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||Negreanu At WSOP National Championship FT|
|2||Harwood Wins 2015 WSOP National Championship|
|3||Gambler Sues Casino Over Roulette Ball Injury|
|4||5 Crazy Hands From Super High Roller Cash Game|
|5||Casino To Pay Poker Dealers $100K In Settlement|
|6||Watch Super High Roller Celebrity Shootout Tonight|
|7||Darren Elias Headlines 2015 WPT Choctaw Final Table|
|8||Crazy Gambling Stories From July|
|9||High Roller Ordered To Pay £2million Gambling Debt|
|10||Poker Hand of the Week: What's Your Play?|
|1||Negreanu Busts Hellmuth Deep In WSOP Main Event|
|2||November Nine Set In 2015 WSOP Main Event|
|3||Negreanu Finishes 11th In WSOP Main Event|
|4||2015 WSOP Main Event: Negreanu Headlines Last 27|
|5||Hellmuth, Ivey Battle At Crazy Day 1 Table|
|6||Money Bubble Looms at 2015 WSOP Main Event|
|7||Neuville Leads 2015 WSOP Main Event After Day 5|
|8||Kelly Minkin: Last Woman In WSOP Main Event|
|9||Main Event: Nearly 1K Players Eliminated On Day 2AB|
|10||Phil Ivey Countersues Borgata Over Disputed $9.6M|