Iowa Tribe acquires majority stake in internet gaming company

PokerTribe.Com, a venture of the Iowa Tribe of Oklahoma, has yet to offer real-money play. The Iowa Tribe of Oklahoma is still hoping to launch a real-money gambling website despite repeated delays.

PokerTribe.Com was supposed to start offering games on August 1 and then on October 16 but that deadline has come and gone. Chairman Bobby Walkup told The Oklahoman that the tribe is still working on securing approvals for the site.

"I don't envy some of the tribes coming behind us that will have to do this," Walkup told the paper. "There are a lot of steps and pieces to the puzzle."

While those efforts continue, the tribe has paid $10 million to acquire a 51 percent stake in the internet gaming company that is behind the delayed website, The Oklahoman reported. Universal Entertainment Group at one point had been working with the Cheyenne and Arapaho Tribes on a similar project but it was killed amid concerns about cost. UEG claimed it spent $40 million on "PokerTribes.Com" while the tribe reportedly spent close to $10 million.

Read More on the Story:
Tribe has $10 million deal with poker website developer (The Oklahoman 12/12)

Relevant Documents:
Iowa Tribe Arbitration Decision | Complaint: Iowa Tribe v. State of Oklahoma | Iowa Tribe Letter to State of Oklahoma | State of Oklahoma Letter to Iowa Tribe

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