Purple Lounge Acquired for £0.47 MillionOnline Poker and Gaming Site Bought By Media Corporation Plc |
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Purple Lounge, the online poker and gaming site, has been bought by AIM-quoted company Media Corporation for £0.465 million which is payable over five years.
In the year to May 31, 2008, Purple Lounge made a pre-tax loss of £476,670 on the back of revenues of £16,472,620. Its net assets at this time were -£685,000.
Purple Lounge operates out of Malta, a white-listed jurisdiction, allowing Media Corporation, which owns Gambling.com and Sport.co.uk, to use the site to help monetize its UK assets.
Purple Lounge’s poker room is on the Microgaming network.
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