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CHANGES TO LVFH - C.Y. FOUNDATION DEAL
The online gambling software developer Las Vegas From Home.com Entertainment Inc.(LVFH) has announced that it has restructured its deal with C Y Foundation Group of China .
Under the revised agreement, Las Vegas From Home will provide C Y Foundation with software targeting Chinese residents in exchange for a licensing royalty fee.
Las Vegas From Home.com Ent. Inc. announced that as a result of the company not proceeding with its transaction with CY Foundation Group Limited (CYF) and Touchdown Capital Inc. as announced on May 8, 2008, it has sold back the Exclusivity Rights to CYF and successfully renegotiated and entered into a newly revised Software Licensing Agreement with CYF.
"Under the new SLA, the Company will provide CYF with software for the entire People's Republic of China (PRC) and will be paid a licensing royalty by CYF," a company statement revealed.
LVFH's CEO, Jacob H. Kalpakian said, "We look forward to providing CYF with our products, and we strongly believe our new relationship with CYF is better suited to meet each partner’s interests in the rapidly expanding [Chinese] marketplace."
C Y Foundation Group Limited was involved in a joint marketing and operations agreement with AsianLogic Limited earlier this year to establish a pan-China online gaming network.
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CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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