The long awaited sale of one of the oldest online poker networks Ongame is finally complete. bwin.party have finally officially offloaded their surplus asset which was acquired by sportsbook giant bwin prior to the merger with Party Gaming. Ongame has had a for sale sign for the past couple of years.
The sale price for the online poker network was for 15 million Euros (~$19.4 million) but the deal provides a clause for a payment of an additional 10 million Euros if there is regulated gaming in the United States in five years. This payment will likely be dependent on the number of US States that regulate intrastate like Nevada is doing because country wide regulation may be far.
Montreal based Amaya Gaming are focused on providing gaming solutions to a wide spectrum of clients in both land based and interactive gaming. The company which is currently listed on the TSX Venture Exchange has been growing steadily, recently by making acquisitions with the goal of becoming a complete egaming solution provider.
The Ongame Network is based in Sweden and encompasses about 25 .com poker rooms. It is currently the fifth largest network in terms of cash player traffic but is expected to fall by about 50% when bwin migrate their players off the Ongame network and onto the Party Poker network giving them a traffic boost. Ongame also have regional networks running in France, Spain and Italy.