Chinese holding company Dragon Venture announced that one of its subsidiaries has inked a letter of intent to buy exclusive marketing rights to online poker room CardRoom.net. The letter of intent was signed by Yastand Hong Kong International Group Company, Limited, a subsidiary of Shanghai Yazheng Information Technology Company, Limited, which is in turn a subsidiary of Dragon Venture. According to the letter, Yastand will acquire exclusive rights to marketing the online card room in China, Hong Kong, and Taiwan.
Regarding the the upcoming deal, Dragon Venture CEO Lawrence Wang said, "We are extremely excited about marketing rights for CardRoom.net. As the popularity of poker games explodes in the U.S. and Europe, we believe that the popularity of poker will be gaining traction in China, Hong Kong and Taiwan in the very near future. This acquisition falls within our strategy to become a leading high-tech holding company in China."
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