Battle of Malta poker tournament divested to concentrate on core business
Net Gaming’s Highlight Media business area has entered into an agreement to sell the concept, trademark and domain name for the “Battle of Malta” poker tournament, which has been successfully operated by PokerListings over the last six years. The purchase price is €300,000.
“We are pleased with the sale. For Highlight Media, it is important to focus on our main business, which is operating high-quality comparison sites online. Highlight Media has successfully made Battle of Malta one of Europe’s largest poker tournaments in its segment and we feel that another owner can take the event to the next level. At the same time, we also intend to enter into a marketing agreement with the buyer in due course, whereby Battle of Malta will market its 2018 event on PokerListings.com. This will enable us to maintain our revenue for the event, while also helping to promote the tournament's further growth,” comments Erik Gjerde, CEO Highlight Media.
Battle of Malta contributed only marginally to Net Gaming's revenue and profit last year.
The buyer is Casino Malta Limited. In last year’s Battle of Malta, the number of players in the main event was 2,074, with a prize pool of over €1m.
For further information, please contact:
Marcus Teilman, President and CEO
+356 9936 7352
Net Gaming Europe AB (publ)
Telephone: +46 8 410 380 44
The information in this press release is information that Net Gaming Europe AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation and, where applicable, the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was provided by the contact person above for publication on 13 February 2018 at 08.30 CET.