MediaCorp subsidiary in Totepool deal
Betfred brand signs up as launch partner of Intabet " no mention of Purple Lounge in trading update.
Media Corporation’s egaming subsidiary Intabet has signed up Betfred-owned totepool.com as a partner for its impending launch, the AIM-listed company has confirmed in a trading update today.
The sports betting partner became part of the Betfred group when the Gibraltar-based operator acquired the Tote in June 2011 in a deal worth an eventual £265m.
Intabet is due to launch ahead of the start of the English Premier League season next week after being incorporated by MediaCorp in May, while MediaCorp’s chairman Phil Jackson and interim CEO Adam Fraser-Harris both had ties to the company before its acquisition. They replaced former incumbents Jason Drummond and Sara Vincent respectively, while MediaCorp’s last permanent CEO, Justin Drummond, stepped down in February.
The sports betting site is set to replace Purple Lounge as the flagship gaming offering of MediaCorp, following the decision in May to place it into liquidation. Baker Tilly, for whom Fraser-Harris spent three years as corporate finance director, have been appointed as liquidators.
Today’s trading update carried no mention of Purple Lounge, but it did detail an exclusive advertising rights deal between the company’s advertising arm Eyeconomy and Digital Sports Group, whose portfolio includes domains such as football.co.uk and rugby.co.uk.
Last week saw Eyeconomy managing director Mark Butt appointed to the board of MediaCorp, while Clive Eplett replaced Nilesh Jagatia as the company’s head of finance.