WPFH Sells Partial Rights to Peer-To-Peer Gaming Asset for $2.5 Million

LOS ANGELES, CA, July 30, 2018 (GLOBE NEWSWIRE) -- World Poker Fund Holdings, Inc. (OTC PINK: WPFH), a leading developer and operator of on-line technology, gaming platforms and brands, announces today that it has signed an agreement to sell a portion of its Peer-to-Peer Betting technology for $2.5 million. 

WPFH is selling the foreign rights to its recently acquired Peer-to-Peer betting technology and  will be retaining the US rights and will continue with its plans to integrate the Peet-to-Peer Betting technology with its other recently acquired app Picking Duck.

“The partial sale of this asset will result in WPFH booking over $2 million in  profits for the third quarter.  This transaction is a win-win situation as WPFH will have additional funds from the sale, while retaining the US licensing rights of the technology,” says Travis Kasper, CEO of WPFH.

In addition, WPFH announced that the $2.5 million private placement funding that it announced earlier this month, under which PW Holdings will purchase 1 million shares in WPFH at the agreed upon price of $2.50 per share, is proceeding as expected. WPFH expects to have that transaction closed within the next 45 days.

 About World Poker Fund Holdings, Inc.

World Poker Fund Holdings, Inc. is a leading developer and operator of on-line technology, gaming platforms and brands. The company does not offer any games or gaming opportunities for cash in the United States and is not licensed as a gaming operator in the United States or any other jurisdiction.

 To learn more about World Poker Fund Holdings (WPFH) and its upcoming events, please visit www.worldpokerfund.com.

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.


Contact Data