Online Poker News - Update: Shuffle Master Suddenly Cancels the Ongame Acquisition Deal
27th of June 2012 - latestpokerbonuses.com
No explanation for unexpected withdrawal so far
Cancellation of the Shuffle Master’s intention to purchase Ongame Network, Ltd was announced on Wednesday by Bwin.Party digital entertainment in a stock exchange press release.
Earlier this year, the US casino equipment supplier Shuffle Master revealed its intention to acquire Ongame Network, Ltd., a 25-brand online poker network owned by Bwin Interactive in a Euro 19.5 million acquisition deal.
The progress of the deal was confirmed by the executives’ statements of Bally Technologies, Shuffle Master and Ongame Networks in view of the planned launch of the Ongame's poker content interface on Bally's iGaming platform.
The Wednesday announcement of the Shuffle Master’s withdrawal revealed also that more potential purchasers were to be approached again.
"The sale of surplus assets, including Ongame, remains a core part of Bwin.party’s strategy. Bwin.party is re-engaging with other third parties that have expressed an interest in acquiring Ongame. Bwin.party will make a further announcement as and when appropriate," the notification reads.
Bwin.Party states that the withdrawal is a result of mutual agreement, with no further explanations of the reasons behind it.
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