Gem Comm. Buys Trade Publishing Assets Of Casino Journal Publishing

Business Publisher, Nov 17, 2000

GEM Communications (Las Vegas, NV) has signed a letter of intent to acquire all the trade publishing assets of Casino Journal Publishing Group (CJPG; Paramus, NJ) for an undisclosed sum. GEM said the deal includes a long-term contract with CJPG founders Glenn and Adam Fine to manage the new combined publishing operations.

The acquired assets include Casino Journal, a monthly magazine launched in 1985 to serve executives in the North American casino market, National Gaming Summary, a weekly print newsletter, and a trade show division that includes five regional shows for the gaming industry. CJPG will retain its interests in its consumer market products, including Casino Player, Strictly Slots and Poker Digest magazines and related newsletters, and its interest in Gaming Venture Corp., its financial consulting division.

GEM president Bill Newman said the acquired publications, "combined with the international and regional trade show operations, provide buyers worldwide with a single, independent source for product and industry information and sellers with a complete marketing package." GEM currently publishes nine trade magazines serving the worldwide gaming industry, including IGWB, Slot Manager, Indian Gaming, Lottery Business, Casino Executive, Gaming for Africa, InterGame, InterGaming and InterPark. The company also produces the "World Gaming Congress & Expo" and "Bingo World" conferences.

GEM is a subsidiary of The Official Information Co. (New York), a company majority owned by VS&A Communications Partners II, L.P. (New York).