i3 interactive expands footprint in India

The Toronto-based firm has acquired a controlling interest in an Indian online poker operation.

India.- The Toronto-based gaming supplier i3 Interactive has announced that it has gained overall control of an unnamed Indian online poker brand.

It said it had closed an operation to acquire a controlling interest in an Indian company that owns an active online poker brand. It acquired an interest in the company in August.

Chief executive Chris Neville said: “We are thrilled to have completed this transaction. With the historical and projected growth of poker in India, the company has strategically positioned itself within a key market in order to deliver strong performance and return on shareholder value.

“This acquisition is a significant step forward in executing on our strategy to identify and pursue growth in strategic markets. The Indian poker operation creates an immediate additional stream of recurring revenues from a loyal customer base in an established international market for the poker business.”

The Canadian firm has not named the Indian brand in question but said that it had over a million customer registrations and 100,000 active users.

In August, i3 Interactive announced its initial acquisition of an interest in the business and the creation of an Indian subsidiary named i3 India Holdings Corp.