Online Casino Company Sells 30 Percent of Itself

16 July 2008

News> News Archive> 2006> June> Online Casino Company Sells 30 Percent of Itself

8 Jun 2006

The Money Gaming Corporation, a leading online backgammon firm and online casino, has recently sold a 30 percent stake in the company to the money-man behind the famous ICAP money-brokering firm, Michael Spencer. According to media reports, Spencer used a privately owned entity, IPGL, in which he also holds stakes in various media companies, fund management groups and City Index, a spread-betting firm. It seems this businessman got a good chunk of the online casino industry's future by buying into backgammon, the newest game to sweep the world of online gambling.

The online backgammon firm and online casino was founded by Jonathan Caplan and Liad Shababo two years ago, offering web-users and online casino members a variety of games in addition to backgammon. These online casino games included mahjong, chess, Othello, gin rummy, snooker, virtual pool, and Connect 4. On the actual site, online gamblers play each other for real money, with the company claiming a rake of the bets placed.

With such success providing these different, but well-received online casino games, subject to successful bids for licensing, other branded games like Monopoly and Scrabble could also follow. This information was revealed by a company spokesman for the online casino and backgammon firm. With so much to offer, and business continuing to prosper, this company is definitely beginning to make its mark in the online gambling world.