Everyone's a winner, including Angus Deayton
Saturday 06 March 2004
Michael Edelson, the financier known as the Shellmeister, is to float a premium-rate telephone game, which promises every contestant a prize, on the junior AIM market for about £20m.
Mr Edelson is using his cash shell, Chestnut, to buy the game, called Everyone's a Winner, from Felix Corporation, a private entity run by Alasdair Waddell, the former chief executive of Lumiere Pictures, and Andrew Egan, a former stuntman and sponsorship negotiator.
Chestnut, which counts the comedians Angus Deayton and David Baddiel among its investors, will then rename itself Felix Group, which will float on Monday.
The company will this year use £1.5m of cash in Chestnut to fund its expansion, which involves putting vending machines into pubs and retail outlets. Customers, spending £1 or £2 for a go at the game, will win prizes including a voucher for a free drink or a bottle of wine to go with a meal.
Those spending more, over premium-rate telephone lines, could win cars and vouchers for goods at Dixons and Kingfisher's DIY outlets. "Contestants get retail goods which are twice what they spend, or if they spend £5 over a premium-rate telephone line, they could receive a £10 Dixons voucher, or a car," Mr Waddell said.
While Mr Waddell will run the new company, Mr Edelson will retain a stake in the business. The initial price Chestnut will pay for the gaming business will be £11.4m, though Felix's owners could get another £24m in shares, depending on profits over the next three-year period.
Felix reported revenue of just over £500,000 from premium-rate lines in the year to last August. It also plans to roll out the game to satellite TV channels.
Everyone's a Winner generates returns by getting retailers to supply prizes at knock-down prices in return for being able to promote particular brands as the prizes.
By paying out vouchers, retailers can also boost the number of customers coming into their shops.
- 1 Three of Pope Francis' relatives die in Argentina car crash, including two young great-nephews
- 2 Michael Brown shooting: Amnesty International sends team within US for first time as National Guard deployed
- 3 Reading Festival 2014: Tesco branch replaces salad with Jager and potatoes for vodka as campsite opens tomorrow
- 4 Here’s the damning letter Robin Williams wrote to his Mrs Doubtfire co-star's principal after they expelled her
- 5 Ferguson protests: 90-year-old Holocaust survivor Hedy Epstein ‘arrested’ by police during St Louis demonstrations
Syria conflict: President Assad finally turns on Isis as government steps up campaign against militant strongholds
Michael Brown shooting: Amnesty International sends team within US for first time as National Guard deployed
Iraq crisis: Islamic State's message to America - 'We will drown you all in blood'
Ferguson: In the heartlands of America, a descent into madness
Celebrity Big Brother 2014: Audley Harrison meets Kellie Maloney: 'Was Kellie really the best you could come up with?'
Isis threat: Cameron wants an alliance with Iran
Crisis? What crisis? A visiting US doctor gives the NHS a rave review
Ukip MEP calls for reintroduction of death penalty on fiftieth anniversary of last deaths
Russell Brand calls for Israel boycott: Comedian urges big businesses that 'facilitate the oppression of people in Gaza' to pull funding
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
World peace? These are the only 11 countries in the world that are actually free from conflict
iJobs Money & Business
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...
£60000 - £90000 per annum + Bonus: Harrington Starr: Global leading Energy Tra...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£45000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Harrington Sta...