Bwin.party Selling Ongame Poker Network
Bwin.Party is selling their Ongame Poker Network to Amaya Gaming in a deal that may be worth as much as $32 million. The blockbuster deal is just one more sign of the massive game of musical chairs being played in the gaming industry ahead of legal online gaming in the US.
Amaya, a Canadian based company, will be paying bwin.party around $19 million up front as soon as details of the deal are finalized – probably by the end of the year. There’s another $12.9 million built into the deal that will be paid out based on the progress of online poker legalization in the US.
Though Amaya’s CEO, Dave Baazov didn’t come out and say it directly in a press release on the topic, it’s obvious that the company has its eyes on the US:
The Ongame platform is scalable, proven and secure and is well suited for quick deployment in new regulated markets. We’re excited about the wide range of opportunities this acquisition makes possible for us as we execute on our vision.
Ongame currently works with 19 gaming companies across the globe and has a very strong presence in both France and Italy.
What do you think of bwin.party’s big deal? Share your thoughts in the comment section below.