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DATE: May 26 2012
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Poker.co.uk - Poker News Archive

Tuesday 8th June 2004

LegalPlay to purchase copper stake

After announcing their intention to try and diversify as a company last month, LegalPlay Entertainment Inc have revealed that they are negotiating taking over a stake in a Mexican copper project. Although financial details are currently not available, it is known that the online gambling company has signed a deal with Worldwide Silver and Gold Corp.

The stake it will be acquiring covers approximately 633 hectares, which provide a site for mining gold, copper and zinc. This shift in direction is in line with the announcement in May that the company was looking to move its focus from the online gambling industry, to mineral exploration.

It is unclear what LegalPlay will do with its current interests, as they have merely stated that they are considering possibilities- including the option of liberating itself from one of its current sites, www.SkillPoker.com. In the press release sent out in May it is suggested that the main objective for this site is to find a buyer for it, although it also emphasises that there is no guarantee that this will be achieved.

The main reason given in the press release for the sharp change in direction is purely financial, with the President of the company pointing out that two factors in the online gambling industry were responsible for this financial concern- those being the competitive nature of the industry, and the continued banning of the release of internet gambling sites in the USA.

Source: OnlineCasinoNews

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