August 25, 2005 (London, UK) – Behind every groundbreaking new idea is a bright entrepreneurial management team, and PokerShare.com (www.pokershare.com) is no exception. Playit Ownit Limited, the company behind the next generation poker site PokerShare.com, creates the world’s first poker site that players own. In the next 12 months, this revolutionary concept is expected to propel PokerShare into the top 10 list of online poker sites.
Playit Ownit Limited was founded earlier this year with the launch of PokerShare.com. The group has set up a software agreement and license with a third party and has servers located in the Kahnawake Mohawk Territory.
PokerShare.com is led by CEO Lucan Toh and Director Max Wright and backed by Mr. Stephen Forsyth and his associates. Lucan Toh left Procter & Gamble in 2004 to join ICC PLC and he currently sits on the board of Library of Life PLC and TFK Investments Ltd. Max Wright, an ex-City Trader from UBS Warburg and Van Der Moolen, brings his wealth of poker knowledge with his solid mathematics and financial background.
Mr. Stephen Forsyth, Chairman of Playit Ownit Limited is the driving force behind an extensive repertoire of companies that spans over 30 countries, including several ventures in gaming. Forsyth believes this is the future of online poker: “Our concept is clear-cut and built for the players with their needs in mind. PokerShare fills a gap that no other serious poker site has and is going above and beyond standard loyalty schemes.”
PokerShare.com will operate as a normal poker website – with a significant twist. It will release 40 percent of its company’s overall profits back to the players. When you play on PokerShare.com you earn SharePoints from the length of time you play, the number of pots you play and from playing in tournaments. SharePoints then relate to the total percentage of the profit share you receive.
“Dividends paid to players will be divided quarterly depending on each player’s participation on the site, rewarding players that play most regularly with the largest share of the profits. To ensure fairness, the Gibraltar-based Poker Share Trust has been established to administer payments to players. It’s a concept expected to hold strong appeal with high end users looking to be rewarded for their loyalty,” explains PokerShare Trust Chairman Stefan Taylor.