No Deposit Bonus : SlotsLv casino currently is offering everyone a $22 no deposit bonus. New Players Only. Fully Cashable. USA and Canadian Players are welcome. Please see our SlotsLv review page for the no deposit bonus info. SlotsLv Review
Best USA Casino Bonus
Big Casino Bonus : All USA Players Welcome: Bovada Casino the #1 USA Online Casino offering all new signups a $3000 table game and slots bonus + weekly cash back. All new accounts qualify thru our link. No codes needed. For full bonus information please see our Bovada Bonus review.
How Much Will AMaya Pay For Ongame
Monday October 1, 2012 : WHAT WILL AMAYA PAY FOR ONGAME POKER NETWORK?
French press reports that acquisition will cost four times the speculated price
Despite the absence of company statements - one is expected from Amaya today - the rumoured sale of Bwin's Ongame Poker Network to Montreal-based Amaya Gaming remained the subject of continued speculation over the weekend.
The original rumour, which suggested that Amaya would be paying as little as $6.5 to $8 million, was revised sharply upward when the publication iGaming France reported that the asking price was actually around four times that at $26 million. Presumably today's statement from Amaya will confirm that.
Certainly that number would be more in line with the deal that Shuffle Master reversed away from in June after making an offer of Euro 29.5 million .
Back then, Shuffle Master chief executive officer Gavin Issacs said: “It has become evident to us that Ongame’s operations post-acquisition will not achieve the near-term results we initially expected and will require a larger ongoing investment than anticipated.”
Bwin acquired Ongame in a December 2005 share purchase agreement worth in total around Euro 473.6 million. At that time Bwin boasted that the poker network had more than five million registered customers and in Q3 2005 more than 260,000 real money players, making it one of the largest worldwide. 2004 sales grew by approximately 253 percent with an operating margin of approximately 33 percent.
Bwin paid for the acquisition through:
• 40 percent in Bwin stock at an issue price of Euro 65.19
• 45 percent in cash to be raised from different sources, including equity.
• 15 percent of the consideration retained by Bwin as a deferred contingent payment until Q1 2009 depending on certain financial and operating criteria in 2006.
Bwin's subsequent merger with the Party Gaming group, which included the highly successful Party Poker operation, made Ongame surplus to requirements, and the merged companies have been trying to sell off Ongame since 2011.
In an interesting aside to the Amaya-Ongame story, respected poker writer John Mehaffey opined this week that the price paid could be an indicator of the value (or lack thereof) of the Absolute Poker software which the Department of Justice appears to be planning to sell off after its Black Friday hammering of the controversial company.
At http://www.legalpokersites.com/blog/ongame-sale-proves-absolute-poker-software-worthless/ Mehaffey points out that the Absolute Poker software currently being fought over in US courts has no documentation and is over 50,000 lines of code, all in Korean, rendering it substantially less valuable and usable than Ongame, and making the owed players' chances of recovering even a percentage of their money doubtful.
UPDATE Monday a.m:
Bwin.Party Digital Entertainment confirmed the sale of Ongame to Amaya for up to Euro 25 million "on a cash-free and debt-free basis."
The company disclosed the main features of the agreement as:
• Initial consideration of Euro 15 million payable in cash on completion expected during the fourth quarter of 2012
• Additional payments of up to Euro 10 million will become payable if there is regulated online gaming in the United States within the next five years
• Completion is subject to the standard conditions for a transaction of this type, including regulatory approvals
Commenting on the announcement Monday, Jim Ryan and Norbert Teufelberger, the Co-CEOs of bwin.party, said:
“The sale of Ongame conforms to our strategy, especially as we move closer to launching our single, proprietary technology platform in the next few months. We believe Ongame will fit well into Amaya Gaming and has an excellent future ahead.”
David Baazov, Chief Executive Officer of Amaya Gaming, said:
“The acquisition of Ongame bolsters Amaya Gaming’s product portfolio, transforming Amaya into a leading provider of gaming platforms. Amaya looks forward to unleashing Ongame’s technology to its full potential through the leveraging of our many B2B relationships and delivering new partners and players to the network. The Ongame platform is scalable, proven and secure and is well suited for quick deployment in new regulated markets. We’re excited about the wide range of opportunities this acquisition makes possible for us as we execute on our vision.”
The Ongame network includes 25 e-gaming industry brands that are owned by a total of 19 operators. Ongame also operates regional networks in France and Italy.
Gambling News :
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
The Railbird Launched By Americas Card Room #acra -
Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.
Huge Caribbean Hold’Em hit at Bovada Casino -
A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.
Please Note : Gambing might not be legal in your area. We bring you www.recentpoker.com as an information and gambling news site only. We hope that you find all the information and gambling news found in www.recentpoker.com to your liking. Please tell your friends about us and visit us again soon.