by Ryan D. Jaeger
Another major sale of a successful gaming group may be on the horizon,
according to the Telegraph online.
The publication reports that the Gaming Media Group, which owns the
successful Poker Channel and the online poker group, PokerHeaven.com is
up for sale.
The Gaming Media Group has appointed Cavendish Corporate Finance to handle a
potential sale.
The decision to sell the company's interests came after GMG received
unsolicited approaches from buyers who stated their interest in taking control
of the group.
Cavendish Corporate Finance told the Telegraph that the businesses
incorporated in the Gaming Media Group are worth around £25 million.
The Poker Channel has daily broadcasts that cover the poker industry,
and provides a wide range of quality shows, interviews, news and cash games.
This media channel generates around £350,000 in profits.
UK poker fans are also familiar with the other brand in the group, Poker
Heaven, which generates revenues of £11.3 million a year.
It is estimated that PokerHeaven.com will generate earnings of £1.5
million this year.
The Telegraph was told that there has been substantial interest from gaming
groups from the Asian market who wish to buy the Gaming Media Group.
However, if a bidding war picks up, possible contenders may be those groups
seeking to strengthen their UK and European footholds, including Party Gaming,
888 Holdings or even Full Tilt Poker.
