The Weather Lottery Acquires Devilfish Poker Ltd.

Published Wednesday, December 22, 2010 - Online-Casinos.com

The Weather Lottery plc, has acquired the subsidiary of Devilfish Gaming, Devilfish Poker Ltd, for the reasonable sum of £333,000.
The Weather Lottery bills itself as the leading lottery fundraiser in the United Kingdom which helps raise funds for charities, education, sports organizations, and a variety of other institutions. The Weather Lottery says it has “10 years of business experience in Lotteries and is registered with the Gambling Commission as an External Lottery Manager.”
Within the terms of the agreement the Weather Lottery company will put £40,000 cash up front with the balance being completed with £290,000 worth of Weather Lottery shares. Devil Fish Poker revealed that the cash will be used to settle its liabilities and keep it functioning while seeking further business opportunities.
Devil Fish Poker Ltd, was causing the Devilfish Gaming firm some problems from the outset when it was unsuccessful in the acquisition of a UK white listing which created an advertising ban for its products in the lucrative British online poker market. This in conjunction with the downward trend in the economy saw Devilfish Poker post a net loss of £106,331 by June 30th 2010.
Poker pro Dave “Devilfish” Ulliott, the U.K.’s highest earning poker professional has kept the brand active and valued. His style and presence has given the pro winning numbers since 1993 earning him over $5.8 million including a WSOP bracelet in 2007 at the $2k PLO event.
Lord Razzall chairman for the Weather Lottery company commented, “Devil Fish Poker has an established brand name in a sector which is complimentary to the existing gaming operations of TWL. We have a growing database of users in both FCBetz.com and FC Lotto some of whom will we believe wish to take advantage of the DFP products. The Board considers its acquisition at a time when there is still considerable untapped potential for development fits in with our gaming strategy.”

 

 

 

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