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Gaming Media Group in Bulgaria
 November 8, 2009, 11:27 am (2 years ago)Government in Bulgaria planning to raise the amount of tax is becoming a threat to Bulgarian gambling operators but at least one UK Company is undeterred at the scene.
Gaming Media Group, which holds Poker Heaven.com and Poker Channel amongst its affiliated companies, revealed this week that it has gained 49 % of Bulgarian poker affiliate marketing site Igrach.com, and penned a Bulgarian distribution agreement for the Poker Channel.
Igrach, one of the biggest poker affiliate operator in Bulgaria, and the performance-oriented deal values the business at between Euro 1.5 million and Euro 1.9 million, with an option to purchase the remaining 51 % at some point. Gaming Media is going to pay for the takeover with cash and a package of services that has marketing and infrastructural assistance.
Poker Channel’s managing director, Chris White, is going to manage executive responsibility for the latest acquisition. In this deal, Poker Channelhas consented terms with Bulgarian cable operator Megalan to take the Channel in its digital basic package, with further key operators in the pipeline for the first quarter of 2010.
Gaming Media CEO Crispin Nieboer defined the acquisition as an initial step in his group’s plan of augmenting its online affiliate business by making acquisitions in high-performing markets.
“Igrach.com has built an important share of the online poker community in a field that is experiencing momentous growth,” Nieboer explained. “Through our TV introduction in Bulgaria, and by offering investment and infrastructure, we are going to assist drive Igrach.com’s additional development in Bulgaria and adjoining territories.”
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