March 29th Poker news ... Welcome! You have reached the best online forum for poker players. Stick around and chat about everything Texas holdem how to
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LUCKYFISH GAMES CLOSES SERIES A FUNDING2014-05-22
Social game developer LuckyFish Games closed off $1.6 million in Series A funding led by Carmel Ventures, a member of the Viola Group.
This is the first investment for Carmel Ventures in the social gaming development sector, led by Daniel Cohen, General Partner at Carmel who also joined the Company's board of directors.
LuckyFish Games launched its first portfolio of 22 social games through OMG! Fortune on Facebook recently, it was founded at the end of 2012 by Roi Fishman, formerly an Infrastructure & Poker Delivery Manager at online gaming firm 888. Fishman is also the co-founder of SparkyBee, another social games developer.
In addition to its Facebook platform activity, LuckyFish said it will launch an Android version of OMG! Fortune in the coming days and an iOS version by next month.
"This funding will allow us to capture the rapidly evolving opportunity in the growing market of social gaming as a whole and social fortune games in particular," Fishman commented. "We are excited about the coming launch of our Android and iOS game versions and the rapid growth of our community of fans. The partnership with Carmel Ventures is also a validation of our innovative viral offering and our business model."
"We found LuckyFish to have a unique combination of a professional management team, exclusive content, and a cutting edge BI system which enables real-time analysis," said Daniel Cohen, General Partner at Carmel Ventures. "These are the key factors to LuckyFish's growth in a very exciting market."
NEW INDIAN POKER NETWORK FROM CUBEIA2013-10-14
Stockholm-based software firm Cubeia and Apuestas Deportivas Golf Betting Online Bingo March Madness Bracket 2020
local partner Mirch Entertainment, will unveil a new real-money poker network in India dubbed Cubeia Poker.
The new network, based upon the open source platform, is a fully responsive and flexible HTML5 poker client that Cubeia says runs on any computer, most mobile devices, all major browsers and all operating systems.
The Cubeia Network will seamlessly integrate with payment providers in India and the first operator, Thrill Poker, is expected to go live during Quarter 4 2013.
Lars J. Nilsson, executive vice president of Cubeia believes the second most populous country is an exciting new market with huge potential.
Cubeia's flagship product Firebase is a server platform for developing and running multiplayer online games. It is dual-licensed, one version for the development community under an open source license, and another version with enterprise features under a proprietary license.
How Mirch Entertainment intends to get around Indias rather restrictive online gambling laws is open to conjecture. The last InfoPowa heard Sikkim was the last Indian province remotely considering gambling.
POKERSTARS PARENT LOSES OUT ON ATLANTIC CITY APPEAL (Update)2013-07-02
The Rational Group, parent company of Pokerstars and Full Tilt Poker, has suffered another legal setback in its attempt to establish a foothold in the nascent New Jersey online gambling market by buying troubled land casino the Atlantic Club (see previous InfoPowa reports).
On Monday a New Jersey appeal court rejected the company's appeal against an earlier decision in a lower court that Atlantic Ciub was within its rights to withdraw from an acquisition deal with Rational after the agreement ran out of time due to licensing delays.
By then Rational had handed over $11 million to Atlantic Club owners Colony Capital as a gesture of good faith and to help the casino to survive; the American judges have ruled that Colony is within its rights to keep that money.
In its appeal, the Rational Group claimed the judge in the initial hearings made several errors. It also argued that its $15 million purchase deal should be reinstated, noting it has already given The Atlantic Club $11 million.
Commenting on the successful outcome of the appeal for Atlantic Club, chief operating officer Michael Frawley said the casino was clearly pleased with the result of the litigation.
"Our intentions have, and will continue to be focused on the aggressive pursuit of New Jersey's emerging online gaming opportunities," Frawley said.
Pokerstars-Rational Group had not commented when InfoPowa went to press Tuesday morning.
There has been speculation that Atlantic Club used the licensing delay to pull out of the deal because a more attractive alternative may have developed.
The casino was in financial trouble prior to the Rational deal, which put an acquisition price of $15 million on the table and also involved a commitment by Rational to fund a potential $32 million shortfall in the employee pension account.
Rational also had discussed investing an additional $20 million to $40 million into the property once the deal was completed.
As things stand at present, Atlantic Club has not only succeeded in withdrawing from the agreement, but it is keeping the $11 million handed over so far by Rational Group.