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Las Vegas From Home in Mexican Poker Deal

Written On  5/4/11 By Recentpoker.com staff writer Frank Polliern :

LVFH IN MEXICAN POKER DEAL
 
Controlling interest secured
 
Las Vegas From Home has announced that it has reached agreement on the acquisition of Poker from Home de Mexico, S. de R.L. de C.V. through the purchase of a 99 percent equity interest in a mix of cash and equity considerations.
 
The deal gives LVFH the exclusive right to exploit a federal Mexican permit for the development of, and to operate, conduct and take, online bets and online casino gaming activities in Mexico.
 
Entretenimiento de Mexico, S.A. de C.V. ("EMEX") and Producciones Moviles S.A. de C.V. ("Producciones"), private companies, entered into separate previous agreements, resulting in Poker from Home de Mexico having been granted the sole and exclusive right to operate and conduct online gaming and betting activities, excluding lotteries, in Mexico under the commercial name of Palmasbet.com.
 
In addition to the Playboy Casino Cancun, EMEX also operates twenty-two brick and mortar casinos under the Palmas Group of Casinos.
 
The Federal Mexican Gaming Permit is valid until May 24, 2030.
 
LVFH has established an office in Mexico City, and Poker from Home de Mexico has already initiated a soft launch for real money wagering of online poker and tournament games, powered by LVFH's proprietary software. Real money wagering is available to Mexican residents only.
 
Management reports that early results of several thousand accounts being opened have been very encouraging, and that Poker from Home de Mexico is now in the process of planning a nationwide marketing campaign through mass media to introduce Mexican residents to a national gaming website where residents will be able for the first time to enjoy the ability to play all verticals of games such as online bingo, casino, poker and sports betting.
 
According to independent surveys, potentially, Mexico possesses all the elements to establish itself as a major gaming market; a booming population with a passion for sports; a strong gambling tradition; and an emerging middle class with increasing purchasing power.
 
The country is also one of the fastest-growing internet markets in the world, according to ComScore, and has the second largest internet user population in Latin America. An August 2010 ComScore report found that Mexico's internet user population grew 21 percent over the prior year and stated that Mexicans spent more than 60 percent of their time online on communication and entertainment sites. The average age of Mexico's online user population is 26.7 years, according to Digital Life.
 
Las Vegas From Home president and CEO Jake Kalpakian said of the deal: "Gaming is an active part of Mexican culture. We believe we will have a competitive advantage because of the scope of the licence as a result of it encompassing all the major gaming verticals, but in addition, the existing strategic relationships derived from our Mexican parties with some of Mexico's best known and widely accessible financial, social and marketing brands should greatly assist us in the development and expansion of our business."

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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