Online gambling company Amaya Gaming might soon take over the Ongame poker network from bwin.party. The company might announce the acquisition next week.It has long been speculated that Amaya is interested in taking over the Ongame poker network that is being owned by bwin.party digital entertainment. Lately there have been speculations about Amaya abandoning its plan to take over the network due to its intention to acquire US company Cadillac Jack for $167 million.
This week, on the other hand, news surfaced that the Ongame deal is still on-track and that Amaya will release a statement about this subject next week. It's believed that Amaya might take over the network for as less as $6.5 million.
To reflect on the price, earlier the year gaming technology provider Shuffle Master announced that it was interested to take over the network and offered a price of EUR 30 million. Three months after the announcement, Shuffle Master withdrew its offer.
The price of the network continued to decline during the year. This is attributed to declining player numbers and lack of registrations. At this moment the network has 20% less players than during the same period last year. Despite this, the Ongame network is still the fifth largest online poker network on the market.
The network's sale might actually further decrease player numbers because bwin.party plans to migrate all bwin Poker players to the PartyPoker network after a successful sale.
Still, taking over the network for just $6.5 million can be very advantageous to any company. The fact that at this moment the Ongame network mostly operates in regulated markets will allow it to apply for a USA online poker license when online poker will become regulated in the States.
Amaya's plans with the network are not know at this moment but it's very likely that the company intends to use the network to create a presence on the US online poker market when this practice becomes regulated.
OnlineCasinoAdvice.com will continue to report about this case as soon as Amaya Gaming releases a statement next week.
Tags: Amaya Gaming, Ongame Poker Network, bwin.party, Online Poker Industry, US Online Poker
Source: http://www.onlinecasinoadvice.com/news/amaya-gaming-still-interested-in-ongame-network-takeover/
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