IGV Ltd. Acquires ImperialPoker.com
LONDON – IGV Limited, (privately held), which ownsand operates the web site, PokerSyndicate.com, announced today theacquisition of ImperialPoker.com. Imperial Poker will undergo are-branding and will be consolidated with the company's PokerSyndicate.comweb site.
Founded by a determined group of poker professionals that grew tired ofseeing the poker player taken advantage of, PokerSyndicate.com haslaunched a novel, proprietary concept that will revolutionize the industry.
PokerSyndicate.com is a "For Players .... by Players" player friendlysite. It is the only site in the world that is 100% owned by those who playon the site. It is not only the site you play on. It is the site you own.The concept is simple. Poker sites make money by charging, either, a rake atthe cash game tables or a tournament entry fee. Every time one of the playerslogs on and plays at PokerSyndicate.com, they will receive a credit backof 50% of all of the rake they paid and the entry fee they paid, in the formof stockholder equity ownership in the site. "The more you play, the more youown."
It is hard equity ownership, not a profit sharing scheme, nor aparticipation of profits that go into a trust, where the players receive asmall participation percentage. The shares earned are the players' to keepand do with as they please. If a player stops playing on the site, the playerstill retains the shares they have earned and will continue to receivedividends. In fact, not only do the players participate in the appreciatedvalue of their share ownership, the Company has announced that it willcontinuously distribute a minimum of 50% of all profits derived, toshareholders on a quarterly basis, beginning the end of the third fiscalQuarter, September 30, 2006.
The company is very optimistic as to its future success. The receptionfrom the Poker Community has, thus far, been very favorable, and specifically,the Company's proprietary concept has been extremely well received.
2006-03-30
