|By Business Wire||
|July 29, 2014 06:32 AM EDT||
Las Vegas From Home.com Entertainment Inc. (the “Company” or “LVFH”) (TSX-V: LVH) (US OTC Pink Sheets: LVFHF) (Berlin: LVH) (Frankfurt: LVH). LVFH is pleased to announce that it has entered into and has executed a letter of Intent (“LOI”) with the Mexican entity of the Codere Group (“Codere”) and its Mexican partner the Salinas TV Azteca Group (“Azteca”) in respect to a partnership for online gaming in Mexico.
Codere is a leading Spanish Multinational Gaming Company and a key player in the gaming sector in Europe and Latin America with operations in gaming halls, gaming machines, racetracks, and sports betting. Since its founding over thirty three years ago, Codere holds a position of leadership in the core business lines and geographic areas where it operates, being the biggest bingo hall operator including casinos in Mexico, the biggest gaming sector operator in the Province of Buenos Aires, Argentina, and the top gaming operator in other growth markets such as Italy, Panama, Columbia, Brazil and Uruguay. The securities of Codere are listed for trading on the Madrid Stock Exchange under the trading symbol “CDR”. For further information about Codere, please visit www.Codere.com.
Azteca, previously known as TV Azteca, is a Mexican multimedia conglomerate owned by Grupo Salinas. It is the second largest mass media company in Mexico. The Grupo Salinas owns businesses that participate in the television and the telecommunication sectors, banking, and retail markets amongst others. It has over 5,500 employees and has a strong presence in Latin America and the U.S.A. For further information about Azteca please visit www.Azteca.com.
Pursuant to the LOI, a new company shall be incorporated in Mexico (“NEWCO”). The shareholders of NEWCO shall be Codere as to 51% and LVFH as to 49%. NEWCO shall participate in 51.03% of the profits and losses of a Mexican partnership which was established by means of an association agreement entered into on September 28, 2012 between Codere and Azteca (the “Mexican Partnership”). Effectively, LVFH’s ownership and share of profits from the Mexican Partnership shall be 25%. In addition to receiving its share of profits, LVFH shall also license its gaming platform to the Mexican Partnership and will receive ongoing software licensing royalties for its use thereof.
The Mexican Partnership has a federal gambling license and is one of the few legal online gaming portals in Mexico. The Mexican Partnership shall solely and exclusively use LVFH’s Gaming Platform for its online gaming website www.greenplay.mx and also for its sister gaming websites. It is anticipated that www.greenplay.mx shall commence operations by August 20, 2014. All decisions of NEWCO and the Mexican Partnership shall be made jointly by the partners. LVFH shall also have the right of first refusal to participate in any business opportunities that may arise in any new territories in the Americas in which the Mexican Partnership decides to get involved in. LVFH shall contribute for its share the amount of US $4,000,000 in NEWCO for the development and marketing of the Mexican Partnership’s online gaming business.
The Mexican Partnership will benefit from LVFH's latest HTML5-based games and its Gaming Platform, which provide customers the ability to play games across all major platforms and devices, including PC, Mac, iOS and Android devices. Customers will enjoy selecting from a wide array of gaming content, including bingo, sportsbook, poker, and a comprehensive suite of high-quality casino games such as slots, blackjack and roulette. Most importantly, the LVFH Gaming Platform is localized for the Mexican marketplace, allowing customers to play with Mexican Pesos and use local payment options.
LVFH’s President and CEO Mr. Jake H. Kalpakian states: “We are thrilled at this development, as LVFH shall now be associated with a leading Multinational Gaming Company such as Codere and with a multimedia conglomerate such as Azteca. LVFH shall benefit significantly from this enviable position of participating legally in the huge Mexican iGaming Market and with the opportunity of being able to get involved in other countries in the Americas where online gaming is legal.” Mr. Kalpakian continues, stating: “This partnership with the Salinas Group in Mexico shall allow the Mexican Partnership to promote and market its operations in Mexico via television and the use of the Salinas Group’s diversified companies and networks. It is anticipated that the revenues that shall be generated from this partnership shall enable LVFH to become profitable.”
