MIAMI, March 11, 2016 /PRNewswire/ --
Next Group Holdings, Inc. (OTC: PLKD) announced today that, as part of its continuing efforts to maximize commercial application and usage of its NxtGn subsidiary's proprietary NxtGn AVYDA technology and its HD video network, and to accelerate revenue growth, PLKD has signed an agreement granting PLKD an exclusive option to purchase a controlling interest in Lubar Technologies, LLC.
Founded in 2002, Lubar is in the business of redefining the live gaming experience by developing and providing innovative video conferencing gaming solutions. Lubar applications allow real physical casinos located throughout the world to market their games-including blackjack, poker, roulette, and dice games, among others-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.
Using Lubar technology, players remotely accessing casino games from their home computers are able to see and talk with the dealer or croupier and with other players, as if they were in the casino. Using real cards, real dice, real casino equipment, and a live dealer preserves the element of randomness and enhances the experience of realism for remote gamers.
Lubar owns patents for its technology in more than 20 countries throughout the world. Information about Lubar's patents can be accessed here: http://www.lubar-tech.com/patents.html. Additional information about Lubar's products and services can be accessed here: http://www.lubar-tech.com
"If, as expected, we exercise the option," said Arik Maimon, Chairman and CEO of PLKD, "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, PLKD will have the right to acquire 78% of the membership interests in Lubar Technologies, LLC for $1,500,000, all in common shares of PLKD.
About Us: PLKD is a corporation headquartered in Miami, Florida, which, through its operating subsidiaries, engages in the business of using proprietary technology and certain licensed technology to provide innovative mobile banking, mobility, and telecommunications solutions to underserved, unbanked, and emerging markets. PLKD's principal executive offices are located at 1111 Brickell Avenue, Suite 2200, Miami, Florida 33131, and its telephone number at that location is (800) 611-3622. PLKD's web address is nextgroupholdings.com.
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Next Group Holdings, Inc.
SOURCE Next Group Holdings, Inc.