ARB Interactive, a Miami-based online sweepstakes gaming company best known for its Modo Casino, emerged as the winning bidder in a recent bankruptcy auction for the assets of Publishers Clearing House (PCH).
ARB Interactive Could Offer Jobs To Existing PCH Employees
According to multiple sources, ARB acquired PCH in a $7.1 million cash deal that includes certain prizewinner liabilities and roughly $378,000 in expenses related to taking over existing contracts.
Reports suggest that ARB is willing to offer jobs to existing PCH employees as well. PCH had 105 employees when it filed for bankruptcy in April.
“Pending court approval, we’re excited to begin this next chapter and deliver an experience that honors the legacy of the brand while earning the trust of a new generation of players,” said Patrick Fechtmeyer, the co-founder and CEO of ARB Interactive.
Fechtmeyer added that ARB is committed to “digitally transforming the business through mobile-first, interactive, and free-to-play games enhanced by the power of sweepstakes and prizes.”
Judge Martin Glenn of the U.S. Bankruptcy Court in Manhattan is scheduled to hold a hearing Wednesday to review the sale.
ARB Gaming Launched Modo Casino In 2023
ARB’s Modo Casino is a free-to-play social casino that uses several celebrities’ likenesses to market its online gaming platform, including Snoop Dogg, Brad Williams, and John Daly.
Launch in 2023 by ARB Gaming, Modo Casino offers over 900 games and regular promotions to sweeps players in 37 states. Players can play using Gold Coins or redeem Sweeps Coins for cash prizes.
The platform is not available in Delaware, Idaho, Washington, Montana, Maryland, Pennsylvania, New Jersey, Connecticut, West Virginia, Louisiana, Rhode Island, Nevada, and Michigan.
PCH Partnered With SCCG Management In April
PCH was founded in 1953 as a door-to-door magazine subscription service that entered subscribers into sweepstakes promotions where winners received checks from the Prize Patrol ranging from $1,000 to $10 million.
In April, PCH formed a strategic partnership with global gaming advisory firm SCCG Management to establish a presence in social gaming and expand its platform that has awarded more than $500 million in prizes.
Headquartered in Jericho, New York, PCH also operates as a free-to-play provider, and the company provides D2C marketing. It offers social gaming and allows sweepstakes companies access to content providers.