VANCOUVER, BRITISH COLUMBIA – May 4, 2011 – Las Vegas From Home.com Entertainment Inc. (the “Company” or “LVFH”) (TSXVENTURE:LVH – News; PINK SHEETS:LVFHF – News; BERLIN:LVH – News; FRANKFURT:LVH – News) Further to the Company’s news release dated February 7, 2011, the Company is pleased to announce that it has signed an Asset Purchase and Sale Agreement (the “Asset Agreement”) to acquire (the “Transaction”) a 99% equity interest in Poker from Home de Mexico, S. de R.L. de C.V. (“Poker”), 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.
The Asset Agreement was entered into among the Company, Poker, all of the shareholders of Poker (the “Poker Shareholders”), Entretenimiento de Mexico, S.A. de C.V. (“EMEX”) and Producciones Moviles S.A. de C.V. (“Producciones”). 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 PALMASBET (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.
The Federal Mexican Gaming Permit was originally issued to EMEX by the Mexican Secretaria de Gobernacion, Subsecretaria de Gobierno, Unidad de Gobierno, Direccion General Adjunta de Juegos y Sorteos (the “Mexican General Office of Games and Drawings/Lotteries”), and is valid until May 24, 2030.
A copy of the Federal Mexican Gaming Permit can be viewed at the official website of the Mexican General Office of Gambling and Lotteries, at the following web address:
http://www.juegosysorteos.gob.mx/
(For further information or assistance to view the license on the site, please contact [email protected]).
