LVFH Acquires Online Gaming Rights in Mexico

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LVFH Acquires Online Gaming Rights in Mexico


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Vancouver based Las Vegas From Home.com Entertainment Inc. (LVFH) has inked an Asset Purchase and Sale Agreement to acquire a 99% equity interest in Poker from Home de Mexico, S. de R.L. de C.V, a private company duly incorporated in accordance with the laws of Mexico, resulting in the Company owning a 99% interest in Poker's sole and exclusive right to exploit a certain federal Mexican permit (the "Federal Mexican Gaming Permit") for the development of, and to operate, conduct and take, certain online bets and online casino gaming activities in Mexico.

Said LVFH president and CEO Jake Kalpakian of the venture: "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."

The Federal Mexican Gaming Permit is valid until May 24, 2030.

The Asset Agreement was entered into among the Company, Poker, all of the shareholders of Poker, Entretenimiento de Mexico, S.A. de C.V. (EMEX) and Producciones Moviles S.A. de C.V. Both EMEX and Producciones are private companies incorporated in accordance with the laws of Mexico. EMEX, Producciones and Poker entered into separate previous agreements, resulting in Poker 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 Palmsabet (www.palmasbet.com). In addition to the Playboy Casino Cancun, EMEX also operates twenty-two bricks and mortar casinos under the Palmas Group of Casinos (www.palmasgroup.com) brand.

LVFH has opened an office in Mexico City, and Poker has already initiated a soft launch for real money wagering of online poker and tournament games that are powered by LVFH's proprietary software. Although it has yet to fully begin its marketing campaign, LVFH reports that several thousand accounts have already been opened. Poker from Home de Mexico plans to build on this early success by launching nationwide, mass media marketing campaign designed 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.

"We are excited about this opportunity in the Mexican gaming marketplace and what it might bring to LVFH shareholders," said Kalpakian, adding, “Given the scope of the opportunity, we would not be surprised if this attracts one or more of the leading global online gaming brands to enter into a strategic relationship with LVFH."