Los Angeles, CA, July 10, 2018 (GLOBE NEWSWIRE) -- World Poker Fund Holdings, Inc. (OTC PINK: WPFH), a leading developer and operator of on-line technology, gaming platforms and brands, announces today that it has secured a global licensing agreement for its Peer-to-Peer Betting technology with PW Holdings (PW). The Licensing deal is initiated by a Private Placement deal where PW also will purchase 1 million common shares in WPFH for $2,500,000.
WPFH recently acquired the Peer-to-Peer betting technology with big plans for its use. WPFH will license the technology in its current format to PW, which is already planning to roll out the app in Asia and Europe initially. WPFH will work on integrating this Peer-to-Peer betting technology into its existing platform, Picking Duck™. The Peer-to-Peer betting technology will allow friends to challenge and bet directly with their friends on sporting events.
As part of the licensing deal and in a show of confidence in a hopefully growing relationship with WPFH, PW has agreed to purchase 1 million WPFH shares at an agreed upon valuation of $2.50 per share, based on the potential of the new license arrangement, in a private placement deal with WPFH.
“PW Holdings has been looking for a strong partner in the eSport/Interactive Entertainment space, and by licensing the Peer to Peer technology as Personal Wager, we do like our motto says -- We put our money where our mouth is and are happy to invest in WPFH directly,” says CEO of PW Holdings, Brian Niessen.
“Our new Peer-to-Peer betting is the next evolution of the friendly wager. We are very excited about this new licensing deal and partnership with PW Holdings. We believe that both WPFH & PW’s commitment to sports betting, especially in the Asian and European markets are really in sync with each other and we will be able to make strong progress in this already well-established market,” says Travis Kasper, Chairman & CEO of WPFH.
About World Poker Fund Holdings, Inc.
World Poker Fund Holdings, Inc. is a leading developer and operator of on-line technology, gaming platforms and brands. 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.
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.