Clarion Returns to Publishing with New BenefitsPublished December 22, 2015 by Lee R
Affiliate trade shows, new markets and iGB founder Michael Caselli are beneficiaries.
Clarion is expanding with a big acquisition.
Word has come out that Clarion Events is in advanced talks to acquire Electric Word Plc's iGaming Business from Electric Word Plc.
The £19.7m deal calls for Clarion to take control of the 70% share currently held by Electric Word and acquire an additional 5.1% from iGaming Business founder Michael Caselli, who will retain the remainder of the shares.
For 2014, Electric Word's iGaming Interests of generated revenues of £5.4 million and a 2014 EBITDA of £2.0 million after central cost allocation.
The iGaming Holding
As for the acquisition, iGaming Business has blazed a trail by providing high level information to the online gaming and affiliate marketing sectors through a high-powered PR network of organization magazines, events, websites and reports, along with three annual Affiliate Conferences taking place in London, Berlin and Amsterdam.
Clarion Gaming MD Kate Chambers, who has developed other huge brands of today including ICE Totally Gaming, EiG and GiGse expressed her company's excitement with the new deal, lauding the role of Alex Pratt and Michael Caselli in leading the iGaming Business team's establishment of what she called an “important niche within the online gaming space.” According to Chambers, the complementary strengths of the organization were a huge benefit of the deal.
Caselli lauded the partnership because the companies will be able to coordinate efforts to further develop and “facilitate business through information and interaction in the gaming industry.”
Pratt further explained that the partnership would add value to the current brands of iGaming Business while bringing new products to emerging markets and commensurately enhancing the quality of the annual affiliate events.
Chief Executive Julian Turner, Electric Word expressed his delight with the attractiveness of the valuation, which represents Clarion gaming division's second foray into trade magazine publishing, after previously being owned by Coinslot International, International Casino Review and Betting Business interactive.