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Recent M&A Deal Projected to Be Worth $1 Billion in Annual Revenues
LOS ANGELES, CA (May 10, 2016) – World Poker Fund Holdings, Inc. (OTC PINK: WPFH), a leading developer and operator of online and event-based social gaming platforms and brands, announces today that the 49% stake in Universal Entertainment Group (“UEG”) contracts and assets to be acquired, as previously announced, are projected to generate approximately $143 million in annual in-flight gaming and online revenues for WPFH from the initial offerings, based on accepted industry analysis as well as UEG and Iowa Tribe of Oklahoma projections.
Jamie Gold WSOP Champion and WPFH Spokesperson added, “WPFH is moving at light speed in terms of partnerships and acquisitions of game changing technology and brands. This latest move gives us the opportunity to be the first and only real money gaming source in the sky and further. I’m truly excited to be a part of it all.”
The Iowa Tribe of Oklahoma PokerTribe.com/.gov gaming portal is set to launch in the next 90 days and initially will offer live cash-casino, cash-bingo and cash-poker games online to international (non-U.S.) players. In-flight cash gaming is then set to launch in Q1 2017 on selected international airline flights, cruises and other forms of transportation. The in-flight international gaming offerings will be done through InSkyCasino.com and will be offered once an international flight in excess of two hours reaches cruising altitude. Eligible passengers (ages 21 and up) will be given the opportunity to receive complimentary Wi-Fi access for the duration of the flight for a minimum deposit of $25 into their online, real-money play, casino account offered by InSkyCasino.com, which will be operated by PokerTribe.com/.gov and software/support provided by UEG, through its contractual arrangement with the Iowa Tribe of Oklahoma. Passengers on these flights will be able to play casino games (not just poker) through their personal devices, such as smartphones, tablets, laptops, or using the inflight entertainment system at their seat.
UEG spokesperson Christina Fallin (daughter of Oklahoma Governor Mary Fallin) commented: “We are proud to be working with World Poker Fund and The Iowa Tribe of Oklahoma on this project. It is an extraordinary time for the State of Oklahoma. The recent federal court ruling granting the Iowa Tribe the unique gaming licenses will generate significant revenue potential that will directly benefit the people of Oklahoma through tax revenues and The Iowa Tribe and its partners. It’s a win-win all around.”
International, in-flight cash gaming represents an extraordinary market opportunity. This market is currently not served at all and is not included in the industry estimated $35.5 billion in annual revenues from on-line cash gaming world-wide. Over 3.5 billion passengers are expected to fly in 2016 and more than 3 billion of those are projected to be non-U.S. passengers. WPFH and its market partners through PokerTribe.com/.gov, initially will have access to 180 million of those international passengers through a single in-flight Wi-Fi provider, which controls the entertainment content on its partner airlines. UEG estimates that, even if only 20% of eligible passengers on those flights who have Wi-Fi access, choose to gamble in flight, revenues of over $808 million US would be generated annually, of which a projected $143 million in gross revenues would result to WPFH from the assets and contracts to be acquired by it from UEG. WPFH management believes that the Iowa Tribe of Oklahoma gaming web site, managed through their contractual vendor relationship with UEG, can successfully penetrate this market and expand to other international passengers and carriers after the first offering through the initial in-flight Wi-Fi provider. This is a unique and untapped market.
About World Poker Fund Holdings, Inc.
World Poker Fund Holdings, Inc. is a leading developer and operator of online and event based social gaming platforms and brands. The company is currently in the final stages of launching its two core celebrity driven social gaming brands for online poker and casino gaming at www.celebrityworld.com . The company does not offer any games or gaming opportunities for cash in the United States and is not licensed as a gaming operator in the United States or any other jurisdiction.
To learn more about World Poker Fund Holdings (WPFH) and its upcoming events, please visit www.worldpokerfund.com
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This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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