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Universal Entertainment Group & WPFH Partner to Launch Global Gaming Brands Oklahoma Casino Tribes Online Gaming Platforms
NEW YORK, NY (May 2, 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 the company has a completed its negotiations and signed a definitive agreement to acquire 49% of Universal Entertainment Group, LLC’s (“UEG”) online gaming assets (i.e. trademarks, online gaming platforms, source codes, and casino licensing, and consulting agreements). UEG is the leading developer of proprietary online casino free-play and real-money-play software and intellectual property designed to host to be utilized by The Iowa Tribe of Oklahoma casino(s) under its new, first-in-the nation, .com and .Gov hosted poker site(s) (via domain names such as www.InSkyCasino.com and www.PokerTribe.com & .Gov worldwide). The online real money play casinos will offer gaming on air, land, and sea globally.
This agreement comes on the heels of the United States District Court for the Western District of Oklahoma issuing an order granting a summary judgment on April 18, 2016 allowing the Iowa Tribe of Oklahoma to launch online operations located within its tribal lands. 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.
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.
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.
To learn more about World Poker Fund Holdings (WPFH) and its upcoming events, please visit www.worldpokerfund.com
Safe Harbor Statement
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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