WEBMASTER NEWS
GAMING REALMS TO OFFLOAD BINGO GODZ
AND CASTLE JACKPOT
INTERNET GAMING products publisher
Gaming Realms has conditionally
agreed to sell all associated assets of its
Bingo Godz and Castle Jackpot brands
to European Domain Management, the
marketing company behind a number of
online bingo brands in Europe.
Under the asset sale and purchase
agreement, Gaming Realms will receive
a total consideration of £500,000
(€691,000/$735,000) in cash for
the brands.
The consideration will be satisfied by
a payment of £200,000 in cash, with a
further £300,000 paid in cash over the next
17 months.
Gaming Realms plans to reinvest the
funds into SpinGenie, which sits on its own
proprietary platform.
Operated by IP&S Limited, Bingo Godz
and Castle Jackpot made losses totalling
£2.1 million in the 12 months ended
September 30, 2014.
Patrick Southon chief executive officer
of Gaming Realms, said: “With the
successful launch of our own platform
and the great growth we are seeing on
Sp