Devil Fish Poker sale confirmed
Devil Fish Poker Ltd is to be bought by online gaming and lottery company The Weather Lottery.
A conditional agreement has been reached that will see The Weather Lottery pay £330,000 in cash and shares to Devilfish Gaming plc to take control of the poker brand, adding it to their existing FCBetz.com and FC Lotto ventures. The deal is to be broken down into a £40,000 cash payment and £290,000 worth of new The Weather Lottery shares. Devil Fish Gaming say the cash payment will be used to settle existing liabilities and to help the company continue trading until it can find a suitable transaction or merger option. Founded by legendary British poker player Dave ‘Devilfish’ Ulliott, Devil Fish Poker registered an operating loss of £110,000 on turnover of £780,000 for the year up to 30 June.
“Devil Fish Poker has an established brand name in a sector which is complimentary to the existing gaming operations of The Weather Lottery,” said The Weather Lottery chairman Lord Razzall. “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 Devil Fish Poker products. The board considers its acquisition at a time when there is still considerable untapped potential for development fits in with our gaming strategy.”