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Purchase of Ongame Network may prove awkward for Amaya Gaming Group | 19th Sept 2012 : WorldCasinoYellowPages

Purchase of Ongame Network may prove awkward for Amaya Gaming Group

... 19 September 2012

With Ongame Network being considered as a surplus property and put on sale by; Amaya Gaming Group has shown its keen interest to acquire it. Bwin purchased Ongame Network in 2006 worth €475m from Patrik Selin, the erstwhile CEO of the company. After that PartyGaming podium has received much of the liquidity and it is expected by few forecasters that Ongame Network could be purchased for just €20m. Assessing this many concerns have felt like having the network for the least value, Shuffle Master thought to acquire it just for €30m in the beginning of the current year. Zynga was there as the last bidder after which Amaya, being the latest joined the race to purchase the network. Amaya may strike the deal, may be during the coming month, when the Global Gaming Expo is held in Vegas.

Nothing has been divulged by Amaya about the amount of investment that it intends to pay for the network for which Shuffle Master had offered €30million. Decision of Amaya Gaming Group to acquire Ongame Network may cost it much more than the wastage of $3million in 2011. To save it from that uneasy situation, Amaya could opt for some portion of the network and ask to retain the remaining part. Amaya Gaming Group has acquired the Cryptologic casino product in the recent past and could consider the Ongame poker software too. They could utilize the surplus amount for the purpose and even go in for the Entraction / IGT Network, a humorous idea indeed.

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