Las Vegas From Home.com Entertainment Reports Second Quarter 2007 Results

Las Vegas From Home.com Entertainment Inc. (TSX
VENTURE:LVH)(OTCBB:LVFHF)(BERLIN:LVH)(FRANKFURT:LVH) (the "Company") or ("LVFH")
today announced results from operations for the three and six months ended June
30, 2007.


All financial figures are in Canadian dollars.

Q2 Progress

As a result of the recent legislative developments in the North American market
and the significant potential in the nascent Asian market, the company has
focused its strategic efforts on developing a multi-player gaming platform
targeted at the Asian market. The Company has turned its focus towards
developing specific products for specialized markets.


The second quarter of 2007 was a transitional one for LVFH and does not reflect
the progress the Company has made with its product and its market position in
Asia according to Jake Kalpakian, President and CEO. "Our Q2 numbers were
impacted due to a combination of factors. As a result of a strengthening
Canadian dollar during the quarter, the Company was negatively impacted by
approximately $500,000 just in Foreign Exchange fluctuations. Other factors also
significantly adding to the negative impact were stock-based compensation,
amortization and a special one-time goodwill marketing rebate. Furthermore, the
Company's decision to delay the commercial launch of its own website in favour
of concentrating on the development of a specific business initiative must also
be considered in this quarter's results".


The Company incurred a loss of $1,641,628 as compared to a loss of $360,306 in
Q1 2007 and a loss of $853,501 for the comparative quarter in 2006.


Mr. Kalpakian continues, "As mentioned above one must note the nature of the
factors which contributed to this quarter's results. More importantly, we
believe the steps we have taken to improve our product and business
relationships in Asia have better positioned us for the future. While it's
taking longer than anticipated, this "improved positioning" is already evident
by the fact we have made significant progress with certain business
opportunities. With approximately $6.5 million in the bank, we are well situated
as we look ahead".


Revenues

The Company's second quarter generated revenue from continuing operations for
the three month period ended June 30, 2007 was $126,428, as compared to $918,363
in the first quarter of 2007. The Company actually generated $481,050 revenues
in Q2 but $354,622 of that amount was waived in favour to a Licensee as a
special one-time goodwill marketing rebate due to operational downtime because
of software upgrades. Revenue from continuing operations for the year ago period
was $nil due to the sale of APG and the re-classification of the APG operations
to discontinued operations.


Interest income in Q2 was $81,678 as compared to $83,371 in Q1 and $13,826 for
the comparative quarter in 2006 due to the sale of APG and the re-classification
of APG operations to discontinued operations.




LAS VEGAS FROM HOME.COM ENTERTAINMENT INC.
Consolidated Statements of Operations and Deficit
Six Months Ended June 30
(Canadian Dollars)

-------------------------------------------------------------------------
                           Three Months Ended            Six Months Ended
                                 June 30                     June 30
                           2007          2006          2007          2006
-------------------------------------------------------------------------
                     (unaudited)   (unaudited)   (unaudited)   (unaudited)

REVENUES           $    126,428  $          0  $  1,044,791  $          0
-------------------------------------------------------------------------

OPERATING EXPENSES
 Sales & Marketing      133,220       154,384       229,890       282,574
 General &
  Administrative        315,692       338,494       685,912       656,162
 Research,
  Development
  & Support             709,757       573,583     1,360,301     1,000,068
-------------------------------------------------------------------------
                      1,158,669     1,066,461     2,276,103     1,938,804

EARNINGS BEFORE
 INTEREST,
 TAXES, AND
 AMORTIZATION        (1,032,241)   (1,066,461)   (1,231,312)   (1,938,804)
-------------------------------------------------------------------------

 Amortization            62,953       160,489       127,842       297,668
 Stock based
  compensation          190,007         8,649       436,582        83,419
 Bank charges,
  interest and 
  foreign exchange      386,163        67,684       348,303        58,970
-------------------------------------------------------------------------

LOSS BEFORE OTHER
 ITEMS               (1,671,364)   (1,303,283)   (2,144,039)   (2,378,861)
-------------------------------------------------------------------------
Other items
 Gain on settlement
  of debt                29,736             0       142,105             0
 Write up/(down) of
  marketable
  securities                  0             0             0       (41,127)
-------------------------------------------------------------------------
                         29,736             0       142,105       (41,127)

Income taxes                  0             0             0             0
-------------------------------------------------------------------------

NET LOSS BEFORE
 DISCONTINUED
 OPERATIONS          (1,641,628)   (1,303,283)   (2,001,934)   (2,419,988)
-------------------------------------------------------------------------

Earnings from
 discontinued
 operations                   0       449,782             0     1,881,615

NET LOSS FOR THE
 PERIOD              (1,641,628)     (853,501)   (2,001,934)     (538,373)
-------------------------------------------------------------------------

Deficit, beginning
 of period          (23,732,128)  (18,463,266)  (23,371,822)  (18,778,394)
-------------------------------------------------------------------------

Deficit, end of
 period             (25,373,756)  (19,316,767)  (25,373,756)  (19,316,767)
-------------------------------------------------------------------------
Weighted average
 number of shares   101,395,075    97,203,825   101,395,075    97,203,825
-------------------------------------------------------------------------
Net and fully
 diluted loss
 per common share         (0.02)        (0.01)        (0.02)        (0.01)
-------------------------------------------------------------------------



LVFH's financial statements for the quarter ended June 30, 2007 are available on
SEDAR at www.sedar.com.


About Las Vegas From Home.Com Entertainment Inc.

The principal business of the Company and its Antiguan subsidiary, MT Ventures
Inc. ("MTV") is the development and marketing of software for on-line
multi-player interactive games. The gaming and entertainment operations are
carried on by MTV. The principal revenues of MTV are from licensing fees and
royalties.


On behalf of the Board of Las Vegas From Home.com Entertainment Inc.

Jacob H. Kalpakian, President

This release does not constitute an offer for sale of securities in the United
States.


Statements made in this news release that relate to future plans, events or
performances are forward-looking statements. Any statement in this release
containing words such as "believes", "plans", "expects" or "intends" and other
statements that are not historical facts are forward-looking, and these
statements involve risks and uncertainties and are based on current
expectations. Consequently, actual results could differ materially from the
expectations expressed in these forward-looking statements.