Vancouver, British Columbia (FSCwire) - Jackpot Digital Inc. (formerly Las Vegas From Home.com Entertainment Inc.) (the “Company” or “Jackpot”) (TSX-V: JP) (US OTC Pink: JPOTF) (Frankfurt & Berlin Exchanges: LVH).
Jackpot is pleased to announce its corporate update.
Electronic poker tables (E-tables)
Further to the Company’s transaction which was closed and announced on August 14, 2015, the Company is pleased to inform shareholders that the Company is making excellent progress with the transition of the recently acquired Pokertek business. The acquisition of Pokertek has transformed Jackpot by adding a high margin recurring revenue business to our industry leading gaming software development platform. Given the circumstances behind the recently acquired Pokertek business, Jackpot management sees a compelling opportunity to grow the "e-table" business. This e-table business also has synergies with Jackpot's wireless gaming product, as many e-table casino customers have expressed interest in our wireless gaming technology. In addition to the transition, the Company is confident it will materially grow its current electronic poker table business due to a strong demand for the product.
President & CEO Mr, Jake Kalpakian states “The Pokertek business came to Jackpot through a series of acquisitions by increasingly larger corporations. These corporations were all focused on their much larger slot machine operations and as a result, the relatively smaller e-table business received little attention. Since closing the acquisition 90 days ago we have focused our attention on marketing and customer service, and have been very pleased with the results to date. We are seeing strong demand for new e-tables from both existing and many new customers. As a result of this strong performance over such a short period of time we are highly encouraged that we will be able to add multiple new customers and increasing revenues from existing customers from a wide range of geographic regions. This acquisition has also leveraged our strength in gaming software development as we are now able to add exciting new games to our existing and growing base of e-tables installed globally. This will give us the opportunity to increase monthly recurring revenues from each table”.
Wireless Gaming
- The Company’s wireless HTML5 product is on five Carnival brand line cruises and is expected to increase in the near future.
- We continue to develop wireless structure for both online and land based brands.
- The wireless software runs very complementary to our electronic poker table business strategy for those customers wanting to add to the traditional casino offerings.
- The Company expects to see strong growth in its wireless division starting Q1 2016.
Mexico
- Jackpot management continues to be optimistic about the opportunity in the Mexican market, but progress in this area is being held back by Federal Gaming Legislation that needs to be ratified before any progress can occur.
- We have identified opportunities here with strong local partners to leverage our product offering, but we are currently waiting for pending legislature change.
- Terrific e-table synergy/opportunity with existing casino relationships.
Fantasy Horse Racing
- Due to the challenges outside our control, the business has been slower to ramp than expected
- However, we remain optimistic the launch of the business will occur and revenues to be realized from this division.
Mr. Kalpakian further states “The Jackpot team is excited about the recent combination of our strong base in gaming software development with an industry leading position in the e-table gaming market. We have spent 16 years and many millions of dollars developing the best in class gaming software product and with this acquisition we see the opportunity to leverage that into a growing, high margin, recurring revenue gaming business on a global scale”.
About Jackpot Digital Inc. (formerly Las Vegas From Home.com Entertainment Inc.)
Since 1999, Jackpot has been a reputable provider of innovative gaming software offering a multitude of multiplayer games, including poker and casino, and is committed to bringing an enjoyable experience to players and delivering great results to operators. Our lengthy track record in gaming software development, financial accountability, and cardroom operations have made us one of the leading software developers in the industry.
For more information on the Company, please contact Jake H. Kalpakian, President, at (604) 681-0204 ext 6105, or visit the Company’s website at www.jackpotdigital.com.
On behalf of the Board of
Jackpot Digital Inc.
“Jake H. Kalpakian”
_____________________________
Jake H. Kalpakian
President & CEO
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.
This news release contains forward-looking information that involve various risks and uncertainties regarding future events. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/jackpot11102015_0.pdfSource: Jackpot Digital Inc. (formerly Las Vegas From Home.com Entertainment Inc.) (TSX Venture:JP, OTC Pink:JPOTF, FWB:LVH) http://www.jackpotdigital.com/
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