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As was reported over the past week and now confirmed by Bwin.party, the world’s largest online gambling firm, Ongame has been acquired by Canadian company Amaya Gaming for €15m in cash.
Amaya will pay a further €10m depending on progress made in the US on regulating online gambling, according to the Financial Times of London.
A previous deal for Las Vegas-based ShuffleMaster to purchase Ongame earlier in the year for an initial €19.5m, plus a potential further €10m, eventually fell through.
The Ongame poker network provides virtual real money cardrooms for the likes of Betfair and Coral.
Jim Ryan and Norbert Teufelberger, joint chief executives of Bwin.party, said: “The sale of Ongame conforms to our strategy, especially as we move closer to launching our single, proprietary technology platform in the next few months.”
Bwin.party said it expected the deal to be completed by year’s end.
- Aaron Goldstein, Gambling911.com
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