In order to make its contribution in NEWCO, LVFH plans to utilize funds on hand, funds from the exercise of outstanding warrants, and from the proceeds of a non-brokered private placement financing of 5 million LVFH units at a price of 10 cents per LVFH unit, each unit consisting of one LVFH share and one LVFH share purchase warrant exercisable at 10 cents per share for a period of five years (the “Private Placement”). The Private Placement shall be subject to the approval of the TSX Venture Exchange.
The parties to the LOI have agreed to enter into Definitive Agreements on or before September 15, 2014. The Definitive Agreements shall include, but shall not be limited to, anti-dilution provisions and other provisions which are customarily used in transactions of this nature. The Definitive Agreements shall be subject to the approvals of the TSX Venture Exchange, the Codere Group and Azteca.
Since 1999, LVFH has been a reputable provider of innovative gaming software spanning Poker, Casino, and other popular multiplayer games. The Company’s successful and lengthy track record in gaming software development, financial accountability and cardroom operations has made LVFH one of the leading software developers in the industry.
For more information on the Company:
Jake H. Kalpakian,
President & CEO, LVFH
(604) 681-0204 ext. 6105
Transcend Resource Group
Office: (604) 681-0037
Mobile: (604) 805-2126
Statements in this news release which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing of the proposed transaction may not occur for any reason. The reader is cautioned not to place undue reliance on forward-looking statements.
Trading in the securities of the Company should be considered speculative.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT transformation?
May. 26, 2015 12:00 AM EDT Reads: 4,141
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
May. 25, 2015 11:00 PM EDT Reads: 5,897
For better or worse, DevOps has gone mainstream. All doubt was removed when IBM and HP threw up their respective DevOps microsites. Where are we on the hype cycle? It's hard to say for sure but there's a feeling we're heading for the "Peak of Inflated Expectations." What does this mean for the enterprise? Should they avoid DevOps? Definitely not. Should they be cautious though? Absolutely. The truth is that DevOps and the enterprise are at best strange bedfellows. The movement has its roots in t...
May. 25, 2015 10:00 PM EDT Reads: 6,191
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
May. 25, 2015 09:00 PM EDT Reads: 4,729
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
May. 25, 2015 08:45 PM EDT Reads: 1,347
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.
May. 25, 2015 08:00 PM EDT Reads: 1,854
Enterprises are fast realizing the importance of integrating SaaS/Cloud applications, API and on-premises data and processes, to unleash hidden value. This webinar explores how managers can use a Microservice-centric approach to aggressively tackle the unexpected new integration challenges posed by proliferation of cloud, mobile, social and big data projects. Industry analyst and SOA expert Jason Bloomberg will strip away the hype from microservices, and clearly identify their advantages and d...
May. 25, 2015 07:00 PM EDT Reads: 1,303
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
May. 25, 2015 07:00 PM EDT Reads: 5,685
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
May. 25, 2015 07:00 PM EDT Reads: 1,506
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
May. 25, 2015 06:00 PM EDT Reads: 3,939
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
May. 25, 2015 05:30 PM EDT Reads: 3,923
The OpenStack cloud operating system includes Trove, a database abstraction layer. Rather than applications connecting directly to a specific type of database, they connect to Trove, which in turn connects to one or more specific databases. One target database is Postgres Plus Cloud Database, which includes its own RESTful API. Trove was originally developed around MySQL, whose interfaces are significantly less complicated than those of the Postgres cloud database. In his session at 16th Cloud...
May. 25, 2015 05:00 PM EDT Reads: 1,017
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
May. 25, 2015 05:00 PM EDT Reads: 1,662
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
May. 25, 2015 05:00 PM EDT Reads: 1,536
In high-production environments where release cycles are measured in hours or minutes — not days or weeks — there's little room for mistakes and no room for confusion. Everyone has to understand what's happening, in real time, and have the means to do whatever is necessary to keep applications up and running optimally. DevOps is a high-stakes world, but done well, it delivers the agility and performance to significantly impact business competitiveness.
May. 25, 2015 05:00 PM EDT Reads: 1,818