It's official, the announcement was confirmed by Bwin.party last Monday.
Bwin.party digital entertainment has sold online Ongame poker network to the Canadian group based in Montreal, Amaya Gaming. The transaction is valued at 25 million euros.
First, an amount of EUR 15 million will be paid to finalise the agreement and the other party will be paid if online poker is regulated (what we hope) in the United States.
David Baazov, CEO of Amaya, said: "the acquisition of Ongame strengthens our product portfolio. Amaya is anxious to maximize the potential of the Ongame technology thanks to our many B2B relationships and new partnerships for the network. The Ongame platform is scalable, secure and proven for rapid deployment in regulated markets. We are excited about the opportunities that this acquisition presents while we execute our strategy. »
For the co-leaders of bwin.party, Norbert Teufelberger and Jim Ryan, the sale of Ongame is "consistent with our strategy, particularly as we are approaching the launch of our unique platform and owner."
American Shuffle Master was approached to the takeover of Ongame in March before announcing its withdrawal from the transaction in June due to "difficult economic conditions in Europe, regulatory uncertainty" to the United States and weak prospects for Ongame.
Amaya is listed on the Toronto and account Betfair, Betclick Everest and Ladbrokes among its clients and operates on the Belgian regulated market through a partnership with the Circus group.
Amaya Gaming Group, Inc. has added the release of its CEO David Baazov, who said:
"The acquisition of Ongame supports Amaya Gaming product portfolio, turning Amaya into a leader in the provision of platforms for games. "Amaya is anxious to push the Ongame technology to its full potential through the lever that involve our many business partners and to provide new partners and new players to the network."
Discuss this news on PokerCollectif forums: the Ongame network purchased by the Amaya Gaming Inc. group.