Update: New Owner Of Devilfish Poker

GBP330 000 for Dave Ulliot's renown online poker site Devilfish Poker has been acquired by The Weather Lottery plc (TWL), an online gambling company that came into the spotlight earlier this year offering its online FCBetz and FCLotto products to UK football clubs Previously owned by Devilfish Gaming plc., Devilfish Poker.com was generally connected with its founder Dave 'Devilfish' Ulliott, a famous and esteemed international poker player. "Devil Fish Poker has an established brand name in a sector which is complementary to the existing gaming operations of TWL. 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 DFP products. The Board considers its acquisition at a time when there is still considerable untapped potential for development fits in with our gaming strategy," Lord Razzall CBE, TWL Chairman, commented. The acquisition cost a total of GBP330 000, made up by a cash payment of GBP40 000, and the issue of 30 million new ordinary shares. In its year ended 30 June 2010, DFP made an operating loss of GBP106,331 on a turnover of GBP783,353. As at that date, it had net liabilities of GBP10,802. Earlier this week, a TWL spokesman said that the Devil Fish Poker brand is known and respected nationally and internationally, especially in Europe. Underlining that TWL has recognized undeveloped potential to promote and exploit the brand, he said that the company will target not only the existing active players, but also prospective punters registered on the Devilfish data base counting thousands of names. Commenting the cross-selling, he said: "In addition there is the clear opportunity of significant cross selling of FCBetz.com products and the Devil Fish Poker brand into each other's respective databases. The Board believes that this, coupled with a reduction in overhead of DFP by consolidating its marketing through TWL`s existing channels, will bring long term financial benefits and accelerate the Board's strategy to become a significant operator in the online gambling sector.” "There is potential for significant international growth based on the existing awareness of the Devil Fish Poker name and brand. Whilst the sector has experienced some leveling off, the possibility of further expansion into Asia and, if legislation should allow, into the United States gives this already established brand a new and exciting impetus," he concluded. TWL entered the online gambling sector following its deal with Coventry City Football Club. Soon afterwards, the deals were closed with six other clubs, including Glasgow Rangers, Derby County, Sheffield Wednesday and Leicester City. The most recent deal with Glasgow-based commercial radio station Clyde1 acquired the brand access to 13.5 million listeners.