Sebastian River Holdings Reports Discussions to Partner with Online Casino Platform
Jan 16, 2013 (Close-Up Media via COMTEX) --
Sebastian River Holdings, Inc., announced it has officially engaged in discussions toward a Joint Venture with an online gaming casino company that can be played online directly on-site, via smart phones, tablets and with application development for social media gaming.
According to a release, the site currently features free play memberships and is prepared to go live with server and payment systems in place for real money gaming entertainment.
Management feels this is an opportune time to take advantage of the increase in popularity of online gaming brought about by advances in technology and increase in distribution models via mobile and social media networks.
A recent Forbes article, states: "The potential for online poker and other casino games in the U.S. is enormous. The global gambling industry's total gross win (a measure of how much money gambling companies make, and their customers lose) is expected to grow 5.6 percent to $417 billion this year, according to intelligence firm H2 Gambling Capital. 8.1 percent, or $33.8 billion, will come through interactive, or online, channels, and that is expected to grow to just under 10 percent by 2015."
Sebastian execs are confident the parties will reach a collectively beneficial arrangement that will bring additional equity stake and revenues to the company toward an increase in shareholder value. Details are forthcoming.
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