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Empire Takes Over Assets of Club Dice and Noble Poker. 2005-08-03
Empire also recently announced its financial results for the first half of this year at a net profit of $25.5 million, and revenue at $49.7 million. This all came at the time when the database and assets of Club Dice, and Noble Poker were top of subject matter. Now it is announced that Empire has acquired the database and assets for $40 million.
CEO of Empire Online, Noam Lanier said the development came around the same time that Andrew Brant was brought in as a consultant to M & A. Empire announced today that they have acquired the database, intellectual property, and brands of Club Dice and Noble Poker. Licensing for Playtech was also part of the $40 million deal.
Established in 2001, Club Dice has built three casinos, one bingo, with a database of over 70,000 customers. The recent purchase includes: licensing of Playtech, the database, property, and brands, as well as four other platforms. Empire mentioned that Club Dice had show a growth in revenue and profit lately, and they had to jump on that band wagon. Lanier of Empire couldn�t be more pleased.
Empire is playing business well, and it has shown its working since June�s endeavor. Since going public their stock rose 35% in order to reach $1.2 billion. It�s a big leap in the first two month period, and Empire is very proud.
(By Andrea)