Update: Shuffle Master Suddenly Cancels the Ongame Acquisition Deal


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.

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from us flag United States read article Phil Ivey Admits Reading the Cards at Mayfair Club Crockfords

Poker Community

Share this page on:
Follow LPB on:
Follow LPB

Join now for full access to our online poker forum/chat plus receive our newsletter with news & exclusive bonuses every month.

In the last 24h

Totals

  • New Members
    4
  • Members Online
    13
  • Guests
    877


eighteen plus only

Follow LPB on Facebook Follow LPB on Twitter Follow LPB on Pinterest Follow LPB on Google plus