Casinos.co.uk: Casino News Archive
Thursday 6th May 2004
Eyeconomy acquisition by Gaming Corp to boost business
Gaming Corp, owner of UK casino portal www.casino.co.uk issued 20,000,000 New Ordinary Shares to acquire Eyeconomy in a £0.6m takeover bid.
Gaming Corp says it hopes to increase business by utilising Eyeconomy’s top online marketing team and best in-class systems.
“The objective of the acquisition is simple - to drive traffic to our gaming assets. That is what Eyeconomy will do, and in a cost-efficient manner,” said Chief Executive of Gaming Corporation plc, Justin Drummond.
Eyeconomy’s profitable track record in strategic marketing services includes expertise in online media planning and buying, as well as managing online media campaigns for companies including Betfair, EBay and Multimap.
The acquisition is a natural move for Eyeconomy whose strong growth in the past 3 years has seen a reported turnover of over £1.4 Million, an operating profit of £0.2 Million and generated net cash inflows of £0.35 Million in 2003.
“During the past three years Eyeconomy has been a fast growing, profitable and very exciting business. Merging the online advertising and marketing expertise with Gaming Corp’s online assets will be a winning combination,” said Chairman of Eyeconomy Holdings plc, Paul Mcgroary.
The Eyeconomy acquisition follows a spurt of growth for Gaming Corp, which has recently expanded its operations with a state of the art online casino, play.casino.co.uk and poker network, poker.casino.co.uk.
Source:OnlineCasinoNews
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