China to Receive New Online Games

The gaming industry in Asia is booming. Many online operators are moving into the Asian market to take advantage of the increase in interest and activity. It was recently announced that the CY Foundation will be supplied with an Asian multi-player software platform. The Las Vegas From Home group will be supplying the Foundation with the software. They recently signed a deal to work together.

The Ministry of Culture in China has licensed a group to operate online games and tournaments and that group will deliver the product. The groups are controlled in China and the name has not yet been released. The Las Vegas From Home will receive money from the CY Foundation for their use of the software. The CY Foundation will also have to pay royalty fees of one percent of all tournament collection fees without prize deductions or ten percent of all tournament fees collected minus the tournament prize amount.

The software contains such popular games as 13 Card Poker and Fight the Landlord. These games will available online in the Henan Province and the city of Beijing and the surrounding suburbs. The President and CEO of Las Vegas From Home stated that the purchase of the rights for particular games solidifies the group's long term operating position in the area.

"This is a tremendous opportunity for the company," said Jake Kalpakian, President and Chief Executive Officer for LVFH. This relationship allows us to be a recognized supplier in arguably the worlds most sought after market all through a strong and solid organization such as CY Foundation, which has the licensing approvals from the Government to operate tournament-style games online as well as having a very impressive distribution network."