Friday, Oct. 27, 2006

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Action Poker Network sold to Playsafe Holdings Ltd.

By Sarah Polson

Las Vegas From Home.com Entertainment Inc. recently sold its Action Poker Network business to Playsafe Holdings Ltd. for $2,350,000. The transaction is scheduled to be completed on or before Nov. 17.

According to a press release from Las Vegas From Home.com Entertainment Inc., the company was already exploring the sale of the Action Poker Network months ago, but chose to speed up the process as a result of the passage of the Unlawful Internet Gambling Enforcement Act (UIGEA) in the United States.

The sale of the Action Poker Network means the company will no longer have any online gaming interests in the North American market.

Through the sale, Playsafe will acquire all of the Action Poker brands, the operating infrastructure of the company located in Costa Rica, as well as an undivided interest in the software used by the company to run the network.

The Action Poker Network includes online poker sites Action Poker, Nine.com and TigerGaming.com, among others.

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