|The Money Gaming Corporation Ltd (TMGC), has announced an equity investment by IPGL Ltd. The deal sees IPGL acquire a 30% stake in the business and a place on the board of directors. It is hoped the deal will allow TMNGC to further develop their skill gaming operations. |
'We are delighted that IPGL has chosen to invest in TMGC's vision for the future of online gaming,” said Liad Shababo, co-founder and CEO of The Money Gaming Corporation Ltd. “The industry needs to wake up to the demands of online players looking for an enhanced gaming experience, a fairer playing field and increased accessibility.'
The new director’s position will be filled by Ronnie Armist, a director of IPGL (and formerly managing director of the Swiss private bank, Lombard Odier).
'We are very pleased to have reached agreement with TMGC at this exciting time for the company,” Armist said. “TMGC enjoys a strong market position and a rapidly expanding customer base. Our aim is to combine IPGL's strengths in growing young companies into big players with TMGC's ambition to reshape the online gaming industry and be amongst the first to fully exploit the skill gaming market worldwide.”