Unedited news and product information from vendors.
Fertitta Interactive Announces the Purchase of CyberArts
Oct 26, 2011 (04:10 PM EDT)
LAS VEGAS, Oct. 26, 2011 /PRNewswire/ -- Fertitta Interactive LLC (FI) announced today that it has purchased the assets of CyberArts Licensing LLC (CyberArts), an online gaming solutions company based in Oakland, California. By joining Fertitta Interactive, the CyberArts team will continue to advance its industry-leading online products, including poker, while benefitting from FI's principals' casino expertise, extensive media platform, and proven success at reaching the coveted 21-40 year old male demographic. Although based in the United States, CyberArts has never accepted wagers from US customers.
"This is the right deal for CyberArts and a tremendous opportunity to continue to provide the best online gaming software in the United States," said Chris Derossi, Co-founder of CyberArts and the architect of the company's successful online software. "Fertitta Interactive's strong vision, commitment to seek federal regulation for online poker, and long history of gaming industry leadership make it the perfect new home for the CyberArts products and personnel," concluded Derossi.
"Fertitta Interactive fully supports the federal regulation of online poker in the United States," stated FI principal Lorenzo Fertitta. "In CyberArts, we found a leader in the development and design of online gaming software with an exemplary track record of regulatory compliance. We will be working on new and innovative products with the goal of ultimately providing consumers with the best online gaming experience in a safe and secure environment," continued Fertitta.
Founded by Frank Fertitta III, Lorenzo Fertitta, Tom Breitling and Tim Poster, all successful entrepreneurs in related industries, FI acquired CyberArts' assets in order to participate in the online "real money" poker and virtual gaming space. FI's principals have a unique history of nurturing and developing businesses in the casino (Station Casinos and the Golden Nugget), Internet travel (Travelscape/Expedia) and sports/entertainment (Ultimate Fighting Championship) industries. "Online poker is a convergence of traditional casino gambling, Internet marketing, technology and entertainment," said Tom Breitling, principal at FI. "The combined management team, at Fertitta Interactive/CyberArts, is uniquely positioned to meet the challenges of the online gaming industry," Breitling added.
Ben Fried, an online gaming expert for Poker Edge Scorecard, agreed with the sentiments of Derossi, Breitling and Fertitta, stating; "CyberArts' poker, and recently announced social bingo products, leverage the latest technology and position Fertitta Interactive very well for growth in the global online market. Their extensive platform and infrastructure have the proven ability to support large scale player populations and multiple business models," Fried concluded.
About Fertitta Interactive:
Fertitta Interactive (FI) is focused on the business of online games, social gaming, and entertainment with an emphasis on online poker opportunities in the United States. The company supports the enactment of federal legislation and the regulation of online 'real money' poker in the United States and offers industry-leading games with the highest level of integrity. The company was established in 2010 by Frank Fertitta III, Lorenzo Fertitta, Tom Breitling and Tim Poster. They have worked together on various projects since the early 1990s, when the Fertittas were investors in Travelscape, an online travel company that was founded by Breitling and Poster and purchased by Microsoft's Expedia, Inc. in 2000. The principals have a unique history of nurturing and developing businesses in the casino (Station Casinos and Golden Nugget), Internet travel (Travelscape/Expedia), and sports/entertainment (Ultimate Fighting Championship) industries. Fertitta Interactive is headquartered in Las Vegas.
SOURCE Fertitta Interactive LLC