Sebastian River Holdings, Inc. Enters Discussions to Partner with Online Casino Platform
TORRANCE, Calif.--(BUSINESS WIRE)-- Sebastian River Holdings, Inc. (OTC:SBRH), is pleased to announce it has officially engaged in discussions toward a Joint Venture with an online gaming casino company that can be played online directly on-site, via smart phones, tablets and with application development for social media gaming which has proven to be a key distribution channel for online gaming. The site currently features free play memberships and is prepared to go live with server and payment systems in place for real money gaming entertainment.
Management feels this is an opportune time to take advantage of the increase in popularity of online gaming brought about by advances in technology and increase in distribution models via mobile and social media networks.
A recent Forbes article, states: "The potential for online poker and other casino games in the U.S. is enormous.The global gambling industry's total gross win (a measure of how much money gambling companies make, and their customers lose) is expected to grow 5.6% to $417 billion this year, according to intelligence firm H2 Gambling Capital.8.1%, or $33.8 billion, will come through interactive, or online, channels, and that is expected to grow to just under 10% by 2015."
Sebastian execs are confident the parties will reach a collectively beneficial arrangement that will bring additional equity stake and revenues to the company toward an increase in shareholder value. Details are forthcoming.
The company is thrilled with the progress made the last few weeks and is confident in its plans to diversify with entry into the multi-billion dollar online gaming market.
Executives are confident that the work thus far will result in exponential return on investment including near term revenues and are thrilled to be working on finalization of a win-win JV with proficient partners in the online gaming realm.
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Sebastian River Holdings, Inc.
Peter Matousek, 424-258-0167
KEYWORDS: United States North America California
The article Sebastian River Holdings, Inc. Enters Discussions to Partner with Online Casino Platform originally appeared on Fool.com.
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