Ongame Up For Sale?

Bwin spokesperson confirms the speculations According to recent media speculations, the latest and biggest industry merger between two giants, Party Gaming plc and Bwin Interactive could see the online poker network and software developer Ongame put up for sale. These speculations have been confirmed by an unspecified spokesperson from Bwin, who stated that Ongame could be found to be a 'surplus asset' once the merger is finalized. In addition, he stated that the company could be sold either on an auction or perhaps to strategic partners, but added that such a sale is not an urgent affair. Bwin bought Ongame in 2005 for Euro 475 million, but in late 2006 this venture received a heavy blow, as the United States passed the Unlawful Internet Gambling Enforcement Act, after which Bwin decided to exit the US market. However, thanks to the recent online gambling legalization initiatives, the merged companies may want to wait for some actual results, which would cause the prices to boost. The spokesperson commented: “We understand that the American gaming industry wants online poker regulated, as they want access to that revenue stream. Regulatory developments in the US would raise interest in these assets. But we haven't yet established any firm deadline, and will look at all options.”