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Cake Gaming, Lock Poker Unveil Revolution Gaming Network as Part of Acquisition Deal
As first broken by Gambling911.com early Sunday, Lock Poker is acquiring the Cake Poker Network. The Cake Poker Room, as mentioned on Sunday, will continue to operate as a separate entity.
Cake Gaming N.V. announced on Monday that it was in the process of “selling selected assets to Lock Poker, enabling Lock to rebrand the existing Cake Network to Revolution Gaming”.
The company also conveyed that it “will continue operations providing al of its current Network partners, sites and players the opportunity to be part of the Revolution Gaming Network.
The statement further read:
Cake is excited about the benefits this deal will offer all of its partners and players, including increased player rewards, a richer tournament schedule and new product features. This deal also allows Cake to focus efforts on its current European, South American and Asian business with another exciting announcement to soon follow.
Lock Poker also issued an official release early Monday morning.
Lock is in the process of acquiring assets from Cake and will be re-branding the Cake Network to launch Revolution Gaming, driving technology, marketing, player rewards and implementing a richer tournament schedule. The LockPRO team will be at the foundation of these changes. They will come together and offer their recommendations on all levels, truly bringing the player into the boardroom.
To all existing Lock players this move will be seamless - it will take the form of a simple software update happening on May 31st. You will login to find your real money balance as well as everything else you know and love about Lock. Lock will also continue to manage their own stand-alone cashier so withdrawals will be as fast and easy as they are now. All players' current player VIP rewards will only increase and all rakeback players will be moved over to the increased percentage on Revolution.
Lock will be leaving the Merge Gaming Network by month’s end.
Gambling911.com has also been advised that the Lock Poker Series (or LockOPS) anticipates a reintroduction this fall via the newly rebranded network. Merge Gaming, where Lock currently resides, abruptly canceled the series just days before it was set to begin.
"We are very excited at the prospect of driving the product, marketing and overall vision of the network. It is a dream come true," says Jennifer Larson, CEO of Lock. "Merge was a great stepping stone for us but we have outgrown them. We really need to forge our own path to continued success. The only way to do this is to stay true to our of core philosophy: partnering with our players."
- Chris Costigan, Gambling911.com Publisher
Submitted by C Costigan on Mon, 05/07/2012 - 10:59