Fertitta Interactive acquires Cyberarts
27 Oct 2011
"This is the right deal for CyberArts and a tremendous opportunity to continue to provide the best online gaming software in the United States," said Chris Derossi, Co-founder of CyberArts and the architect of the company's successful online software. "Fertitta Interactive's strong vision, commitment to seek federal regulation for online poker, and long history of gaming industry leadership make it the perfect new home for the CyberArts products and personnel," concluded Derossi.
"Fertitta Interactive fully supports the federal regulation of online poker in the United States," stated FI principal Lorenzo Fertitta. "In CyberArts, we found a leader in the development and design of online gaming software with an exemplary track record of regulatory compliance. We will be working on new and innovative products with the goal of ultimately providing consumers with the best online gaming experience in a safe and secure environment," continued Fertitta.
Founded by Frank Fertitta III, Lorenzo Fertitta, Tom Breitling and Tim Poster, all successful entrepreneurs in related industries, FI acquired CyberArts' assets in order to participate in the online "real money" poker and virtual gaming space. FI's principals have a unique history of nurturing and developing businesses in the casino (Station Casinos and the Golden Nugget), Internet travel (Travelscape/Expedia) and sports/entertainment (Ultimate Fighting Championship) industries. "Online poker is a convergence of traditional casino gambling, Internet marketing, technology and entertainment," said Tom Breitling, principal at FI. "The combined management team, at Fertitta Interactive/CyberArts, is uniquely positioned to meet the challenges of the online gaming industry," Breitling added.
Ben Fried, an online gaming expert for Poker Edge Scorecard, agreed with the sentiments of Derossi, Breitling and Fertitta, stating; "CyberArts' poker, and recently announced social bingo products, leverage the latest technology and position Fertitta Interactive very well for growth in the global online market. Their extensive platform and infrastructure have the proven ability to support large scale player populations and multiple business models," Fried concluded.