Sebastian River Holdings, Inc. (OTC: SBRH ), is pleased to announce today, January 10, 2012 that it has officially engaged in discussions toward a Joint Venture with an online gaming casino company that can be played online directly on-site, via smart phones, tablets and with application development for social media gaming which has proven to be a key distribution channel for online gaming. The site currently features free play memberships and is prepared to go live with server and payment systems in place for real money gaming entertainment.

Management feels this is an opportune time to take advantage of the increase in popularity of online gaming brought about by advances in technology and increase in distribution models via mobile and social media networks.

A recent Forbes article, states: “The potential for online poker and other casino games in the U.S. is enormous. The global gambling industry’s total gross win (a measure of how much money gambling companies make, and their customers lose) is expected to grow 5.6% to $417 billion this year, according to intelligence firm H2 Gambling Capital. 8.1%, or $33.8 billion, will come through interactive, or online, channels, and that is expected to grow to just under 10% by 2015.”

Sebastian execs are confident the parties will reach a collectively beneficial arrangement that will bring additional equity stake and revenues to the company toward an increase in shareholder value . Details are forthcoming.

The company is thrilled with the progress made the last few weeks and is confident in its plans to diversify with entry into the multi-billion dollar online gaming market.

Executives are confident that the work thus far will result in exponential return on investment including near term revenues and are thrilled to be working on finalization of a win-win JV with proficient partners in the online gaming realm.