SBC News Voice of the Sports Betting Industry
AIM listed Media Corporation the owners of Intabet have announced that they will cease operation and investment of its Intabet sports betting platform. After a review into its sports betting platform and technology, directors at Media Corporation concluded that future investment in Intabet technologies would no longer be viable and Intabet operations did not fit with Media Corporation Plc plans.
The directors concluded that the impact of increasing technology, hosting and operating charges on the Company’s limited financial resources, coupled with the inability of the Company to obtain an appropriate Gaming License in its own right are proving prohibitive to the Company being able to launch the Intabet platform in any meaningful capacity as previously envisaged.
The end of August has seen Media Corporation Plc scale down its betting operations. Intabet which provided a betting platform for media partners such as Box Nation and Million Goals, are no longer operational. With no further planned promotional or operational budget,it is assumed that Intabet revenues and profits will be negligible. Without being able to reach the adequate level of investment needed to operate a sports betting platform, company directors believe that maintaining Intabet operations are no longer viable.
After the review, Media Corporation Plc have informed shareholders of a potential buy-out of Intabet technologies and intellectual properties by outside parties. It remains unknown whether AIM listed Media Corporation Plc, will continue to have a presence in the sports betting industry in other business capacities.
