Media Corp shares boosted by BoxNation deal
Share price rises 25% after signing deal to supply white label gaming solution to boxing TV channel.
Media Corp has entered an agreement to supply a white label egaming solution to Boxing Channel Media Ltd “ a deal which has contributed to a 25% rise in the company’s share price.
Media Corp shares have risen 0.03p to 0.15p on the back of the announcement, which centres around the BoxNation TV channel, and becomes the company’s first white label deal. Under the terms of the three-year agreement, Media Corp will supply an online sportsbook and casino via its Intabet platform, which will be integrated onto the BoxNation website.
The company’s chairman Phil Jackson explained that the deal “represents the first application of [its] white label service.”
“BoxNation has a large and growing subscriber base and we believe boxing and betting go hand in hand and we are looking forward to developing a profitable and long term relationship with BoxNation as they grow into a leading sports channel around the world,” Jackson said.
BoxNation chairman Richard Brooke added: “This is a major step forward for BoxNation as Media Corp have a strong casino and sportsbook platform and we are pleased to be part of this enterprise. We believe this is something our customers will enjoy and it can grow to be a significant part of our offering.”
Intabet was acquired in May 2012, around the time Gaming Media Group pulled out of reverse takeover talks with the corporation, and after initially being scheduled to launch in time for the 2012-13 European football season, has seen the launch date continually pushed back. Today’s announcement came with no indication as to whether the platform will launch on schedule, currently set for 22 April, when it is expected to launch its Betcomparer and Mobet B2C brands.
As a result of the delays in launching the platform, Media Corp has said that it will look to “accelerate the commercialisation process” for the asset by appointing resellers who will be allowed to operate the platform for white-label partners or license the software to operators.
The launch of Intabet will see Media Corp change its name to Inta Plc after a troubled 2012 which saw its Malta-licensed poker and casino subsidiary Purple Lounge placed into liquidation, while the company’s chairman, CEO and interim CEO all departed.