Lvfh In Codere Partnership For Online Gaming In Mexico

By Brian Cullingworth, Last updated Aug 1, 2014

New company to be incorporated in Mexico

Las Vegas From Home (LVFH) has entered into and executed a letter of intent with Codere Group and its partner Salinas TV Azteca Group (The Mexican Partnership) for online gaming in Mexico.
A new company (NEWCO) will be formed, 51 percent owned by Codere and 49 percent by LVFH.
Under the terms of the agreement, LVFH will receive a 25 percent share of profits from the Mexican partnership, will licence its gaming platform to NEWCO and receive ongoing software royalties for the exclusive and sole use of the platform by the Mexican Partnership.
LVFH will pay a consideration of US$ 4 million for its share in the development and marketing of the new venture.
President and CEO of LVFH, Jake H. Kalpakian, commenting on the deal said: "We are thrilled at this development, as LVFH shall now be associated with a leading Multinational Gaming Company such as Codere and with a multimedia conglomerate such as Azteca.
"LVFH shall benefit significantly from this enviable position of participating legally in the huge Mexican iGaming Market and with the opportunity of being able to get involved in other countries in the Americas where online gaming is legal."
The partnership's online gaming website is expected to launch later next month (August) carrying LVFH's latest HTML5-based games accessible across all major platforms.

Online Casino News Courtesy of Infopowa

Brian Cullingworth

Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.

We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.

His passing in February 2019 was a dark day for us. He will be forever missed.

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