Solna, Sweden (29 April 2009). As previously announced a Letter of Intent to sell the operations in Casagaming ltd., which operates the gaming site 24hPoker.com, to iGame ltd. was signed on April 14th. Now the final agreement is signed and iGame will continue to operate the sites in Entraction's network. Entraction hereby completes the transition to focus solely on being a supplier of products and services for internet gaming. This Letter of Intent includes that iGame Ltd acquires Casagaming Ltd's assets, i.e. domains, customer registry and brands. The valuation of the assets is € 4,500,000, of which Entraction's share is € 2,565,000. € 285,000 of that amount is a so called earn out to be paid out on 31 July 2010, provided that certain conditions are met. As a consequence of this agreement Casablanca Gaming Group AB will be closed down. "The selling of the gaming operations is a milestone for Entraction and enables us to focus 100% on our supplier operation. I am very pleased that this transaction has been finalized quickly as this type of discussions risk to disrupt the operations. I trust that iGame will continue to operate the gaming sites very successfully", says Peter Åström, CEO Entraction. For more information, please contact: Peter Åström CEO, +46 8 564 884 60 Pia Rosin, Corporate Communications Manager, +46 70 753 22 46 About Entraction Entraction Holding AB is an investment company within the digital entertainment industry. The company controls the subsidiaries Entraction Solutions AB and Casablanca Gaming Group. Entraction Holding AB is listed on the First North marketplace of the OM X Nordic Stock Exchange and has approximately 8 000 shareholders. The company's Certified Advisor is Remium AB. Entraction Solutions AB is a gaming group that offers its partners software systems for poker, sports betting and casino, access to the poker network and a range of peripheral services such as website design, gaming licenses, operation, payment systems, promotional tools and 24/7 support to players. The poker network is operated by subsidiaries on Malta that are licensed to market and conduct their own gaming activities and to deliver gaming services to partners in the poker network. Please visit www.entraction.com for more information.
Final agreement signed regarding sale of operations in Casagaming Ltd
| Quelle: Entraction Holding AB