Amaya Gaming Group, the entertainment provider for the regulated gaming industry, is thrilled to announce that it has acquired Ongame Poker, the leading B2B online poker network, from Bwin.Party Digital Entertainment.
Montreal based Amaya Gaming Group revealed that the deal is worth $32.2 million and that they will be making an initial payment of $19.3 million in cash to Bwin.Party once the deal is completed. It is expected that payment will be made during the fourth quarter of this year, subject to regulatory approval. Amaya Gaming will be required to pay Bwin.Party an additional payment of up to $12.9 million if online gaming is regulated in the United States within the next five years.
According to David Baazov, Chief Executive Officer of Amaya Gaming, “The acquisition of Ongame bolsters Amaya Gaming’s product portfolio, transforming Amaya into a leading provider of gaming platforms. Amaya looks forward to unleashing Ongame’s technology to its full potential through the leveraging of our many B2B relationships and delivering new partners and players to the network. 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.”