Money Gaming Corp Sells 30% Of Company

Published: Thursday, June 08, 2006 Online-Casinos.com

MONEY GAMING CORP SELLS 30 PERCENT OF COMPANY

Money broker buys into online backgammon for unspecified cash

Online backgammon firm, The Money Gaming Corporation, has sold a 30-percent stake in the company to Michael Spencer, the money-man behind the money-brokering firm ICAP.

According to media reports, Spencer used IPGL, a privately owned entity in which he also holds stakes in various media companies, fund management groups as well as spread-betting firm City Index to make the investment.

Liad Shababo and Jonathan Caplan founded the company two years back, offering web-users a selection of games in addition to backgammon that includes mahjong, chess, Othello, gin rummy, Connect 4 and virtual pool and snooker. On the site players compete against each other for real money, with the company taking a rake of the bets placed.

Subject to successful bids for licensing, other branded games such as Scrabble and Monopoly could also follow, a company spokesman revealed this week.