TWL SELLS DEVILFISH POKER

TWL SELLS DEVILFISH POKER
 
For a GBP 1 consideration
 
In a trading statement released Monday, The Weather Lottery Plc (TWL) reported a 10 percent decline in sales for the year to July 31 2013 despite a positive contribution for all its subsidiaries, with the exception of Devil Fish Poker Limited.
 
The group revealed it is in the process of overhauling its lottery division's systems and software which will see the launch of a new website at theweatherlottery.com through which players will be able to play online.
 
TWL said its Lottery and Gaming&Payment Software divisions will be the focus of the Group moving forward and as such is reviewing the viability of its The Soccerdome Limited subsidiary where the Board will consider either an outright sale or a joint venture.
 
Due to further falls in activity levels of its Devil Fish Poker Limited subsidiary, TWL has agreed the sale of the subsidiary to Jeff Williams, the former managing director of TWL's Online Gambling subsidiaries for a nominal consideration of GBP 1 in return for the immediate termination of Williams' consultancy agreement.
 
TWL acquired Devilfish Poker Limited towards the end of 2010 for a GBP 40 000 cash and GBP 290 000 in shares consideration from Devilfish Gaming Plc .