Does Next Group have live dealer ambitions?
News on 12 Mar 2016
News on 12 Mar 2016
The announcement this week by Miami-based mobile technology specialist Next Group Holdings that it is considering an option to acquire a controlling stake in gambling video streaming firm Lubar Technologies triggered immediate speculation that Next may have live dealer gambling ambitions.
Founded in 2002, Lubar has applications that allow real physical casinos located throughout the world to market games – including blackjack, poker, roulette, and dice games – to the online gaming market.
“Focusing on providing the best video quality, audio clarity, and usability for end users and service providers, Lubar’s video conferencing gaming system transforms the way players participate in online gaming, while enabling physical casino operators profitable new services and revenue streams,” a statement from the company claims.
Lubar owns patents for its technology in more than 20 countries throughout the world, information that can be accessed here: http://www.lubar-tech.com/patents.html.
Arik Maimon, chief executive of Next Group commented in a presser this week:
“If, as expected, we exercise the option, we plan to integrate certain unique features of NxtGn’s proprietary AVYDA HD video technology into Lubar’s products and services, making the Lubar user’s experience even better.”
“Deploying NxtGn AVYDA technology will give us a competitive advantage in the $30 billion per annum online gaming industry,” said Yacob Rafaeli, founder and CEO of Lubar.
Under the option agreement, after completing due diligence, Next will have the right to acquire 78 percent of the membership interests in Lubar Technologies, LLC for $1,500,000, all in Next common shares.
