challenge Jackpot database to new operators through NetPlay TV. The new owners, known primarily for the huge leaps and bounds they’ve made with interactive television and betting, has reportedly paid a net sum of £1.82 million for the rights to the brand, taking control of the product this week.

Based in the UK, NetPlay TV has named its most recent acquisition as the next step in achieving the firm’s long-term goals in terms of diversification and growth. They went on record last year as saying that NetPlay TV had a goal of becoming the UK’s leading broadcasting channel for gaming experiences, wanting to take it to the next level by offering a wide range of gaming products, well past sports bets and horse racing.

And so NetPlay moves to more fully represent the whole of the online gambling community. A company spokesman said that the agreement between NetPlay and Virgin signed in April of last year has now been revised, stipulating that the new terms of the deal no longer include options for Virgin to own 14.9 million shares in NetPlay. Apparently, cash money was a greater priority in the contract’s revision.

The new contract says that NetPlay TV will take control of the existing Challenge Jackpot database, which generated more than £2.9 million in gross gaming margin from mid-May to the end of December last year.

"The revised terms of this deal allow us to invest in the future development of the Challenge Jackpot brand, as well as the ability to extend it onto other channels,” said Martin Higginson, the Chief executive officer for NetPlay. "We see Challenge Jackpot as the mass market gaming channel in our portfolio, with something for everyone. Over the coming months we will introduce more live TV games allowing us to broadcast to wider audiences at peak times.”