us$ 38 million sale of Poker Channel is being explored

The business was founded by entrepreneurs Crispin Nieboer – a former NM Rothschild banker and BSkyB executive – and Shaun Barron in 2005 with the backing of private venture capitalists.

Since then, the Poker Channel has grown significantly and now provides specialist poker programming that includes branded tutorial shows, player interviews, cash games, online event coverage, daily news updates and live coverage of international events.

Poker Heaven, which is linked to the Poker Channel, has developed into one of European most widely recognised online poker operations. This financial year it is forecast to generate revenues of us$ 17.1 million and earnings of us$ 2.2 million. Sources also said the Poker Channel is expected to generate earnings of us$ 530.675 on turnover of us$ 2.2 million.

A wide range of parties could be interested in buying the group, including Full Tilt, 888 Holdings and PartyGaming. Other potential bidders could include TV networks and more traditional gambling operators, such as Ladbrokes and Paddy Power.

Paul Herman, the partner at Cavendish managing the sale, refused to be drawn on the identity of the bidders, but did confirm that considerable interest has been seen from Asia and overseas. GMG could not be reached for comment.