The Poker Channel and PokerHeaven.com For SaleGaming Media Group Exploring Trade Sale of Poker Businesses |
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Gaming Media Group, which owns The Poker Channel and PokerHeaven.com is exploring options for the sale of both its businesses according to Telegraph.com.
The British newspaper reports that Cavendish Corporate Finance has been appointed to handle the sale after the company received several unsolicited approaches from trade buyers.
The company was started in 2005 backed by venture capitalists and PokerHeaven.com is reported to generate revenues of £11.3 million while The Poker Channel turns over around £1.5 million.
The businesses are believed to be worth around of £25 million a spokesman from Cavendish told the Telegraph that considerable interest had been seen from Asia and overseas while the newspaper speculated that the likes of Full Tilt, 888 Holdings, PartyGaming, Ladbrokes and Paddy Power could be interested.
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