|Interactive Gaming Holdings announced its flotation on London’s Alternative Investment market (AIM) to fund the addition of more websites to add to its network of online gambling and betting operations.|
The company will also announce it has bought the gambling portal Gambling.com. IGH's wants to position itself as a one-stop betting destination. It has an existing network of over 1,100 gaming related portals, online casino sites and bingo sites.
The business model is a revenue sharing deal whereby IGH utilizes 'white label' contracts. This means other operators allow IGH to present their websites as its own, for a share of the proceeds. The flotation of half the company is expected to net about £8 million ($).
About £500,000 ($839,545) of the £4 million ($6,716,000) from the flotation got towards the acquisition of Gambling.com, which includes £2.5 million ($4,197,530) cash.
IGH is a new company, which was established to acquire other e-gaming websites, and it hopes to benefit from high-profile domain names to attract advertising revenue.
IGH executives include executive chairman Craig Marshak, who co-founded CV Holding, the developer of the BetheDealer online casino software, and managing director Thomas Taulé. Taulé was previously chief executive and co-founder of iSleuth.com, a Nasdaq-listed search engine company. Taulé said: 'We've created a prime vehicle to move forward and embark on consolidation within the sector.'