Sale of Ongame Poker Network Completed
bwin.party Sells Poker Network For €15 Million to Amaya
bwin.party has completed the sale of its Ongame poker network to Amaya Gaming Group from Canada.
The company will receive €15 million for the network on a cash-free and debt-free basis and could earn up to an additional €10 if online poker becomes regulated in the U.S. within the next five years.
bwin.party said, “The exact amount of the contingent consideration will depend upon the extent of the regulation and, if not federal, is based upon the number of states that regulate and the total population covered.”
The deal sets in motion the move of bwin’s poker liquidity to the Party Poker network which is the primary network owned by the company. No time frame has been announced yet for the move.
One of Ongame’s largest poker rooms, Betfair, recently did a deal with the iPoker network which will see it move some of its liquidity away from Ongame.
|1||Online Cash Game Legend Eyeing WSOP Bracelet|
|2||Super High Roller Cash Game To Be Livestreamed|
|3||Mike Gorodinsky Wins 2015 WSOP $50,000 10-Game|
|4||WSOP $111,111 One Drop Draws 135, Colman Leads|
|5||Micon Takes Plea Deal In Bitcoin Poker Site Case|
|6||Chris Moneymaker Talks Upcoming HPO Championship|
|7||Eli Elezra Earns His Third Career WSOP Bracelet|
|8||Screenwriter Wins WSOP $1,500 Dealers Choice Event|
|9||Phil Mickelson Tied To Illegal Online Gambling: Report|
|10||Poker Central Announces Celebs For SHR Shootout|
|1||Cops: Deaf Poker Champ Killed While Trying To Buy Weed|
|2||Phil Ivey Still A No-Show At 2015 WSOP|
|3||Player Accidentally Gets Seated In $25K Buy-in|
|4||WSOP Colossus Draws Record Field Of 22,374|
|5||WSOP Rookie Proving Himself With Deep Runs|
|6||Hellmuth Wins 14th Bracelet In 2015 WSOP $10k Razz|
|7||WSOP $50K Event Sees Lowest Ever Turnout|
|8||Poker Pro Phil Ivey Loses $968K Online|
|9||Online Cash Game Legend Eyeing WSOP Bracelet|
|10||Casino Janitor Arrested For Sweeping Up Money|