Indecisive future Poker Channel and Poker Heaven
Both Poker Channel and Poker Heaven are owned by Gaming Media Group. The Daily Telegraph reports that the British internet gambling firm considers to sell both companies. Cavendish Corporate Finance has been appointed to review the future options. Several trade buyers have approached the online gambling firm, according to the UK newspaper. Poker Channel was established in 2005 and is expected to post earnings of €365.521 on a €1.571.009 turnover this financial year.
Specialist poker programs
Poker Channel offers specialist poker programs. The programming features cash games, internet tournament coverage, branded tutorial programs, live coverage of global tourneys, player interviews and daily news updates.
Sister company Poker Heaven has become a flourishing Europe-facing online poker operation. It should generate revenues of €11.834.939 and earnings of €1.571.009 in 2010.
There may be many interested companies, including leading operators like 888 and Party Gaming. Gambling groups such as Paddy Power, Full Tilt Poker and Ladbrokes could also be potential buyers.
Cavendish Corporate Finance
Paul Herman, a partner at Cavendish Corporate Finance, didn’t reveal the identity of the bidders. He noted that particularly Asian and overseas parties have shown interest.