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World Poker Fund to acquire Universal Entertainment ZGroup

Monday May 2,2016 : WORLD POKER FUND IN DEAL TO ACQUIRE UNIVERSAL ENTERTAINMENT
 
Target is service supplier to the Iowa tribe of Oklahoma, which has international online poker plans.
 
New York-based social gaming developer World Poker Fund Holdings announced Monday that it has signed a deal to acquire a 49 percent stake in online poker software provider Universal Entertainment ZGroup (UEG), a company  with online gaming assets that include trademarks, online gaming platforms, source codes, and casino licensing and consulting agreements.
 
UEG has been chosen by the Iowa Tribe of Oklahoma to supply the online poker technical product for the tribe's ambitious plans to launch the international brand PokerTribe.com and InSkyCasino.com in internet, marine and airline formats from servers based on tribal lands in Oklahoma.
 
InfoPowa readers will recall that the Iowa Tribe received the green light for its planned global online poker operations from the United States District Court for the Western District of Oklahoma after the state indicated that it would not oppose the plan following an initial round of litigation and the decision of an independent arbitrator that the venture does not contravene the tribe's compact with the state.
 
Online poker action through the tribe's sites will not be made available to US residents, and the servers will be on tribal land.
 
"This judgment will make Iowa Tribe the first Indian tribe to launch a legal online site from the United States. We expect the Iowa Tribe of Oklahoma to launch their online real money play casinos to be launched and generating revenues within the next 90 days domestically and globally," an announcement from WPFP notes.
 
The full financial details and scope of the transaction will be disclosed in public filing following this release with OTC Markets within the next 72 hours.
 
Earlier this year WPFH announced a collaborative marketing and publicity partnership New York PR firm1-800-PublicRelations, Inc. Under the terms of the agreement, World Poker Fund Holdings, Inc. will use 1800pr's resources, chief strategists, launch a full content marketing campaign and leverage the firm media relations capabilities within the social gaming and event arena. Additionally, 1800pr invests in WPFH, by way of a delivery service in exchange for an equity stake in the company vesting over the next year.
 
Former World Series of Poker main event champion Jamie Gold is WPFH's brand ambassador.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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