An announcement came from Bwin.Party digital entertainment on Nov. 1 that the sale of its Ongame internet poker subsidiary to Amaya Gaming has been completed.
The consideration paid amounts to Euro 15 million on a cash-free and debt-free basis, and additional Euro 10 million will be paid by Amaya if online gambling becomes regulated in the US within five years of completion of the deal.
The exact amount of this payment will depend on the extent of the regulation (federal or state-by-state), and the total population covered.
Apart from its .com domain, Ongame also operates online poker networks in France, Italy and Spain. It currently has 19 operators running 25 brands on the platform, including names such as Betfair, Betsson, Betsafe, and Paf.
At the moment, it is believed to be around the fifth largest network in terms of cash player traffic, but this may change due to the pull-out of Bwin players and the departure of Betfair, which recently announced that it would be switching to Playtech's iPoker network in the dedicated Spanish and Italian markets.
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