NetPlayTV Takes Over VMtv’s Challenge Jackpot

Interactive telly game maker NetPlayTV is buying Virgin Media (NSDQ: VMED) Television out of the 9.9 percent share option it granted it last April.

The £1.82 million deal also sees NetPlay take over the database for Challenge Jackpot, the website for VMtv’s Challenge channel, which NetPlay gained production rights on in last year’s deal.

NetPlay says: “The current database generated £2.9m of gross gaming margin from 12 May 2009 to 31 December 2009 and was subject to a revenue share agreement.

“Under the revised terms all revenues arising from this database will be retained by NetPlay TV, with VMTV receiving fixed monthly payments that reflect the value of its airtime.”

CEO Martin Higginson said buying back shares from VMtv “reduces the threat of dilution for all shareholders”, and: “We see ‘Challenge Jackpot’ as the mass market gaming channel in our portfolio, something for everyone. Over the coming months we will introduce more live TV games allowing us to broadcast to wider audiences at peak times.”

NetPlay had bought in to Challenge Jackpot last year by buying Two Way Gaming, a JV between Two Way Media and US games company Win Gaming that had run the online games. NetPlay took over its 16,000 registered players and account balances, which it said would push its monthly betting takings to more than £45 million.

NetPlay operates interactive TV-online games including, and Eurotelemillions brands, including on the Challenge channel.