AUTHOR: Jerry "Jet" Whittaker TITLE: Las Vegas From Home.Com Entertainment Closes the Sale of Action Poker Gaming DATE: 1:58 AM ----- BODY: Las Vegas from Home.com Entertainment announced it has closed the sale of its subsidiary Action Poker Gaming for US $2,600,000, an increase of US $250,000 from the original sale announced on October 26, 2006. A finder's fee of US $75,000 is payable to an arm's length third party. Following this transaction, the Company has a current cash balance of approximately Cdn $8,500,000 and no debt. The sale included, among other things, all of the Action Poker brands, the operating infrastructure in Action Poker Gaming Inc., APG Costa Rica S.A. and Action Commerce Limited and an undivided interest in the software used by the Company to run its Action Poker Network. As a result of the sale, the Company will no longer have any online gaming interests in the North American market nor will it until the legislative landscape changes. Company President Jake Kalpakian states "The sale of APG and associated properties will now allow the Company to streamline its operations and focus on building upon its promising Asian Multiplayer Software Platform ("AMSP") which now has two licensees and is already generating revenues. Furthermore, the Company has been receiving a tremendous amount of interest for this particular product from prospective licensees. We believe our unique Software should enable us to capitalize on niche or nascent market opportunities in that region." The Company's Q3 2006 results will be released on Wednesday, November 29, 2006.
As a result of the sale of APG, the Company will not hold a conference call to discuss the most recent quarter's results. It will provide an update regarding its AMSP in the New Year or sooner as developments warrant. --------