FORT LAUDERDALE, Fla., Aug. 25, 2005 (PRIMEZONE) -- Dragon Venture (Pink Sheets:DRGV), a holding company of high-tech companies in China, announced today that a subsidiary has signed a letter of intent ("LOI") to acquire the exclusive marketing rights for the online poker site, CardRoom.net. The LOI with Green Dolphin Marketing, LLC, a Nevis company, outlines the Asia Marketing Agreement. The LOI was signed by Yastand Hong Kong International Group Company, Limited ("Yastand"), a subsidiary of Shanghai Yazheng Information Technology Company, Limited. Shanghai Yazheng Information Technology Company, Limited is a subsidiary of Dragon Venture.
Yastand will retain exclusive marketing rights for the poker site in China, Hong Kong, and Taiwan. According to the LOI, Yastand will receive a 40% payout on all revenues net of expenses, chargebacks or other miscellaneous transaction fees received by Green Dolphin Marketing, LLC on referrals generated by Yastand. All expenses will be defined in the Asia Marketing Agreement.
Lawrence Wang, CEO of Dragon Venture, commented, "We are extremely excited about marketing rights for CardRoom.net. As the popularity of poker games explodes in the U.S. and Europe, we believe that the popularity of poker will be gaining traction in China, Hong Kong and Taiwan in the very near future. This acquisition falls within our strategy to become a leading high-tech holding company in China."
Mr. Wang concluded, "We are formulating our marketing strategy with marketing professionals in the gaming industry in China. We believe our marketing program will quickly drive CardRoom.net to a new level. The economic profits for us could be tremendous for years to come, considering the rapid growth of the online gaming industry in China, Hong Kong and Taiwan recently."
About Dragon Venture
Dragon Venture ("Dragon") is doing business in China through its subsidiaries. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger and acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Our focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. In addition, the company acquires and invests in innovative technology companies in China or forms joint ventures with both American and Chinese companies, focusing on emerging technology industries including telecommunication, information technology, wireless applications, and other high-tech industries. For more information about Dragon Venture, please visit http://www.dragonventure.net.
About CardRoom.net
CardRoom.net provides exciting poker action with a wide variety of buy-ins for everyone from beginners to experienced players. Play for fun at our free chip tables with other poker players from all around the world! It provides the most secure and advanced software as well as the best customer service team available anywhere. CardRoom.net was designed with you, the poker player, in mind. With the assistance of top professional players and online gaming designers, CardRoom.net offers user-friendly software making your poker playing experience exciting, easy, and most of all, fun! CardRoom.net offers a wide variety of Texas Holdem Limit or No Limit games, Single or Multi-Table tournament games and various tournament qualifiers to events like the World Series of Poker and the World Poker Tour.
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