Poker Developer Sells US Network

Canadian eGaming software developer Las Vegas From Home.com Entertainment, Inc. (LVFH), has sold its US facing poker network, called the Action Poker Network (APN) to a Norwegian company. The company from Norway, Playsafe Holdings Ltd., a wholly-owned subsidiary of Playsafe Holding AS, has bought APN for $2.35 million. The move to sell the US positioned poker network came after the UIGEA, or Unlawful Internet Gambling Enforcement Act of 2006, passed in the US, making it much more difficult for online poker companies to do business with their American customers. The transaction of money is set to be completed on or before November 17th, 2006. All of the Action Poker brands are included in the sale of APN.