Entraction to Sell Online Poker Sites
April 16, 2009 (CAP Newswire) — Casagaming Ltd, a subsidiary of Swedish online gaming company Entraction Holdings that operates a number of online poker sites, has signed a letter of intent to sell those sites to iGame Ltd, the company announced this week.
Casagaming operates the gaming sites 24hPoker.com and Martinspoker.com, and has signaled an intent to sell to iGame, which currently operates www.pokerihuone.com, also in Entraction's network. With this transaction, Entraction completes its transition of focusing solely on supplying products and services for internet gaming.
The letter of intent includes the sale of Casagaming Ltd's assets, including its domains, customer registry, and brands. These assets are valued at €4,500,000.
Entraction's online gaming operations are currently part of the Income Access affiliate network.
"The selling of the gaming operations is a milestone for Entraction and enables us to focus 100% on our supplier operation,” said Peter Åström, Entraction’s Chief Executive Officer. “In a time when many of our competitors does the opposite and start to mix the roles of operator and supplier, Entraction's focus makes us both more attractive to new partners and more transparent to investors. I am certain that iGame Ltd will continue to successfully operate the sites in our network.”