Louisiana Food Co. Seizes Opportunity to Diversify Operations, Launches TouchPoker.com Website
12 Janvier 2012 - 4:00PM
Marketwired
Louisiana Food Company (OTCBB: LUSI), a purveyor of "Certified"
Louisiana specialty food products, today announced that it has
launched an online poker website, TouchPoker.com -- TouchPoker.com
will feature free Texas Hold 'em virtual tables and, until
licensing is obtained, is a for-entertainment-only site, legal for
all users, including those in the United States.
In response to a December 2011 U.S. Department of Justice
opinion (see discussion below), one of LUSI's founders, David
Loflin, assigned to LUSI the TouchPoker.com domain name and the
software system required to operate an online poker site. Mr.
Loflin contributed these assets to the company and received no
consideration for them.
"I've had a keen interest in the online poker business for many
years and had been following the Justice Department's handling of
the issues that resulted in its December opinion that has revived
prospects for legal online poker," said David Loflin, LUSI's
President. "Our company has every intention of becoming a serious
participant in the $115 billion U.S. gambling industry and we are
going to seek a state license to operate a full-on, legal online
poker site. We also believe that the current economic environment
that has states searching for new revenue streams plays in favor of
those seeking to operate in the online environment, including our
company," he added.
Mr. Loflin also confirmed that his decision to contribute the
online poker assets to the company was based in his commitment to
all of the shareholders of LUSI, especially those who have
supported the company's efforts through the early stages of
development, to pursue all available opportunities that would
enhance overall company value in both the short and long term.
With TouchPoker.com, Mr. Loflin intends to draw on his
gambling-industry experience during the mid-2000's, when he was
involved in the movement in Nevada that resulted in the passage of
a law (Nevada Law AB471 - 2005) legalizing wireless gambling on
casinos' premises -- these activities also included efforts in
shaping the associated regulations. Following these efforts, Mr.
Loflin was involved in operating for-entertainment-only online
poker sites.
In December 2011, the U.S. Department of Justice (DOJ) issued an
opinion that sparked renewed prospects for, and interest in, the
development of online, intrastate poker in the United States. In
fact, prior to the DOJ's opinion, the State of Nevada had passed
legislation that would allow for companies to offer online poker
and the new ruling may allow that state to proceed with an
intrastate online poker offering for its citizens. Also, earlier in
2011, the Nevada Gaming Control Board announced that certain
companies had applied for licenses, but that the Board was holding
off until the federal government announced a stance. With the
change in the DOJ's opinion, the Board may be able to move forward
with offering online intrastate poker to Nevada residents.
As a Nevada corporation, LUSI has stated its intention to seek a
license for intrastate online poker in one or more
jurisdictions.
About Louisiana Food Company
In addition to pursuing its license for operating a legal online
poker website, LUSI is devoted to locating, developing and
commercializing food-related business opportunities in the State of
Louisiana. Currently, LUSI has established three lines of
"Certified" Louisiana specialty food products: Packaged Dry
Products (marketed under LUSI's "Louisiana Food Company" brand
name), (2) Coffee Products (marketed under LUSI's "Voodoo Roast"
brand name) and (3) Sauce Products (to be marketed under LUSI's
"The Quarter's" brand name). LUSI's specialty food products are
sold through distributors, directly to retail grocery stores,
directly to other retailers and directly to consumers through its
online store located at: www.louisianafoodcompany.com.
The information in this press release includes certain
"forward-looking" statements within the meaning of the Safe Harbor
provisions of Federal Securities Laws. Investors are cautioned that
such statements are based upon assumptions that in the future may
prove not to have been accurate and are subject to significant
risks and uncertainties, including the future financial performance
of the Company. Although the Company believes that the expectations
reflected in its forward-looking statements are reasonable, it can
give no assurance that such expectations or any of its
forward-looking statements will prove to be correct. Readers are
cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date of this release, and the
Company undertakes no obligation to update publicly any
forward-looking statements to reflect new information, events, or
circumstances after the date of this release except as required by
law.
Contact: Eddie Cruz Acer Communications, Inc. 949-390-0111
info@acercinc.com
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