Media Corporation

Media Corporation has upped customer numbers 29% to 100,000 at its October 2009 Purple Lounge online casino and poker acquisition.

The expansionist media and online gaming concern, which bought Purple Lounge last October for up to £465,000 in an earn-out-related deal, says it has used its online advertising and marketing know how to boost the number of registered customers for Purple Lounge, which had increased only 13% in the 10 months before the takeover.

Steered by entrepreneurial chief executive officer Justin Drummond, AIM-quoted Media Corp cited the contribution from Purple Lounge as a key factor in turning an £898,000 loss into £157,000 pre-tax profits in the six months to March, on turnover up fivefold to £10.3m. The proportion of new customers becoming cash depositors on the day they register is running at 32%, appreciably above the industry average.

House broker Astaire sees Media Corp turning a £2.3m loss into a £1.2m pre-tax profit in the year to September, with nearly £2.8m on the cards for 2010-11. Highlighted by Growth Company Investor at 1.45p last September and again at 2.8p last May, Media Corp's volatile shares have now reached 3.10p and offer risk-friendly punters the possibility of further improvement.