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Las Vegas From Home.com Entertainment Inc. and C Y Foundation Group of China
 August 13, 2008, 9:13 am (3 years ago)The online gambling software developer Las Vegas From Home.com Entertainment Inc. (LVFH) has announced that it has streamlined its contract with C Y Foundation Group of China.
Under the amended contract, Las Vegas From Home is going to supply C Y Foundation with software aiming Chinese residents in return for a licensing royalty charge.
Las Vegas From Home.com Ent. Inc. revealed that consequently the company not progressing with its deal with CY Foundation Group Limited (CYF) and Touchdown Capital Inc. as stated on May 8, 2008, it has sold back the Exclusivity Rights to CYF and productively re-conferred and went into a recently renewed Software Licensing Agreement with CYF.
"According to the new SLA, the Company is going to supply CYF with software for the whole People's Republic of China (PRC) and is going to be paid a licensing royalty by CYF," a company announcement stated.
LVFH's CEO, Jacob H. Kalpakian said, "We are expecting to offer CYF with our merchandise, and we really trust our new relationship with CYF is better suitable to meet each partner’s interests in the quickly growing Chinese market."
C Y Foundation Group Limited was linked in a joint marketing and operations contract with AsianLogic Limited previously this year to build a pan-China online gaming network.
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